Thursday, October 18, 2018

Elliott Wave Stock Market Update - October 18

Prices closed substantially down as anticipated but it is still way off the lows made last week. If we see prices rally back above 2816 then 2710 will likely be a an important bottom. However, if selling continues in the next few sessions then we should see 2710 challenged and broken to finish up the 5-count posted.

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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