Wednesday, January 22, 2020

Elliott Wave Stock Market Update - January 22

Prices made a new ATH again today after a mild correction yesterday and the bias continues to be bullish. Maybe, the new coronavirus outbreak will be used as the excuse to finally send the market into a real correction. For now, it seems like the market wants to keep rallying.

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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