Wednesday, August 24, 2016

Elliott Wave Stock Market Update - August 23




















Prices went under the 2175 resistance level mentioned yesterday and now the market is facing the possibility of a top. A drop below 2168 would confirm a deeper correction and turn the Trend Average bearish. With that said, not all bullish hope is lost as the overall trend remains bullish and the market still trades above the Aug 17th low of. I decided to keep holding low until the TA becomes negative.

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 = 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 23, 2016

Elliott Wave Stock Market Update - August 23




Prices broke out of the triangle today but reversed a good portion of the gains by the end of the day. The somewhat pronounced reversal takes out a micro W3 out of the equation for today's wave, leaving a nested bullish set up as the only feasible bullish pattern. Continued upside should be expected as long as 2175 doesn't get breached.

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 22, 2016

Elliott Wave Stock Market Update - August 22




















The market didn't do much but triangulate in today's session. Normally, these types of moves end up breaking out towards the direction of the trend. But there are "failures" to this pattern and a break of 2175 resistance would be a a sign of a possible change of trend. I am holding on to my positions and hope we'll see the count evolve as labeled.


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 19, 2016

Elliott Wave Stock Market Update - August 19




















The market went into a minor correction today but managed to close right at the TA. I'd like to see count confirm next week by going towards higher highs. Failure to gain traction will most likely result in a change of trend and a stronger correction. However, overall momentum continues to favor the bullish side. I am keeping my longs and my stop at 2168.50.

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 18, 2016

Elliott Wave Stock Market Update - August 18




















The market continued its counter-rally that started yesterday and ended the day at gap resistance. Considering the market continues to trade above the Trend Average, the assumption is new all time highs will be achieved as long as yesterday's low doesn't get breached. I went long again today using the new set up so hoping we will see the all time high challenged soon.

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 17, 2016

Elliott Wave Stock Market Update - August 17




















The small IHS set up I had been following was eliminated with today's low at 2168 but the market still managed to maintain its short term bullish by closing marginally above its Trend Average. Looking at the count, the only possibly bullish way to count this is by assuming this is an expanded flat with today's low being the low point of a strong bullish wave to come. However, if the market fails to keep trading above the Trend Average (currently at 2182) then the market will have topped for the time being and a stronger correction will occur in the near future.

I was stopped out at 2172 but going back long if I see further signs of the expanded flat being the correct count.

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 16, 2016

Elliott Wave Stock Market Update - August 16




















The nested bullish  1-2 count I was hoping for was invalidated today with today's breach of 2179. However, the IHS pattern remains in place as long as 2172 holds a continued correction. August is the slowest month of the year in terms of volume and any sudden interest in buying (or selling) could move the index substantially. Since I am long, I am hoping the Fed minutes will be the excuse tomorrow for a rally to 2,200+.

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 = 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