Wednesday, January 22, 2020

Elliott Wave Stock Market Update - January 22






















Prices made a new ATH again today after a mild correction yesterday and the bias continues to be bullish. Maybe, the new coronavirus outbreak will be used as the excuse to finally send the market into a real correction. For now, it seems like the market wants to keep rallying.

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

Tuesday, January 21, 2020

Elliott Wave Stock Market Update - January 21






















The market went into a "correction" today after almost non-stop rallying in the last couple of weeks but so far it looks like a very minor correction. So nothing for bears to get excited about yet, not until the Trend Average turns red which hasn't happened since early December.

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, January 17, 2020

Elliott Wave Stock Market Update - January 17






















The market closed the week at another all-time high and it seems like prices are about to go parabolic at this point. Technically speaking, the market is overdue for a stronger correction but the fact traders have learned to ignore the political news and now we have the truce in the China-US trade war, prices  could continue to go up for the rest of the month to unimaginable levels if the Trend Average keeps its bullish bias. I have stayed out of the US market for most of 2019 but I do have some positions holding DVY since November and probably will not sell until I see a topping pattern in play.

Have a great 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

Wednesday, January 15, 2020

Elliott Wave Stock Market Update - January 15






















The market reached another new ATH today before giving up most of the gains by the close. The excuse was the signing of the "Phase 1" of the China-US trade deal but in reality, it doesn't really amount to much economically. Trump just wanted something done to claim some sort of credit which I am sure his supporters will give him regardless. In 12 months, we'll see if Trump can hold on to the presidency.

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, January 13, 2020

Elliott Wave Stock Market Update - January 13






















The market has made another ATH and looks like it will continue its rally for the next few weeks given the impulsive look of the most recent 5 wave count. It's actually incredible how much the market keeps going up. At the same time, my business is doing well which is a reflection of a strong economy so maybe that is a better indicator than our attempts to predict the market based events.

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

Thursday, January 9, 2020

Elliott Wave Stock Market Update - January 8






















The market made a new ATH today but remains to be seen if this high is part of an expanded flat correction or part of the 5th wave as the low made on 01/06 could technically be considered a W2. What happens in the next few sessions should give us an idea of the general direction for the market for the rest of the month. For now, the bias continues to be bullish.

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, January 6, 2020

Elliott Wave Stock Market Update - January 6






















The market gapped down early morning and make a lower low just above support at 3212 before rallying and and erasing all losses. It is still too early to tell if this is part of a sideways correction or the beginning of a stronger pullback but how ATH at 3257 holds as resistance should give us a clue of what's to come for the next few weeks. Going by the news, one would assume something big and bad is coming as retaliation for the assassination of the Iranian commander. And btw, that excuse by Trump that he had him killed to "protect Americans" is as old and disingenious as the WMD excuse for the Iraqi War disaster. I get the feeling Trump is completely clueless as to what he is doing in the Middle East. So much for ending "Endless Wars"..

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