Friday, August 10, 2018

Elliott Wave Stock Market Update - August 10

The market failed to complete the 5 count and instead truncated and sold off today. The close is barely under the TA so there is still a chance of a strong comeback to challenge ATH. But of the TA is lost, then we will see another substantial pullback in the next week or two.

Have a great weekend!

Short Term Trend = Bullish trend being challenged
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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