Tuesday, July 30, 2019

Elliott Wave Stock Market Update - July 30

The market has turned bullish again after recent highs and prices should continue to rise for as long as the TA is bullish. Hard to imagine the market making new highs if the trade talks with China don't go well but for now, it seems the market is optimistic there will be a resolution. Personally, I don't think China will make any major commitments and Trump will either have to tax at 25% as promised or find some "solution" to avoid this being a problem for his 2020 campaign. China technically has the upper hand right now despite what Trump says (or tweets).

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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