Tuesday, December 4, 2018

Elliott Wave Stock Market Update - December 4

I guess the inevitable came sooner than later. The market lost substantial ground today supposedly on doubts about the economy, inverted yield and the trade war. Or maybe, traders are realizing the long term bearish trend is inevitable and sold on strength to bag holders. With the market closing right on the TA, the short-term trend technically remains bullish but the death cross is now imminent in the next few days and the TA should turn bearish soon as well. Anybody buying the rallies is just asking for it at this point.

Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish trend being challenged
Long Term Trend = Bullish trend being challenged

* 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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