Tuesday, October 30, 2018

Elliott Wave Stock Market Update - October 30

The market staged a good bounce today and if the TA is recaptured then the bottom will be in for this phase of the sell-off and prices could go for a test of the 200 DMA currently at 2765. However, if the 200 DMA is not recaptured then the probability of a bear market will increase substantially.

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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