Tuesday, September 1, 2020

Elliott Wave Stock Market Update - September 1st


I forgot to add the update over the weekend. This coronavirus situation has really messed up my schedule. However, there isn't much to add anyway other than as long as the market trades above the Trend Average we can expect new all-time highs. Looking at the wave, I can see that it is close to completion and whether a major pullback starts to take place then remains to be seen. But from the look of things, we could see the rally rage out of control as if we were in a booming economy with the greatest President EVER! lol. My bet is reality will hit the fan sometime before the elections and until then, I am out of the US market.

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

For detailed wave analysis visit http://ewaveanalytics.com

* 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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