Wednesday, July 17, 2019

Elliott Wave Stock Market Update - July 17

The market has gone into a stronger correction after making an all-time high on Monday. The close today was below the Trend Average but the pattern still favors more upside as long as 2963 doesn't get breached. A break of 2963 would bring a "real" correction in the next few weeks.

Short Term Trend = Bullish trend being challenged
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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