Update on Ford

I am concerned about the decisive downside activity below the August 2 post-earnings low of $11.9. I discussed in July how it looked like the stock was in an Elliott Wave uptrend; however, the bearish activity since late-April is starting to look more like a trend than a correction. Long term, it now looks to me as if the stock is in a wide range sideways movement ranging from $11 to $14, with the peaks and lows of this range varying depending on the overall stock market’s action and the macroeconomic environment. What would get the stock out of this range to the upside is if we get a sustained improvement in economic growth.

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