Wednesday, August 7, 2019

Elliott Wave Stock Market Update - August 7

The market has rallied back in the past couple of sessions but not enough to invalidate the bearish pattern and count in place. If the labels are correct, we should see selling resume soon and possibly see the 200 DMA just under 2800 tested.

Short Term Trend = Bearish
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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