Monday, September 30, 2019

Elliott Wave Stock Market Update - September 30

The market bounced back today to test the TA and if prices don't recapture it we should see the market head down again to possibly lower lows. The 50 DMA at 2948 is a must hold level for the bullish side as losing this support would likely send prices in the 2800's. With the Trump mess dominating the news, the excuse is there for the market to go into a bigger correction.

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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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