Sunday, September 13, 2020

Elliott Wave Stock Market Update - September 12th


The market has continued to make lower lows and just barely closed over its 50 DMA at 3321. If prices fall below the 50 DMA, we should see selling accelerate to test the 3100 level. If prices are able to bounce off from last week's lows then it still has a chance to making another ATH before the "top" is in. Whatever the case, substantial selling will come in the next few weeks or few months and bring prices down to levels that actually reflect a recession. It's a waiting game but I think it will ultimately pay off very well. 

Short Term Trend = Bearish

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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