Thursday, May 30, 2019

Elliott Wave Stock Market Update - May 30

The market bounced today but found resistance at old support (2801). I'd be surprised if the bounce manages to test the TA but we'll find out tomorrow. The market might be getting ready for a serious sell-off after the bounce is over to welcome June.

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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