Friday, July 5, 2019

Elliott Wave Stock Market Update - July 05

The market opened down today and tested the TA before erasing most of its losses by the end of the day. We should see 3000 next week if the low today holds. The reason for selling today was the strong jobs report, which is actually a good thing for the economy but instead it was used as an excuse to take profits. I wonder if the market will be able to reach 4000 before the next recession comes.

Have a great weekend!

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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