Market Briefs & Sentiment Outlook (MBSO)
Reported by Tony Carrion


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March 3, 2018






Global Stock Market Rout

US stocks were not alone in the rout that hit equities in February. The MSCI World Stock Index corrected 9.1% between January 26 and February 8. Despite the current recovery, it may have lower to go before bottoming.



While we're labeling the Elliott wave pattern as a correction in wave (4), the pattern of the recovery suggests the final low hasn't been made. Overall, it should decline in three waves, and only two have been formed. That strongly suggests another low should follow. It may tack on another 5% to the overall decline from January 26.


The good news is that if it's only wave (4), a rally to new highs in wave (5) will follow.


You can follow the intraday and daily Elliott Wave analysis of US, European and Asia/Pacific stocks with a risk-free subscription to the Stock ProServices offered by Elliott Wave International.  Click for more information.


For intraday and daily Elliott Wave forecasts of US, European and Asian stock markets, we highly recommend the ProServices offered by Elliott Wave International where I am an analyst.


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