Thursday, May 24, 2018

Elliott Wave Stock Market Update - May 24






















Prices had a bearish start for the day after Trump announced he would be cancelling the much anticipated meeting with N Korea but the market regained most of the losses by the end of the day. The close is again above the TA and all this sideways trading could be interpreted as a correction. So unless support is broken for good, we will see another rally coming in the next few sessions.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 23, 2018

Elliott Wave Stock Market Update - May 23






















The market had a bearish start today but was able to erase losses and end the day in black. If the market continues the count posted, we should see further downside or sideways trading before another bullish wave to higher highs.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 22, 2018

Elliott Wave Stock Market Update - May 22






















The market made a higher high to technically finalize the count posted. Whether or not there is more upside remains to be seen but if we see a Trend Average test then probably we will see more of a corrective period before another substantial rally. The worst season for stocks is coming up so it will be interesting to see the market holding up during this time.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 21, 2018

Elliott Wave Stock Market Update - May 21






















Prices climbed higher today but still feel short of making a higher to complete the 5th wave on the chart. There is a chance of a failed 5th if we don't see a higher highs tomorrow. I can't image the market going sideways again without breaking our or breaking down.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 18, 2018

Elliott Wave Stock Market Update - May 18






















The market ended slightly down but the count continues to be in play. It seems like the market is waiting for the outcome of the US-China trade talks. Trump was downplaying expectations yesterday but then he was "hopeful" so who knows what that will come down to. The only predictable thing about Trump is his unpredictability. I am staying long over the weekend so we'll see.

Have a great weekend!

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 17, 2018

Elliott Wave Stock Market Update - May 17






















Not much to add today as the market basically traded sideways and closed flat. Still waiting for the 5th wave to materialize.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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, May 16, 2018

Elliott Wave Stock Market Update - May 16






















The market started to bounce today and we should see a higher high if the count posted is correct. If the market goes into a correction and doesn't go below 2704 then we should see a strong bullish wave in the next day or two. If 2704 breaks then 2683 would be the line in the sand for the 5 count to remain in play.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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