Wednesday, August 22, 2018

Elliott Wave Stock Market Update - August 21

The market didn't go into a correction as I had been expecting but it did reach a new all-time high, which I had been anticipating for a while. Now that all bearish patterns are voided, the market is free to rally substantially from here. We should see a pullback to digest gains but now there is a good chance the index will reach 3000 in the next few months. Unthinkable just a few years ago!

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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