Friday, November 22, 2019

Elliott Wave Stock Market Update - November 22

The market ended the week slightly down, the first bearish close after 6 weeks of rallying. We could see further downside next week but probably just enough to consolidate gains and position the market for another multi-week rally in December. Perhaps, some declaration of a partial trade agreement with China will be the excuse for a rally. The market has managed to ignore the impeachment proceedings and it looks like whatever comes out of the trial will not be affecting the market much.

Have a great weekend!

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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