Monday, November 5, 2018

Elliott Wave Stock Market Update - November 5

The market closed up today but remains under the 200 DMA. At the same time, another close above the Trend Average will add a bullish bias to the short-term trend so we could see bulls trying to dictate the pace for the time being. Maybe, there the election results tomorrow will be used as an excuse for the next significant market move.

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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