Tuesday, October 9, 2018

Elliott Wave Stock Market Update - October 9

Prices fell slightly again today but one could argue for a bottoming pattern if lows are respected in the next day or two. However, if selling continues and support breaks then we could see prices go much lower, possibly even testing the 200 DMA in the next few weeks.

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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