Wednesday, April 26, 2017

Elliott Wave Stock Market Update - April 26






















The market got very close to making an all-time high early in the morning but reversed after hitting a high of 2398. There is a good chance we will see a new high in the next few sessions so we might get the "Sell in May" I have been talking about after all. I think the tax cut proposals by Trump is long overdue and I know, as a businessman, that lower taxes for business encourage growth, investment and stronger economic expansion. I am not the biggest fan of Trump, but I really like the tax plan. I just hope they pass it without all the typical political drama in Washington.


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


Tuesday, April 25, 2017

Elliott Wave Stock Market Update - April 25






















If there was any doubt yesterday the trend had turned bullish, today's follow-through action solidifies the trend change. I was expecting a pullback before more upside but momentum seems firmly behind the bulls. in fact, I wouldn't be surprised to see a new all-time high before any substantial correction at this point. The NASDAQ closed at an all-time high, so maybe that index shows where the broader market is headed for the next few weeks. I will get back in during the correction, just hope it doesn't take forever.

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

Monday, April 24, 2017

Elliott Wave Stock Market Update - April 23






















The market rallied past resistance today and the trend has turned positive again. The outcome of the French election is the excuse so not sure how sustainable the rally is. But the bottoming pattern has been correct and now that resistance has been cleared, I am looking for a 5 wave pattern to confirm the market is in for another bullish cycle. If 2361 holds the coming pullback, then it's a sign prices will be headed towards 2400.

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, April 21, 2017

Elliott Wave Stock Market Update - April 21






















The market went into a minor correction today but its too early to tell if there will be another challenge to resistance. The bottoming pattern looks like it could hold but with the French elections this weekend and other geo-political issues, the market could find an excuse to revisit the 2322 low again. The one thing that could be a positive and one which I am paying close attention to, is the tax cuts  proposal next week by Trump. I hope he cuts taxes at the higher end as this will incentivize the economy. I live in a state where basically 50% of my income (in Federal and State taxes combined) above a certain level goes to the government. And what incentive do I have as an entrepreneur to work more when the government takes an equal or higher share of my earnings? it's ridiculous and highly damaging to a free market economy. If they want more money, they should focus on being more efficient first before asking working people for half their income.

Anyway, hope everyone has a good 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, April 20, 2017

Elliott Wave Stock Market Update - April 20






















Prices rallied substantially today and made a higher high just below the resistance level I mentioned couple of days ago. If prices manage to make a lower high on the retrace, there is a good chance the correction is over. However, a breach of recent lows means there is still room to go down before a bottom is found. I am playing it safe, so I sold my long positions for a minor profit and looking to re-enter on the retrace.

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 = 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, April 19, 2017

Elliott Wave Stock Market Update - April 18






















Prices rose early morning to make a higher high but got stopped at resistance and reversed  for most of the day. The bottoming pattern still remains but recent lows should not be breached as that would mean more selling ahead. I meant to raise my stops to break even in the event of a bullish open but I got lazy. So now I am just hoping bulls can regain control in the next session 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 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, April 18, 2017

Elliott Wave Stock Market Update - April 18






















Prices retraced some of yesterday's gains and and there is now a bottoming pattern in place. I favor a higher high for the current bounce but the real test will come at the 2366 resistance level. I went long at 2342 and I am setting a tight stop just in case.

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 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, April 17, 2017

Elliott Wave Stock Market Update - April 17






















The market managed to mount a decent counter-rally to test the declining Trend Average in today's session. If the TA is re-captured, the bulls have a decent chance of staging a good rally to top in May. But if prices can't get past resistance, then we will see further downside to come in the near future. I am going to be patient and jump back in once the market makes up its mind.

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, April 13, 2017

Elliott Wave Stock Market Update - April 13






















The market attempted to bounce earlier in the morning but bears took control after Trump dropped the mega-bomb in Afghanistan. The news was just basically an excuse to test the 2322 level mentioned a few days ago, so now we have to see of this level will hold or give way for a test of the next support level at 2300. I lucked out and managed to actually profit by selling my longs earlier in the morning and will be buying as close to 2322 tomorrow if I see a possibility for a bottom.

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 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, April 12, 2017

Elliott Wave Stock Market Update - April 12






















The market has continued to struggle and it has closed under the 50 DMA for the first time since November 2016. If bulls fail to re-capture 2350 in the next few sessions, there will be substantial  downside in the next few weeks. I went long at 2343 with a stop at 2337, so we'll see if the market can reverse itself tomorrow.

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, April 11, 2017

Elliott Wave Stock Market Update - April 11






















Prices broke down as expected in today's session and went below the first level of support (2344) early in the morning. The bottom at 2337 might be re-visited again if prices are not able to get past 2363 on the current bounce. A break of 2337 should lead to a test of 2322 and that should be the lowest the market could go while being in generally bullish mode. I am still hoping for a market rally after the correction but it better get started soon or risk a much bigger correction.

