Wednesday, December 4, 2019

Elliott Wave Stock Market Update - December 4

I am on a short trip to London so I have been on limited in time. The market has turned bearish after prices fell below the Trend Average and the ATH at 3154 seems to be a top for the time being. However, after a multi-week rally, this pullback is reasonable and as long as the longer term trends remain bullish, prices are likely to continue rallying after the selling is done.

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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