Tuesday, October 23, 2018

Elliott Wave Stock Market Update - October 23

Finally, a lower low to mark the bearish 5th wave I was looking for to finish the count. There could be lower lows in the next few sessions but if 2691 holds then the 5-count is finished and now we will see a real rebound. Should selling accelerate and go much lower then what I have as the 4th wave should be labeled a W2 or a B.

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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