Friday, May 26, 2017

Elliott Wave Stock Market Update - May 26






















The market went into another sideways correction today, which will allow the market to make another ATH early next week in pre-market or during regular trading hours. A new high could be a good place to short but obviously, we have to see what pattern develops. I am enjoying my longs in metals and I hope they go up even more when the market finally tops.

Have a great long weekend! I am glad summer is almost here.

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

Thursday, May 25, 2017

Elliott Wave Stock Market Update - May 25






















Prices broke out today to new ATH and could see even higher highs after a brief pullback. The 5% drop in oil did not matter and this point to strong bullish momentum. However, I continue to think this is a bag holder rally and significant change in sentiment should occur in the near future. I wouldn't be surprised if what we are seeing is the "head" of an H&S pattern.

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


Wednesday, May 24, 2017

Elliott Wave Stock Market Update - May 24






















The market made a record close today and looks like a new all-time high is coming as soon as tomorrow. The recent sell-off definitely had me fooled but the fact remains that seasonally speaking, this is about the worst time to go long. I did however close the shorts from yesterday at break even when the sideways correction became clear to me. I will make another attempt on the next bullish leg.

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

Tuesday, May 23, 2017

Elliott Wave Stock Market Update - May 22






















Prices reached the 2400 level today and with the close above the TA, the short term trend goes back to bullish again. I didn't think this would happen but there is no point in arguing with the market, it is what it is. But since the wave structure seems complete and the prices are so close to ATH resistance, I couldn't help but to short towards the close. I will see a tight stop and I will close at the pullback as there should be one coming in the next session or two.  If prices find support at 2380, there is a chance for a bullish breakout on an IHS.

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

Monday, May 22, 2017

Elliott Wave Stock Market Update - May 22


















The market continued its rally to a higher high today and was able to close above the Trend Average. I didn't think there would be enough momentum but I was wrong. Also, there is a 5 count in place from the low at 2352 and this opens the possibility of more upside and even new ATH if the TA turns bullish. With that said, I'd like to see what the bearish response will be in the next day or two as I continue to favor the possibility of an important market top around these levels.

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

Have a great weekend!


Short Term Trend = Bearish trend being challenged
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

Friday, May 19, 2017

Elliott Wave Stock Market Update - May 19






















The market counter-rally continued today and managed to test the TA at 2389 before giving up some of its gains. I'd be surprised if the market is able to close the sell-off gap early next week before heading back down but we'll see. I am holding to my gold and silver despite the gains today as I think  they will go up even more once the market unravels.

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

Have a great weekend!


Short Term Trend = Bearish
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


Thursday, May 18, 2017

Elliott Wave Stock Market Update - May 18






















Prices bounced towards the 50 DMA at 2369 after making a lower low early morning at 2352. The counter-rally was expected and doesn't do much as far as repairing the damage already in place. So the expectation is for lower lows ahead after the bag holders load up. I was tempted to buy some volatility or shorts but instead ended getting into silver and gold, as they will rally as equities come down. The bearish set up is in place and all we need is for Trump to do or say another crazy thing and voila!

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


Short Term Trend = Bearish
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