Monday, November 12, 2018

Elliott Wave Stock Market Update - November 12

The market continued its drop today and the potential bullish 5-count has been invalidated. The close was just below the Trend Average and nothing short of a strong rebound will save the trend from turning bearish again in the next few days. It's hard to tell what the count is now due to all the recent volatility but the market is looking tired and continued trade below 2763 will bring a death cross in the next few weeks.

Short Term Trend = Bullish trend being challenged
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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