Wednesday, October 31, 2018

Elliott Wave Stock Market Update - October 31

The counter-rallied has continued and is nearing a test of the 200 DMA. As I said yesterday, the main challenge for bulls is recapturing the 2765. A failure to clear this trend pivot will send the market into another sell-off.

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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