Monday, October 21, 2019

Elliott Wave Stock Market Update - October 21

The market closed above the 3000 level for the first time in a month and is well positioned to challenge all-time highs. Any favorable news coming from the China trade negotiations will do it but I still don't see any substantial concessions. I don't think the markets actually cares of the substance of this agreement,  as long as there is not "disagreement" it will be good enough.

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

No comments:

Post a Comment