Thursday, February 4, 2016

Elliott Wave Stock Market Update - February 4





















The market made a higher high today but bullish momentum seems to be waning and we could see selling resume as soon as tomorrow. As long as the "Head" of the H&S at 1947 stays in place, the risk is to the downside. Perhaps the coming jobs report will be used as a catalyst to move the market out of range.

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 = Bearish
Long Term Trend = Bearish


* 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.

Wednesday, February 3, 2016

Elliott Wave Stock Market Update - February 3





















The market bounced right off the 1872 support I mentioned yesterday and ended up closing the day comfortably above the Trend Average. However, the 1872.23 low today eliminates the possibility of an impulse count that had originated at 1872.70 a few days ago. So while on the surface the market appears bullish, the pattern is biased towards the bearish side. There is a head and shoulder's in place that targets 1797 and the only way we would see this pattern reversed is if the rally continues and breaks resistance at 1947.20. Seems like bulls haven't made up their minds yet.

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 = Bearish
Long Term Trend = Bearish


* 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.



Tuesday, February 2, 2016

Elliott Wave Stock Market Update - February 2




















The market ended up testing the Trend Average today and confirming the end of the micro 5 waves I had labeled yesterday. If the 5 waves are the beginning of a sustained rally, then this correction will not go below 1872 and we will see a break out wave by this week or early next week. However, if 1872 breaks then we could see a continuation of the selling that started early January.

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 = Bearish
Long Term Trend = Bearish


* 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.

Monday, February 1, 2016

Elliott Wave Stock Market Update - February 1





















A higher high was put in today and I see a micro 5 count completed with this high. I have yet to label the other ways until I get a better idea if this is a corrective move from the 1812 low or the beginning of a sustained uptrend. Oil retreated substantially today but that didn't affect equities all that much and that is in itself a sign equity bulls are in control at this point.

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 = Bearish
Long Term Trend = Bearish


* 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.

Friday, January 29, 2016

Elliott Wave Stock Market Update - January 29





















The market finally made a decisive move to break out of resistance and there should be enough momentum to hit the IHS target of 1978. Most importantly, the Trend Average has turned bullish and there is a new bullish MACD cross on the daily.  We should find out soon if this is just another counter-rally or the beginning of a sustained uptrend in the next few weeks. Oil hit another higher high today and there is a good chance we might see prices stabilize going forward. If Oil can find its footing, equities should be able to test the 2040 level and maybe even re-capture its 200 DMA. I knew Marc Faber announcing he would not see another bull market in his lifetime a few days ago was a sign of a bottom, he's the ultimate contrarian indicator.

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 = Bearish
Long Term Trend = Bearish


* 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.


Thursday, January 28, 2016

Elliott Wave Stock Market Update - January 28



















The market managed to close above the Trend Average but still hasn't made a significant move to break out of the pattern. Oil has resumed its rally towards the $37 level and technically this should be a good enough excuse for equity bulls to come back. But I guess bulls are trying to make up their minds at this point. China has made another lower low and it is now off almost 50% off its recent peak from summer 2015. Retail investors dominate the SSEC and it is interesting to see how the same people who were buying like crazy less than a year ago are now selling a market that is extremely cheap at the moment.  I was hoping I'd hit my retirement goal this year but I guess I might have to wait until my original 2017 year after all.

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 = Bearish
Long Term Trend = Bearish


* 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.

Wednesday, January 27, 2016

Elliott Wave Stock Market Update - January 27





















Upper resistance broke today but gains were reversed after the Fed statements. The pattern doesn't look as bullish as it did yesterday but it still has a good chance of a break out. Oil rallied today and continued stability in energy should give equities the excuse to start a multi-week rally. However, until the Trend Average turns bullish, the best is to be cautious on long trades.

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 = Bearish
Long Term Trend = Bearish


* 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.