Monday, August 20, 2018

Elliott Wave Stock Market Update - August 20

The market has continued its rally but bullish momentum seems to be waning so we could see a pullback to a completed 5 count as soon as tomorrow. If the correction respects the 2802 low where the rally started then we should see new all-time highs this or next week.

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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