Monday, May 13, 2019

Elliott Wave Stock Market Update - May 13

The market had another bad day and looks headed towards a test of the 200 DMA at 2775. The issue of tariffs in on everyone's mind and for good reason since this issue could derail an otherwise pretty healthy economy. Maybe trade wars are not that easy after all! lol. I was hoping a recession would come later in 2020 but if it comes sooner I won't complain. It's time for lots of overpriced stocks and assets to deflate.

Short Term Trend = Bearish
Medium Term Trend = Bullish
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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