Wednesday, August 28, 2019

Elliott Wave Stock Market Update - August 28

The market closed the day challenging the TA but so far the counter-rally has been weak and there should be another bearish leg starting soon. If selling stops at 2822 there is still the chance for a bottom but support is breached then we could see very strong selling ahead. I am putting most of my liquid money in tax free bonds in the meantime, decent tax free returns.

Short Term Trend = Bearish 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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