Monday, December 16, 2019

Elliott Wave Stock Market Update - December 16

The market has continued its breakout and it seems headed towards the 3200+ territory very soon. Given the season and the "phase 1 deal" of the trade deal with China, the market has the perfect excuse to get to 3300 in the next few weeks. Technically, China has agreed to buy the same amount of stuff they were previously buying before the tariffs so it is not exactly a substantial announcement. But it sounds like good news!

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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