Monday, May 6, 2019

Elliott Wave Stock Market Update - May 6

The market had a wild day today after Trump announcing possible tariffs on China but at the end of the day most losses had been reversed. Still, the TA continues to be bearish and failure to make higher highs sets up the market for lower lows. A break of 2891 would confirm a likely top.

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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