Thursday, December 13, 2018

Elliott Wave Stock Market Update - December 13

The market closed flat today but it seems like it is ready to make a higher high in the next day or two. I assume the Trend Average will be tested and only then will we know if the bounce is short-term or will continue for a while. There seems to be a lot of talk of progress being made in the US-China trade talks but I think that's just the explanation the media is using for this bounce. The real reason might be that the market was simply very oversold.

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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