Friday, May 27, 2016

Elliott Wave Stock Market Update - May 27




















The 5th wave on the micro-count materialized today and technically speaking the wave structure from the 2025 low has enough waves to be considered complete. However, I think there's room for a push towards the 2111 high and if W5 would equal W1 then the target is 2120, so maybe bulls will come back in a really good mood after the long weekend and push prices substantially higher before a correction to the Trend Average. I didn't sell any of my longs today but I'll sell them towards a rally towards resistance and perhaps use those profits to buy VXX options for the correction.

Have a great and safe 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, May 26, 2016

Elliott Wave Stock Market Update - May 26




















The market technically went into a correction today in what seems like a micro W4 but the pattern points to at least one more leg to challenge this year's high at 2111. Once the count completes, I expect a test of the rising Trend Average. What happens at that point is still unclear as there is still room for deeper corrections. But I already started building long positions in case this is the start of the LT-W5 to new all time highs. The stops are clear at this point so risk is fairly limited even after this rally. Perhaps 2016 will be the year the stock market finally peaks after a massive rally from its 666 lows. Maybe Pretcher was correct about 2016 being an important year, only that it was a significant high and not the ridiculous Dow 1000 or whatever it was he was predicting years ago.

http://www.financialsense.com/contributors/robert-prechter/prechter-deadly-bearish-big-picture 


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, May 25, 2016

Elliott Wave Stock Market Update - May 25




















The rally continued today as expected and prices have already reached the IHS pattern I was hoping to trade couple of days ago. I expect a pullback once the 5 waves are completed to test the rising Trend Average and that will be a good point for me to go long. All major trends are now bullish for the first time this year, so this could be the beginning of a rally to new all time highs.

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, May 24, 2016

Elliott Wave Stock Market Update - May 24




















The market rallied substantially today following the micro-count posted. I was hoping prices would go just a bit lower to trade the Inverse Head and Shoulder's pattern but unfortunately bulls decided to leave without me. However, there will be more chances to get in the near future. I try to keep my risk at 3:1 (risk 1 for a 3x return) so that even if there is a 50/50 profitable trade rate, I'll still be substantially ahead.

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


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 into consideration other factors.

Elliott Wave Analytics


Monday, May 23, 2016

Elliott Wave Stock Market Update - May 23




















The market went into a correction as expected and I am looking to see how the 2039 level holds in the next couple of sessions. Support at that range will help the market rally towards the 2100 level so hopefully I'll be able to get long on a favorable set up.

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 into consideration other factors.

Elliott Wave Analytics


Friday, May 20, 2016

Elliott Wave Stock Market Update - May 20




















The market managed a decent bounce today that could be setting up the market for a new rally as long as yesterday's low holds. It would still be good to see the 200 DMA at 2012 tested but there are enough corrective waves in place to call for an end of this multi-week correction. With that said, looking at the patterns on a daily chart, I see a potential Head and Shoulders targeting 1970 so that has to be taken into consideration as long as the short term trend remains bearish. I will go long early next week if I see corrective waves to 2039.

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 = 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 into consideration other factors.

Elliott Wave Analytics


Elliott Wave Stock Market Update - May 19




















Sorry for the late update. I've been driving for most of the day to Northern California to meet friends and just didn't have the time. A 200 DMA test looks likely given today's lower lows and I think we should see the market start rallying fairly soon or start breaking down if a bearish pattern in place plays out. I'll elaborate more on that on the next update, it's time to go to sleep.

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 into consideration other factors.

Elliott Wave Analytics