Friday, August 22, 2014

Elliott Wave Stock Market Update - August 22




















We got a barely noticeable one correction today as I was expecting and we could see the market continue the rally next week in a 5th wave to complete the structure. I was hoping maybe we would see 1979 tested, but 1984 is close enough and it is in the 0.5-1% correction range I mentioned yesterday so I sold my shorts to avoid a surprise on Monday. We could still more downside on Monday but it's safer not to risk it unless there are clearly 5 waves in. If the wave from 1984 t0 1992 is a micro W1, then I am expecting a top around 2005. Maybe it will extend to 2014 and then sell off to 666! not..

Have a Great Weekend!

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics





Thursday, August 21, 2014

Elliott Wave Stock Market Update - August 21




















The market put in an all time high as I had been expecting and now we should see a pause for a W4 before another bullish wave that will rally past 2000. I am assuming the market will find the 1.618 ratio significant, but if there is not drop tomorrow then this W3 will start extending. And as I've said in the past, as long as the economic background (good earnings growth to be specific) continues to support a rally, this multi-year rally will go on and on. The fact the Fed might raise rates translates into a healthy economy, so the removal of QE is actually bullish and not bearish as some people think. With that said, I went short at 1993 in hopes of a .5-1% correction (A test of the TA would probably asking for too much). If this turns out to be an ABC from 1904, which I doubt at this point, then great. If not, I'll just make some money for my coffee fund.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics




Wednesday, August 20, 2014

Elliott Wave Stock Market Update - August 20




















The market came a few points of its all time high, despite the 30 min MACD correcting (which is highly unusual and a sign of bullishness). A little help from China's PMI overnight could easily propel the market to a new high tomorrow. Looking at the waves, if I add 1.618xW1 to the 1929 low, we get 1993. However, since this looks like a nested 1-2 structure, the rally can go on for a while before exhausting. Also, the Intermediate Trend has turned back bullish which basically supports the completion of a 5 wave count from the 1904 low.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics


Tuesday, August 19, 2014

Elliott Wave Stock Market Update - August 19




















The market has continued its rally and the Inverse Head and Shoulder target has basically been reached with today's high. The market could still be putting in a "flat" correction, but looking at the NASDAQ, it looks like this rally might go on for a while. The fundamental picture continues to favor higher prices and as long as there are no signs of an economic slowdown, prices will continue to go up. Perhaps the market will go parabolic in the next few months before finally putting a decent correction?  Maybe when the doomers finally go bullish, the market will tank!

Short Term Trend = Bullish
Medium Term Trend = Bearish Trend being Challenged
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics



Monday, August 18, 2014

Elliott Wave Stock Market Update - August 18




















The market made another high for the structure today and it is now looking like a bullish nested 1-2 that should easily rally past SP2000. The NASDAQ made a 14 year highs today and it might lead other indexes from here. So unless something disastrous happens in the next few days, bulls are going to make another run for the next few weeks until the next top. I've lost count of how many 1 wave corrections we've seen in the last couple of years but it seems we've seen them as often if not more than the traditional Zig Zags. Whatever the case, just keep an eye on the TA and we should be ok.

Also, I should add we issued a very well timed short for the recent correction and we recommended covering shorts the day before the rally started on http://www.ewaveanalytics.com Obviously, we're not always going to pick exact tops or bottoms but I think our analysis has a good combined value.

Short Term Trend = Bullish
Medium Term Trend = Bearish Trend being Challenged
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics





Friday, August 15, 2014

Elliott Wave Stock Market Update - August 15




















The market gapped up this morning but then lost all its gains before bouncing at end the day neutral.  I realized I made an error in calculating the length of the C wave. Adding length of A to 1928 gives 1968 not 1978, so the high today would satisfy a C wave and allow for a sell off on Monday. At the same time, I could argue for the nested 1-2 that will top over 2000 once the entire structure is complete. Given the bullish cross on the daily MACD, the bullish TA and the IHS pattern. It looks like bulls are back in charge. Too bad, I missed my chance to go long.. but at least, I am enjoying my long term portfolio.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bullish
Medium Term Trend = Bearish Trend being Challenged
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics


Thursday, August 14, 2014

Elliott Wave Stock Market Update - August 14




















The Trend Average has turned green with today's close and we might see a nested 1-2 develop in the next few days. The 50 DMA served as resistance and there wasn't enough conviction to get the market past it. But if the prices are able to successfully test the TA, we should see 1978 at a minimum if we get a C or much higher if it's a W3. Also, the daily MACD will probably make a bullish cross tomorrow or Monday (unless something unexpectedly bad happens), so the short term is favoring the bulls. I tried bougth Oil today but got stopped out at a loss, that to me points to stability in the Iraqi situation.  If the TA is successfully tested, I will buy the SP500.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bullish
Medium Term Trend = Bearish Trend being Challenged
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does 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.

Elliott Wave Analytics