Monday, October 22, 2018

Elliott Wave Stock Market Update - October 23

Prices closed down today and could continue declining as long as the TA is not re-captured. However, we need to see a stronger bearish wave to confirm the count or else the labels will need to change to reflect a finished count at 2710 with the bounce being a retracement. Whatever the case, the bias continues to be bearish.

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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