Sunday, July 12, 2020

Elliott Wave Stock Market Update - July 12th

The market had another good week by closing up +4.01% and a new golden cross is officially in place. A continued rally towards all-time highs is now likely in the next few weeks but once it gets there I wonder if the fundamentals will finally catch up and drag everything back down. The virus situation is now at catastrophic levels and I don't know much more the market will ignore the fact that we are in a recession that will be long-lasting. Like I said last week, this is probably the ultimate sucker's rally as I think it's obvious a crash is coming.

Short Term Trendd = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

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