Thursday, August 2, 2018

Elliott Wave Stock Market Update - August 2

I was expecting the market to continue selling today but I was wrong. Prices bounced to a higher high and could possibly whipsaw the TA. But since we are sticking to a system, we'll assume there is downside coming until the there is an official change in trend which could happen tomorrow if selling momentum continues.

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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