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

Friday, March 17, 2017

Elliott Wave Stock Market Update - March 17






















The market closed slightly down for today but the expectation for higher highs remain. There is a chance for a bullish nested set up but it's too early to tell at this point. I hope the market will behave like other years and put a high in May before going into a big correction in the summer.

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 16, 2017

Elliott Wave Stock Market Update - March 16






















The market made a higher high in pre-market before going into correction mode for most of today's session. Still, prices are above the W1 high of 2376 and the TA has turned bullish, so I assume there will be a bullish wave coming to challenge all time highs as soon as tomorrow. I am maintaining my stop at 2376 just in case this turns out to be an ABC or a nested set up.

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 15, 2017

Elliott Wave Stock Market Update - March 15




















The market rallied as I had been expecting but now we have to see if this will be a new 5 wave impulse or an ABC move from 2354. I am leaning towards a 5 wave impulse as I think there is room to rally until about May but I am also raising my stop to 2376 on my longs just in case. Maybe the market can get to 2500 and then make a major top?

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 14, 2017

Elliott Wave Stock Market Update - March 14






















Prices tested the upper range of support at 2258 before staging a mild counter-rally for the rest of the day. Still, the pattern still can be an ABC move or the beginning of a 5 wave impulse, whatever it is, we should find in the next session or two. I am sure whatever the Feds do tomorrow will be used as an excuse for the next move.

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 13, 2017

Elliott Wave Stock Market Update - March 13






















The market didn't do much today and the potential patterns mentioned on Friday still apply. I am hoping there will be a breakout to new highs so prices can line up for a "Sell in May" event this year. I am still holding with the same stops as last week.

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

Friday, March 10, 2017

Elliott Wave Stock Market Update - March 10






















The market continued its counter-rally today and looking at the pattern, we are seeing an ABC move or the beginning of a 5 wave impulse. My guess is a rally that gets stopped at resistance at the 2383 level will most likely be an ABC move and lead to a continued correction. But if we see a strong move past resistance, then we will have a W3 and a projected target of 2405 or a new all-time high. The economy is doing well and this could go on for a while more, maybe 1 or 2 years? The Feds need to raise rates aggressively in the next few months and once they start cutting, that will be our clue that the recession is on the horizon.

On a sidenote, I am almost at my retirement goal I set for myself years ago. I got here thanks to my business and some investments unrelated to stocks, so in a month or two I could retire and do nothing for the rest of my life (not that I would do that since I enjoy being productive). It took me about 22 years(when I first formulated my retirement plan) to get to this point and anything going forward will be just icing on the cake. I am keeping my positions in China intact and after almost two years of correcting, I think the recent "bubble" high will be challenged later this year or next. Whatever happens is extra but I hope it doubles in the near future, I've waited long enough.

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 9, 2017

Elliott Wave Stock Market Update - March 9




















Prices tested support as I had been expecting since last week and there was a counter-rally attempt towards the end of the day. Obviously, it's too early early to tell if a bottom is finally in but I see a potential bottom at 2354.54 if another bearish wave fails to make a lower low. I closed my shorts from last week for a few cents of profit and I went long at 2161 with a stop at today's low.

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 8, 2017

Elliott Wave Stock Market Update - March 8






















The Trend Average has turned bearish for the first time this year after prices continued to struggle in today's session. The low is technically testing the 2358 level I have been mentioning and if support keeps holding, then we will see bulls regain control again fairly soon. However, if support is lost, then we should see a test of the rising 50 DMA currently at 2306. I continue to hold my position but ready to close if support won't break.

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 7, 2017

Elliott Wave Stock Market Update - March 7






















The market has continued its correction and it looks like a test of the 2358 level mentioned last Friday is a possibility tomorrow. The Trend Average is about to turn bearish for the first time in months but we have to see what happens tomorrow before calling for lower prices. I continue to hold my short position from last week but will close it at 2358 if support holds.

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, March 6, 2017

Elliott Wave Stock Market Update - March 6






















The market has continued to correct and a lower low was made at 2367 early morning. We should see a counter-rally soon but more downside to bring back some pessimism would actually be more bullish for the market. I am still holding short but might trade the position if it gets past 2383.

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

Friday, March 3, 2017

Elliott Wave Stock Market Update - March 3






















The market continued its correction today and the pattern could turn into a zig zag or a 5 wave move down. I still favor a test of support at 2358, if the market is able to stay above that key level then new highs are likely. A break of support will turn the Trend Average bearish and start a multi-week correction. I am holding my position over the weekend and will only consider trading if 2388 gets breached.

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 2, 2017

Elliott Wave Stock Market Update - March 2






















The market finally went down more than a few points in today's session. The loss today was the largest this year and it was only 14 points! While it's too early to call for a substantial correction just yet, I am assuming there is a good chance support at 2358 will be tested if the market fails to bounce tomorrow. After a non-stop bullish run for almost 4 months, the market is due for a real pullback.

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 1, 2017

Elliott Wave Stock Market Update - March 1






















The market really liked Trump's speech last night and reached the 2400 level today. This is the strongest rally we have seen since 2013 and it makes 2500 look like an easy target at this point. At the same time, this 2400 level has been the target for the entire rally that started in 2009. The exact target is actually 2423, so don't be surprised if the market experiences a strong reversal after the euphoria fades. Stock market cap to GDP is running around 130%, which implies a an extremely overbought condition that eventually gets corrected by a strong bear market. Maybe sell in May this year will be stronger than usual?

I ended up holding my short position I bought couple of days ago and looking to again trade the position on the correction unless I see a definite trend reversal move. At least I am just buying regular 1 to 1 shorts and not leveraged or VXX, this rally has the potential to wipe out the riskier short positions.

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