Friday, September 20, 2019

Elliott Wave Stock Market Update - September 20






















The market basically traded sideways this whole week but managed to come close to all-time highs on Thursday before giving up gains. Technically speaking, that high on Thursday would satisfy the count posted but I'll assume there will be more upside next week before ending the 5 count. If prices fall below 2978 then there should be a stronger pullback with 2921 as the end of the 5th wave.

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

Monday, September 16, 2019

Elliott Wave Stock Market Update - September 16






















The market went into a minor correction today despite a somewhat major event over the weekend (Saudi Arabia's daily production getting blown in half) so the count continues to point to more upside after this correction is over. The only way this count or pattern would be invalidated is if support at 2957 is breached during a continued pullback.

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, September 11, 2019

Elliott Wave Stock Market Update - September 11






















I remember 09/11/01 like it was yesterday. It's a sad day for America and I hope this date never fades in our memories so this never happens again.

Now, on the market, prices have continued higher as expected after the initial stages of the break out mentioned on my last post. A challenge to all-time highs on this bullish leg is possible as soon as this week so we'll see if the market can get there by Friday. I ended buying the breakout for a short term trade on my margin. Couldn't resist the set up!

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, September 9, 2019

Elliott Wave Stock Market Update - September 9






















The market ended the day flat but it looks like part of a sideways correction that should lead to another leg up as soon as tomorrow. In fact, we might even see a new ATH on this move unless there's some sort of negative surprise or some odd tweet by Trump.

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, September 6, 2019

Elliott Wave Stock Market Update - September 6






















The market broke out as expected and trade over 3000 looks likely as soon as next week. Market is in a "good mood" but I don't think there is anything supporting it other than optimism at this point. So higher prices are likely but they will be reversed at some point.

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, September 4, 2019

Elliott Wave Stock Market Update - September 4






















The market started the week in a negative note but today's bullish action and close creates a bottoming pattern that could lead to a break out as soon as tomorrow. As long as recent lows are respected, we could see prices rally towards new ATH in the short term. The China trade talks are back on track but again I doubt they will yield any substantial results.

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, August 30, 2019

Elliott Wave Stock Market Update - August 30






















The market closed the week on a positive note and the TA is now back to bullish again. The high made today challenged resistance at 2943 and should this level break then will see a rally towards ATH. However, given the pattern, another strong bearish leg down would make more sense. Also, given the fact that the markets first recuperated early in the week over a phone call from China that Trump made up, I don't see how the situation over trade has changed from the time of the sell-off to now. Tariffs are being implemented and a recession is getting closer.

Have a great holiday 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