Monday, October 15, 2018

Elliott Wave Stock Market Update - October 15

Prices closed down today but I think the bulk of the selling will come tomorrow or Wednesday. Based on the count, I assume last week's low will be breached to finalize the 5-count posted. The big question is whether this recent move is part of yet another correction of the beginning of the end of the bull market.

Short Term Trend = Bearish
Medium Term Trend = Bullish trend being challenged
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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