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, April 10, 2017

Elliott Wave Stock Market Update - April 10






















Prices have continued to trade sideways but failure to gain bullish traction will likely lead to a test of 2344 or even 2322 in the next few sessions. Still, once the correction is over, we should see a rally to new all-time highs before any real selling takes place.

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, April 7, 2017

Elliott Wave Stock Market Update - April 7






















The market closed basically flat for the day but now the Trend Average has turned bearish. There is not impulse so far to the downside, so there is still hope for a bullish move next week. However, it's best to be cautious now given geopolitical events. Military action in Syria has overshadowed the seemingly positive US-China summit, so it remains to be seen if there are any other surprises this weekend. No news will be good news IMO, but we will see.

Have a great weekend!

The market made a lower low today at 2344 and bounced substantially from that point for most of the day to close right on the Trend Average. If the count posted is correct, we should start seeing a W3 impulse in the next few sessions to new all-time highs. There is obviously room for lower prices, but I think a rally from this point on would be ideal for the "Sell in May" scenario. We'll find out soon.

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, April 6, 2017

Elliott Wave Stock Market Update - April 6






















Prices counter-rallied somewhat today but not enough to close over the TA. Technically, the sell off from yesterday could be an ABC with a new 5 count starting today. But if there is a lower low tomorrow, then we will have 5 waves down from 2378, which could lead to more selling ahead. But with the US-China summit taking place, I think the outcome should lead to a rally as I am sure there will be "good news" for both sides.

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


Short Term Trend = Bullish trend being challenged
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, April 5, 2017

Elliott Wave Stock Market Update - April 5






















Prices started the day bullish by impulsing higher and taking out the most recent high at 2370. However, a sudden reversal came after the Fed announced they will start cutting back the $4.5 trillion balance sheet. In the general sense, it's a good thing since it shows confidence in the economy and will give room the the Feds in the future when the next recession hits. The stock market didn't like the news much but as long as support continues to hold, the path of less resistance is up. With that said, another close under the TA and we will likely see another test of the 50 DMA if not the 2322 low.

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


Short Term Trend = Bullish trend being challenged
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, April 4, 2017

Elliott Wave Stock Market Update - April 4






















The market closed marginally higher today after a minor correction early in the morning. The close continues to be above the TA and there is a small ascending triangle as well, so the pattern favors upside tomorrow that should challenge and probably exceed the recent high at 2370. Hard to say what will be the catalyst for the next market rally but maybe the US-China summit might be used as an excuse? Trump did a lot of China bashing during his campaign but has changed his tone lately about the subject, so maybe they will come out with something that looks "constructive" to everyone which is ultimately bullish for the markets.

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

Monday, April 3, 2017

Elliott Wave Stock Market Update - April 3






















The market made a lower low today at 2344 and bounced substantially from that point for most of the day to close right on the Trend Average. If the count posted is correct, we should start seeing a W3 impulse in the next few sessions to new all-time highs. There is obviously room for lower prices, but I think a rally from this point on would be ideal for the "Sell in May" scenario. We'll find out soon.

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 31, 2017

Elliott Wave Stock Market Update - March 31






















The market technically went into a correction today but it was mostly sideways. So the pattern might turn out to be a bull flag with higher highs to come sometime next week.  Long term oscillators have reset enough in the past weeks to produce another substantial rally next month, so it's best to just stay long as long as the TA is bullish. I normally would have sold some longs but I think I'm going to hold until the trend changes again.

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

Thursday, March 30, 2017

Elliott Wave Stock Market Update - March 30






















The market made a higher high as anticipated and the count posted is technically completed and ready for a minor correction. However, given recent euphoria and end of the quarter window dressing, there is a good possibility of the wave extending or even calling the correction to 2352 a W2. The Trend Average is back to bullish and there is plenty of room to rally for the next few weeks to substantially higher highs before the "Sell in May" event. The same people who made the market drop to and then bounce from the 50 DMA will be the same people selling at the peak around that time.

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

Wednesday, March 29, 2017

Elliott Wave Stock Market Update - March 29






















Prices have closed again above the Trend Average but there wasn't enough momentum to turn the trend bullish. Still, the pattern fits a W4 and we should see a higher high to complete the 5 count. Once we have the waves in place, we could be looking at an Inverse Head and Shoulders that will easily get past the all-time high at 2400.

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 = 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 28, 2017

Elliott Wave Stock Market Update - March 28






















Prices have rallied towards the Trend Average as expected and the close was right on it.  Given the sharp rally from yesterday's lows, it looks like there will be a 5 count on this wave so it might go as high as 2381 before completing the count. With that said, there are only 3 waves in place and the pattern count also be interpreted as an ABC with a sell off to come. But given the close on the TA and the fact that it's not May yet, I lean towards more upside before we see serious selling.

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 = 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 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