Wednesday, November 21, 2018

Elliott Wave Stock Market Update - November 21

The market staged a counter-rally today that mostly faded by the end of the session. The lack of strength in the bounce shows lack of bullish confidence and Friday could get ugly if the count posted is correct. Prices are trading well below the main moving averages and a death cross will be imminent if the sell-off continues in the next few sessions.

Happy Thanksgiving!

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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