Monday, November 19, 2018

Elliott Wave Stock Market Update - November 19

"The pattern points to a potential sell-off next week "

The market lost substantial ground today and if 2670 is breached then it has the potential to go much lower. That will also confirm the likelihood of a bearish W3 and a test of the October low at 2603. A death cross is likely in the next couple of weeks unless the bearish pattern place is reversed.

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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