Wednesday, August 1, 2018

Elliott Wave Stock Market Update - August 1

The market closed slightly down today but it is enough to turn the TA bearish so we should see recent lows tested in the next session or two. The market could use Trump's threat of more tariffs on China as an excuse to sell or his calling to end the Russian probe on him. I suppose Mueller is getting too close for comfort so he doesn't want to be outed. I think that press conference the other day speaks for itself. Never mind what the media says, just listen to what Trump said and then the "would/wouldn't" excuse the next day. What a joke.

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

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