Sunday, August 16, 2020

Elliott Wave Stock Market Update - August 15th

The market closed the week challenging all-time highs as expected. If the TA remains bullish, we will see new all-time highs in the next week or two. How much higher it will go it's anyone's guess but I believe we are close to a significant top. Not only is the market technically overbought but there are plenty of reasons of why the market will sell off. We are in a deep recession, a national health catastrophe and now a wanna-be dictator who is deliberately trying to steal an election by sabotaging voting. Hopefully, 2021 will be a completely different!

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

For detailed wave analysis visit

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors

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