Monday, October 8, 2018

Elliott Wave Stock Market Update - October 8

Prices made a lower low today before bouncing back to close the day basically unchanged. The close was barely above the 50 DMA and if the market starts closing below this level then we should see selling accelerate.

Short Term Trend = Bearish
Medium Term Trend = Bullish
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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