Monday, January 27, 2020

Elliott Wave Stock Market Update - January 27

The market has finally turned the TA bearish and we should now see a real correction. A few days ago I was wondering what excuse would cause a strong correction given the market obliviousness to politics but the corona virus from China seems to be doing the job. I liquidated by long positions in the US market today and will probably buy again when a bottom is made.

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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