Monday, March 27, 2017

Elliott Wave Stock Market Update - March 27






















The market ended up testing the 50 DMA as I had been projecting since support at 2376 first broke. And with the low today at 2322, we now have a possible bottom and a base for a new leg of the rally. Obviously, it is imperative that prices do not go below 2322 again and prices must recapture the Trend Average. If the counter-rally finds resistance at the TA, then we can expect the correction to continue with lower lows to come.

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


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, March 24, 2017

Elliott Wave Stock Market Update - March 23





















Prices made a lower low today and the 5 count posted has enough waves to be technically finished. However, there is still the possibility for more selling that will end up testing the 50 DMA currently at 2330. Once the selling is done, I expect a test of the Trend Average and it will be interesting to see if the rally will continue going forward or the TA will serve as resistance, which implies even lower lows. Personally, I am still hoping for a new rally to new highs before the "real" correction starts.

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 = 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

Thursday, March 23, 2017

Elliott Wave Stock Market Update - March 23






















The market attempted to rally early in the morning but gains were reversed by the end of the day. I am still expecting a lower low to finalize the 5 count posted and then we should see a rally to test the Trend Average. If prices are able to go above the TA and turnt he short term trend bullish, then we should see new highs in April. But if TA serves as resistance, then there will be more downside ahead to consolidate gains made in the last 5 months.

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


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

Wednesday, March 22, 2017

Elliott Wave Stock Market Update - March 22






















The market bounced today in what seems like a W4, so perhaps a lower low will be made that will end up testing the rising 50 DMA at 2328. Since March is coming to an end, a minor period of consolidation before one last rally to new highs around May would be ideal. We should find out in the next week or two.

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


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

Tuesday, March 21, 2017

Elliott Wave Stock Market Update - March 21






















The market had its worst sell off today since the elections and the rising 50 DMA looks like a potential target for the correction. The excuse was the ongoing debate in Congress on Trump's policies but this sell off should not come as a surprise since the market has been going parabolic for months. We could see a substantial bounce before the 50 DMA is tested but for now its best to be cautious on being long.

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


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

Monday, March 20, 2017

Elliott Wave Stock Market Update - March 20






















Prices breached the 2376 level I was watching so the 5 count I was following is no longer viable. This leaves the market with 2 options, a bullish nested 1-2 that will easily make new all-time highs or  a bearish 1-2 set up after an ABC move from the 2354 low. Given that the TA is still bullish, I am going to lean towards the bullish option but should the trend turn negative, it will be time to look at the 50 DMA as a target for a bigger correction. I did not stop out of my long position, instead I will exit if the TA turns bearish.

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, March 17, 2017

Elliott Wave Stock Market Update - March 17






















The market closed slightly down for today but the expectation for higher highs remain. There is a chance for a bullish nested set up but it's too early to tell at this point. I hope the market will behave like other years and put a high in May before going into a big correction in the summer.

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