Wednesday, February 20, 2019

Elliott Wave Stock Market Update - February 20

The market has continued to make higher highs and it is a few points away from the 2800 level. At this rate, we will probably see a golden cross sometime in March so the plan remains to go long at the coming correction which should test the 50 DMA. It is almost 10 years since the 666 low in 2009. Ten years later and the market is up 300%, who could have guessed that when the risk of a second "Great Depression" seemed so real back then.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

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

No comments:

Post a Comment