Thursday, July 28, 2016

Elliott Wave Stock Market Update - July 28




















Not much to add today other than it is now the 11th day of this sideways trading within a tight range. It's actually getting boring! I'm still long and hoping.

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 into consideration other factors.

Elliott Wave Analytics



Wednesday, July 27, 2016

Elliott Wave Stock Market Update - July 27




















The market managed again to test support and bounce again to make this the 10th consecutive session of bouncing around within a relatively tight range. I don't remember this long of a sideways move in years or ever for that matter. But I think it is safe to say a move out of range should come fairly soon. The close today is the first below the Trend Average since late June but this is a case of the market catching up to the TA and that normally indicates a time correction is finished or about to finish. So the market is ripe for another rally at this point, people who have been waiting to buy just need to make up their minds.

I almost got stopped out again today but prices bounced again off support. So I am hoping there will be a decisive move tomorrow or Friday so we don't go into the weekend in suspense.

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 into consideration other factors.

Elliott Wave Analytics



Tuesday, July 26, 2016

Elliott Wave Stock Market Update - July 26




















The market didn't do much today but a stronger move should come tomorrow. My stop on my long position almost triggered in the morning but prices bounced off support again and hopefully we will see a bullish break out from the recent sideways pattern tomorrow.  It's been 9 days since the market got to this level and there have been 7 bounces off support which should be enough of a base for a new bullish leg to rally from.

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 into consideration other factors.

Elliott Wave Analytics



Monday, July 25, 2016

Elliott Wave Stock Market Update - July 25




















Prices failed to make a higher high today but there was a new all time high in pre-market trading and unless there is a lower low tomorrow, new all time highs are about to come. Once we get a substantial move higher then perhaps we will finally see a stronger sell off to test 2134 or 2159 if the top ends up much higher. I am going to go long right after this post in after-hours and use 2159 as my stop.


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 into consideration other factors.

Elliott Wave Analytics



Friday, July 22, 2016

Elliott Wave Stock Market Update - July 22




















The market rallied towards resistance as expected but was able to clear it and close the day marginally below its all time high. While a bearish pattern remains in place, a minor break of all time highs will signal the 5th micro-wave is still not done. I was tempted to short the market at resistance but looking at the impulsive look of the wave I refrained from it. I don't short impulsive waves or break outs, no need to be masochistic about it. The Trend Average has caught up with the market and we should see a stronger move fairly soon.

Lastly, I wanted to add that I watched the Donald speak last night. He is usually busy fighting or insulting people but he had a chance to speak to the public like a normal person. While I am no fan of Trump, I think he is going to do the unthinkable and win this election. He is a talented speaker and his delivery was effective. He is able to move the public with his populism and nationalism and since he is running against Hilary, it will be easy for him to portray her as a failure. So it looks like Trump will be getting the blame for the coming recession and mark my words it is coming sooner than later.

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 into consideration other factors.

Elliott Wave Analytics





Thursday, July 21, 2016

Elliott Wave Stock Market Update - July 21




















Prices corrected down to the 2159 support area earlier in the day and the bounce from this level has created the first potential topping pattern in quite some time. A rally to resistance at 2168 should be expected and I am going to get a short position at that level with a stop at the ATH assuming prices get there in a "corrective" form. If the pullback is confirmed, the natural target for the correction will be the gap at 2134.

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 into consideration other factors.

Elliott Wave Analytics



Wednesday, July 20, 2016

Elliott Wave Stock Market Update - July 20




















Few weeks ago I stated:

Once gains are digested, the Inverse Head and Shoulder's pattern will be in place and it will be interesting to see its target of 2220 achieved. This might sound unthinkable to people who think this is a "bear market" but the pattern is there and the trends are supporting it.

Today's new all time high gets the market closer to the IHS target and prices might even get there later this month or early August at the current rate. The micro-count posted is technically finished since there are 5 waves in place but it would look better if the Ascending Triangle target mentioned yesterday is hit. Whatever the case, there are still plenty of bears and that helps push the market up during a break out. Only when everyone is bullish will things truly get 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 into consideration other factors.

Elliott Wave Analytics