Wednesday, January 15, 2020

Elliott Wave Stock Market Update - January 15

The market reached another new ATH today before giving up most of the gains by the close. The excuse was the signing of the "Phase 1" of the China-US trade deal but in reality, it doesn't really amount to much economically. Trump just wanted something done to claim some sort of credit which I am sure his supporters will give him regardless. In 12 months, we'll see if Trump can hold on to the presidency.

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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