Tuesday, August 22, 2017

Elliott Wave Stock Market Update - August 22






















The market counter-rallied substantially today to test the Trend Average as expected. The wave looks like a potential 5 count, so I am assuming the rally will continue past the TA and possibly turn the trend bullish again. However, if prices fail to overcome the TA, then lows will be tested again in the near future. I sold half my long position for a nice profit and I am going to hold on to the rest until I see a possible top or get stopped out at break even. 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, August 21, 2017

Elliott Wave Stock Market Update - August 21






















The market reached another low as expected and this satisfies the completion of the bearish 5 count that started at 2474. I see a bottoming pattern in place with 2417 as support, so as long as prices do not go below this level, there is a good chance for a counter-rally to test the Trend Average. Whether or not the correction continues after the TA test is another question. I went long at 2423 with a stop at support so I hope market sentiment will turn around 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

Friday, August 18, 2017

Elliott Wave Stock Market Update - August 18






















Selling continued today and prices made a lower low at 2420 before the Bannon-getting-fired rally, which subssided by the close. The bearish wave could arguably be done with today's low but I am assuming the high today was a W4 with one more leg towards a lower low. Ideally, another leg towards 2407 would set up a counter-rally towards the TA but something down to 2415 would be enough to call the 5 count done. I am planning to go long with a tight stop if prices reach support. Now that Trump is seeking a reset (not sure what else to call it given his main advisors have left), maybe that will be the excuse for a bounce next week. I just really hope he gets tax reform done.

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, August 17, 2017

Elliott Wave Stock Market Update - August 17






















Prices failed to hold at support and sold off to break the low made last week as expected. The least bearish scenario would be a zig zag from the top to test 2407 and then rally again to new highs. But if 2407 fails to hold the selling, then this will be headed towards a 200 DMA test, currently at 2345. I sold my gold position today and looking to go long in equities when prices reach support or show a bottoming pattern. As I said yesterday, the market has plenty of excuses with all the Trump drama. But in the end, this correction was expected and Trump is just an excuse. What will be interesting is what will send the market into a real correction (the one that will send prices to the 1575-1800 area). I have always assumed a recession is what will ultimately bring down the market but there is now a chance that it will be a big Trump related event.

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, August 16, 2017

Elliott Wave Stock Market Update - August 16






















Prices reached a higher high today but stopped right at the 2474 resistance level. The pattern in place could go both ways since clearing resistance would lead to a breakout to new ATH, while a break of support at 2461 should lead to a test of last week's low at 2437 or lower. Given the negative bias, I assume prices will head lower as long as the high today does not get taken out. There is no shortage of excuses to sell given the latest Trump political reality show.

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, August 15, 2017

Elliott Wave Stock Market Update - August 15






















Prices consolidated sideways today and looks like it will go higher if the 2461 low holds. Once this wave is done, we should see the bears come back and try to take out the low made last week. Maybe Trump or Kim Jun will help their cause. I just hope things don't get out of hand as these two seem to be very volatile, which should be a cause for real concern for everybody.

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, August 14, 2017

Elliott Wave Stock Market Update - August 14






















The market rallied substantially today towards the Trend Average and this invalidated the bearish 5 count I had originally posted. That doesn't mean 2407 is out of the question, as the market could be just bouncing on a B or bearish W2 wave. Also, the TA continues to be bearish and further selling could come as soon as tomorrow or Wednesday. With that said, if bulls manage to start closing above the TA, then we could be in for another sideways 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

Friday, August 11, 2017

Elliott Wave Stock Market Update - August 11






















The market ended the day basically flat after trying to counter-rally earlier in the morning. This goes well with the posted count and another bearish wave to test the 2407 level would be ideal to finalize the count. Just a little bit more talk from Trump or Kim Jun Un and the market will have enough of an excuse. Technically speaking, there are plenty of excuses to sell since these two are not stopping anytime soon. Seems like Kim Jun Un has met his match! I will be going long equities next week if I see a set up and possibly sell gold to lock in gains as prices are pushing $1300.

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, August 10, 2017

Elliott Wave Stock Market Update - August 10






















The market continued to sell off today and now that support has broken, this sell-off could turn into the biggest correction this year. There is some support at 2439 but I think there is enough bearish momentum for prices to test the 2407 level before any significant bounce. In fact, I wouldn't mind going long as close as possible to at 2407 and set a short stop to play the counter-rally. My gold position is doing well and it looks like gold prices are headed towards 1300 sooner than I thought, so I am planning to get the most out of it.

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, August 9, 2017

Elliott Wave Stock Market Update - August 9






















The market has counter-rallied today but it still ended up closing below the Trend Average, which has now turned bearish. However, until I see 2459 low cleared, I wouldn't assume a real correction is taking place. I think it will take actual military action against North Korea to really send the markets into a sell-off, so for now, the whole North Korea event is just being used as an excuse to lock in profit. I will keep the gold I just bought until the trend reverses or hits 1300, whichever comes first.

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, August 8, 2017

Elliott Wave Stock Market Update - August 8






















The market broke out of the triangle to make new ATH as expected and managed to top and invalidate the most bullish set up towards the end of the session. While the trend continues to be bullish, the close was under the TA and a breach of support levels created by the triangle will confirm a bigger correction. I ended up buying back the gold I sold last week in case selling in equities gains traction.

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

Monday, August 7, 2017

Elliott Wave Stock Market Update - August 7






















The market seems to have started to break out of its triangle pattern and we should get confirmation in the next session or two with follow through buying and higher highs. There is a high possibility of new ATH this week and only a move below 2473 would invalidate the pattern. I didn't get a chance to go long today because I was busy moving stuff but if the market opens down and above support, I will go long and use support as a 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

Friday, August 4, 2017

Elliott Wave Stock Market Update - August 4






















The market has continued to trade sideways and a triangle pattern is now the most likely option. I expect a break out of the pattern next week but sometimes it can extend, so my assumption is new highs in the near future. I can't believe is August and the market has not given back any gains at all, not to mention that volatily is at a multi-decade low. Anyone who remembers the previous bull market peaks should see the obvious similarities at this point.

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 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

Thursday, August 3, 2017

Elliott Wave Stock Market Update - August 3




















The market didn't do much today other than close below the Trend Average, in itself, a bearish signal. However, given what I mentioned yesterday. as long as support continues to hold then there is a good chance the market will break to the upside. I was tempted to go long later in the day today but with the week coming to a close and the uncertainty about Trump (Russia investigation, China trade, etc), I figured is best to sit this one out.

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, August 2, 2017

Elliott Wave Stock Market Update - August 2






















The marker gapped up early morning and attempted to sell off, only to find support at 2466 before rallying back to a positive close. While the bearish set up for a bigger correction remains, the fact that support has held so well sends a signal of a sideways correction. And unless lower lows are not made soon, there will be enough of a time correction to allow prices to reach the 2500 level. Given this possibility, I closed my short position at a minor loss at the TA and locked in all my gold gains. I'll give gold and shorts another in the near future, in the meantime,  I might have to join the bullish crowd temporarely.

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

Tuesday, August 1, 2017

Elliott Wave Stock Market Update - August 1






















Prices challenged resistance again today but ended up closing below it. Despite the close above the TA, the same bearish pattern remains and the market remains vulnerable to selling in the next few sessions. The only way to invalidate the bearish set up would be a breach of 2484. I am keeping my short position until the market proves me wrong (or right, to lock in profits).

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