Saturday, March 23, 2019

Elliott Wave Stock Market Update - March 23






















The market closed the week substantially down and just below the TA. The markets were spooked by the inverted yield curve, which has been a reliable predictor of recessions since 1955 without a single false signal. All recessions began 6-24 months after the first inversion. So whether the markets will defy all odds again remains to be seen but I assume many will be turning cautious and will be quick to exit if trade falls below 2755. At the same time, a golden cross is likely to occur this or next week at the latest so it is a confusing time for many technical traders. The best indicator for now is to watch where the TA is headed.

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


Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged


* 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

Tuesday, March 19, 2019

Elliott Wave Stock Market Update - March 19






















The market closed flat today after making a higher high earlier in the day. A correction to the 2787 level seems appropriate at this point to consolidate recent gains. I saw headlines in the morning about China walking back some trade concessions, if that is true, then that would be a perfect excuse for proper correction this or next week. For now, nothing seems to be stopping this market.

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 = Bearish trend being challenged


* 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

Monday, March 18, 2019

Elliott Wave Stock Market Update - March 18






















The market has made another higher high and is close to staging a breakout. Also, a golden cross should occur in the next week or two and this could push the index to new ATH. I have been waiting for an entry point but I might thrown in the towel and go in in the next correction.


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 = Bearish trend being challenged


* 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

Thursday, March 14, 2019

Elliott Wave Stock Market Update - March 14






















The market has refused to go down much and it looks like there will be another bullish leg coming up soon unless the 2803 low breaks. At this rate, a golden cross will occur in the next week or two and all signals will support a continued bull run towards ATH.

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 = Bearish trend being challenged


* 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

Tuesday, March 12, 2019

Elliott Wave Stock Market Update - March 12






















The market has staged a strong counter-rally that invalidates the previously posted short-term count and unless there is a lower low soon then the rally will continue. I still prefer to see an IHS for predictability's sake but the trend is what guides the market.


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


Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged


* 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

Thursday, March 7, 2019

Elliott Wave Stock Market Update - March 7






















Selling has continued as expected and support was broken so the bias is now clearly bearish. My assumption is that prices will go into the 2600's and 2603 or 2681 holds will give us a clue for the next few months. A correction that ends up bottoming at 2603 or 2681 would create an IHS pattern that targets 3250. But given the fact this bull market is now 10 years hold (March 9, 2009) it wouldn't be a surprised if we will see a much deeper correction and eventually a real bear market. I will be going long using the support levels I mentioned but if they break then I will continue to wait for good entry levels.

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


Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged


* 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

Wednesday, March 6, 2019

Elliott Wave Stock Market Update - March 6






















Prices came down today as expected but remain above the critical level of 2764. Selling could accelerate if this support level breaks but if it holds then it means there is still room for one more leg up. Also, there is a bearish cross on the daily MACD oscillator and that is normally a reliable indicator or downside to come.

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


Short Term Trend = Bullish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged


* 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