Friday, August 29, 2014

Elliott Wave Stock Market Update - August 29




















The market made an new all time high overnight but it was already correcting by the time the cash market opened. I usually take into account what happens in pre-market, so this wave from 1990 to the equivalent of 2006 in the cash market could be considered the 5th wave or wave 1 of 5th. There's also the chance of an expanded flat scenario where the market will test the 1990 low again, but I am assuming the W4 is done. If w1 of 5th was from 1900-2006, then I have 2030 as the target before we see a substantial correction. The situation in Russia is not getting better, and it could be the catalyst for a strong correction so many have been waiting for once all the waves are in. But for now, the market is ignoring geo-political events and focusing on higher highs.

Have a great long 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 28, 2014

Elliott Wave Stock Market Update - August 28




















The pulback has continued today and the market made a slightly lower low. And like yesterday, the correction could now be over since short term oscillators have been reset and the market has chosen to ignore Russia. If Russia had sent troops to Ukraine a few weeks ago when the market was under the 50 DMA, I am sure the market could have really sold off. But for now, the market doesn't think Russia going into actual war is going to impact the equity markets much. The market wants to make new highs and apparently there isn't much that is going to stop it for the time being.

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 27, 2014

Elliott Wave Stock Market Update - August 27



















The market corrected as I was expecting and so far it looks like it will be a small W4 correction. Perhaps it will go into some form of zig zag to the level I mentioned yesterday, but I can also see the low for today as the entire correction since that low coincides with support. So we'll see how the market reacts to the news of Russia actually sending personnel into Ukraine to fight. If the market ignores it, chances are new highs will come as soon as this week. I closed my shorts for a small profit to avoid the risk of a gap up, but I will buy them back when I see the structure completed.

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 26, 2014

Elliott Wave Stock Market Update - August 26 | All Time High Close




















Today we got yet another all time high, but unlike the other 29 highs this year, this one is historical since it is the first time the SP500 has closed over 2000. The first time the DJI crossed 2000 was in 1987, so whoever thinks the SP500 is way too high, look at the 17,106 close on the DJI today. You simply can't fight real GDP growth + Inflation in the long term, this is why people who buy and hold do well over long periods of time. With that said, we are trying to time the market here so we can make an extra few bucks, so I ended up shorting at my 2004 target as I now see the W3 completed. I am looking for a mild correction to the 1979-85 area or the Trend Average, but if the market decides to sell off, I am ok with that too but I highly doubt it.

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




Monday, August 25, 2014

Elliott Wave Stock Market Update - August 25




















My suspicion on Friday was correct and today we got the 5th wave to complete the 3rd wave from the 1904 bottom. Looking at the micro count, it still looks like there is another minor push up, so the 2004 level I mentioned on Friday might get hit before a correction to the 1979-1984 area. Now that the index is exactly 3X 666 (March 2009 low), it makes me wonder how many people using Elliott Wave in 2009 were able to enjoy this 200% return. To be clear, I completely missed the run up initially because I was stuck with the old theory. But what I learned in the past few years is invaluable and will hopefully help me achieve my retirement goal in the not too distant future.. 2017 is just around the corner, which is my target retirement year.

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



Friday, August 22, 2014

Elliott Wave Stock Market Update - August 22




















We got a small 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 see more downside on Monday but it's safer not to risk it unless there are clearly 5 waves in. If the wave from 1984 to 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