Monday, December 10, 2018

Elliott Wave Stock Market Update - December 10

The market experienced strong selling earlier today before closing slightly positive at the end of the day. An average person wouldn't think much of it given the fact the market came back but the technical damage done today is substantial and opens the door for much lower lows ahead. In fact, unless the counter-rally is very strong in the next few days, there is a risk 2532 will be taken out in the next week or two and this could bring the type of sell-off we haven't seen in many years. With a death cross in place, the stars are finally lining up for bears.

Short Term Trend = Bearish
Medium Term Trend = Bearish
Long Term Trend = Bearish

* 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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