Thursday, June 20, 2019

Elliott Wave Stock Market Update - June 20

The market broke out range as expected and made a new ATH today. I had been expecting a strong counter-rally when the market bottomed but a new high is somewhat of a surprise to me given the time of the year and the economic background. But it is what it is and now all trends are back to bullish mode again. It's almost feels like bear markets are a thing of the past. In the 2000's, we saw 2 bear markets in in less than ten years. Now it's been 10 years since the infamous 666 and the market has not seen one since then. The whole thing is actually incredible if you think about how the mood was in 2009.

Short Term Trend = Bullish
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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