Monday, July 22, 2019

Elliott Wave Stock Market Update - July 22






















The market closed slightly up today but it wasn't enough to recapture the TA so now the trend has gone bearish. What remains to be seen is how support at 2963 holds as it is crucial for this pivot to hold if the rally is to continue to higher highs.

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

Friday, July 19, 2019

Elliott Wave Stock Market Update - July 19






















The market closed the week down -1.23%. Most of the gains from yesterday bounce were erased today and continued weakness will turn the TA bearish. But as I said on my last post, as long as 2963 is not breached the pattern points to higher highs.

Have a great weekend!

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

Wednesday, July 17, 2019

Elliott Wave Stock Market Update - July 17






















The market has gone into a stronger correction after making an all-time high on Monday. The close today was below the Trend Average but the pattern still favors more upside as long as 2963 doesn't get breached. A break of 2963 would bring a "real" correction in the next few weeks.

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

Monday, July 15, 2019

Elliott Wave Stock Market Update - July 15






















The market made another high earlier in the morning as expected but not by much. We need to see a bit more consolidation or a pullback for another stronger rally to come. With the China trade talks starting again this week, the market will have an excuse to keep pushing higher.

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, July 11, 2019

Elliott Wave Stock Market Update - July 11






















The market has closed at an all-time high as expected and continued upside is likely if recent lows hold any pullbacks. Maybe we will see 4000 in the not too distant future!! We are now in the longest economic expansion ever so this could turn out to be a "W3" of economic expansions.

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, July 8, 2019

Elliott Wave Stock Market Update - July 08






















The market closed down today but did not make a lower low. If 2967 continues to hold then we can expect a challenge to all-time highs in the next few days.

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, July 5, 2019

Elliott Wave Stock Market Update - July 05






















The market opened down today and tested the TA before erasing most of its losses by the end of the day. We should see 3000 next week if the low today holds. The reason for selling today was the strong jobs report, which is actually a good thing for the economy but instead it was used as an excuse to take profits. I wonder if the market will be able to reach 4000 before the next recession comes.

Have a great weekend!

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