Wednesday, November 7, 2018

Elliott Wave Stock Market Update - November 7

The market staged a strong rally today and even closed over the 2800 level as I thought it would once the 200 DMA was cleared. The next challenge for the bulls is overcoming the 50 DMA at 2833, if that trend is recaptured then the market will be bullish and could attempt a challenge to ATH.

Short Term Trend = Bullish
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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