Friday, January 20, 2017

Elliott Wave Stock Market Update - January 20






















The market as remained in a stand still mode despite the presidential transition. I was hoping to see a new high by now, but trading remains stuck in the same range for the last 2 weeks. Normally, bullish patterns break-out strongly after a period of consolidation. However, the consolidation for the past couple of weeks is rather long and puts into question the short term uptrend, especially now that the market closed right at the TA. So, while the general uptrend continues to be bullish, I see the possibility of a test of 2250 again before bullish momentum can truly gain traction. And obviously, if prices are able to break through the series of recent lower highs next week, then it will be all clear for a bullish run towards 2300. For now, I rather be cautious, so I closed my long position for a marginal profit.

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 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

Thursday, January 19, 2017

Elliott Wave Stock Market Update - January 19




















The market failed to continue yesterday's bullish momentum and was under selling pressure for most of the day. The close is under the TA and my assumption is a strong move will come fairly soon, as it almost seems like the market is waiting for the presidential inauguration. Corporate earnings have been mostly positive, so the fuel is there to push the market to new highs.

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


Short Term Trend = Bullish 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

Wednesday, January 18, 2017

Elliott Wave Stock Market Update - January 18






















The market hasn't really done much but wait in the last few sessions. But since Obama's last full day in office is tomorrow, I will not be surprised if prices rise to a new all-time high. The real question now is what happens now that Trump is sworn in. Tariffs and trade wars will definitely bad for the economy in the long run, that to me is a given. So we'll see how Trump will handle all the populist policies he campaigned on.

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, January 17, 2017

Elliott Wave Stock Market Update - January 17






















The market started the week on a down note, but the bullish set up remains in place as long as support doesn't get breached. Maybe the market is timing Obama's exit for an all time high? I wonder what the market will be at when Trump leaves. Also, I hope Trump's economic policies end up working out so the economy gains traction. But I also hope he will be banned from Twitter and stop being so offended by Saturday Night Live.. lol.

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

Friday, January 13, 2017

Elliott Wave Stock Market Update - January 13




















The market closed up today but remains under resistance. Again, I assume prices will start breaking out sooner than later to a new trading range, just in time for the presidential transition. Also, it's worth noting the NASDAQ closed at an all time high today and this supports a broad market rally in the next week or so. I labeled a possible micro-count on the chart, so we'll see if prices follow the pattern earlier next week.

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

Thursday, January 12, 2017

Elliott Wave Stock Market Update - January 12




















Prices plunged at the open through 2260 support, eliminating the previous bullish set up. However, there was a strong counter-rally after a bottom at 2254 was found and the market closed comfortably above the Trend Average. I was hoping we would see ATH today but the market has not made up its mind yet. So now, key support for an ongoing rally becomes 2254 and new highs will come if the TA remains bullish.

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, January 11, 2017

Elliott Wave Stock Market Update - January 11






















Prices tested the 2260 uptrend support today after Trump started talking about how pharmaceuticals companies are screwing the American consumer (which I strongly  agree), but support held and prices bounced back and closed the day on a positive note. And, if there aren't any surprises tomorrow, I expect a new all-time high in the next session or two.

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