Thursday, January 9, 2020

Elliott Wave Stock Market Update - January 8

The market made a new ATH today but remains to be seen if this high is part of an expanded flat correction or part of the 5th wave as the low made on 01/06 could technically be considered a W2. What happens in the next few sessions should give us an idea of the general direction for the market for the rest of the month. For now, the bias continues to be bullish.

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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