Wednesday, August 21, 2019

Elliott Wave Stock Market Update - August 21

The market has been able to hold recent recent gains and has turned the TA bullish. This positions to market to rally in the next week or two and possibly challenge all-time highs. Obviously, this doesn't mean the recession fears have abated or that the China trade issue has been resolved. In fact, the yield curve inverted again today but traders ignored that this time. So it will possibly new highs again and then a nasty sell-off sooner than later. I might jump in on this rally.

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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