Monday, August 13, 2018

Elliott Wave Stock Market Update - August 13

Prices have continued to decline and now the Trend Average has turned bearish. Not sure if we will see another whipsaw but as long as prices maintain trade over 2796, there is a possibility of a rally coming. However, if prices fall below the 2796 support level then the market will see a potential much bigger decline ahead.

Short Term Trend = Bearish
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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