Thursday, May 24, 2018

Elliott Wave Stock Market Update - May 24






















Prices had a bearish start for the day after Trump announced he would be cancelling the much anticipated meeting with N Korea but the market regained most of the losses by the end of the day. The close is again above the TA and all this sideways trading could be interpreted as a correction. So unless support is broken for good, we will see another rally coming in the next few sessions.

Short Term Trend = Bullish
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, May 23, 2018

Elliott Wave Stock Market Update - May 23






















The market had a bearish start today but was able to erase losses and end the day in black. If the market continues the count posted, we should see further downside or sideways trading before another bullish wave to higher highs.

Short Term Trend = Bullish
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, May 22, 2018

Elliott Wave Stock Market Update - May 22






















The market made a higher high to technically finalize the count posted. Whether or not there is more upside remains to be seen but if we see a Trend Average test then probably we will see more of a corrective period before another substantial rally. The worst season for stocks is coming up so it will be interesting to see the market holding up during this time.

Short Term Trend = Bullish
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, May 21, 2018

Elliott Wave Stock Market Update - May 21






















Prices climbed higher today but still feel short of making a higher to complete the 5th wave on the chart. There is a chance of a failed 5th if we don't see a higher highs tomorrow. I can't image the market going sideways again without breaking our or breaking down.

Short Term Trend = Bullish
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

Friday, May 18, 2018

Elliott Wave Stock Market Update - May 18






















The market ended slightly down but the count continues to be in play. It seems like the market is waiting for the outcome of the US-China trade talks. Trump was downplaying expectations yesterday but then he was "hopeful" so who knows what that will come down to. The only predictable thing about Trump is his unpredictability. I am staying long over the weekend so we'll see.

Have a great weekend!

Short Term Trend = Bullish
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

Thursday, May 17, 2018

Elliott Wave Stock Market Update - May 17






















Not much to add today as the market basically traded sideways and closed flat. Still waiting for the 5th wave to materialize.

Short Term Trend = Bullish
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, May 16, 2018

Elliott Wave Stock Market Update - May 16






















The market started to bounce today and we should see a higher high if the count posted is correct. If the market goes into a correction and doesn't go below 2704 then we should see a strong bullish wave in the next day or two. If 2704 breaks then 2683 would be the line in the sand for the 5 count to remain in play.

Short Term Trend = Bullish
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, May 15, 2018

Elliott Wave Stock Market Update - May 15






















I was expecting the market to go up today but it did not happen. Still, the count remains viable  and we should see another leg to a higher high. However, I am not sure how the market will receive the new that North Korea might cancel on Trump. No big deal economically speaking but not exactly good for sentiment.

Short Term Trend = Bullish
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, May 14, 2018

Elliott Wave Stock Market Update - May 14






















The market seems to be following the count posted and we should a higher high to complete the 5th wave before a pullback. I ended buying some shares that I will probably sell tomorrow or Wed so hopefully we'll see the market rally to resistance. Maybe the summit with Kim J and working out trade deals with China will fuel the market for now.

Short Term Trend = Bullish
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

Friday, May 11, 2018

Elliott Wave Stock Market Update - May 11






















Prices have continue to rise as expected and it looks like there is a 5 count in play. If it is indeed a new impulse, prices could easily reach 2800 in the next few weeks. It's unusual for the markets to rally in the summer but given the possible consolidation in the last few months this is now a real possibility.

Have a great weekend!

Short Term Trend = Bullish
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

Thursday, May 10, 2018

Elliott Wave Stock Market Update - May 10




















The market challenged and cleared the 2717 level I mentioned yesterday and with this move the market invalidates the most recent bearish pattern that had been in place. This doesn't mean it is all clear just yet as bulls have to overcome 2801 to be firmly back in control. For now, I assume prices will continue to rise until resistance is met in the 2780-2800 area.

Short Term Trend = Bullish
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, May 9, 2018

Elliott Wave Stock Market Update - May 9






















The market broke out of resistance today and we should see the next resistance level at 2717 challenged. If that level is cleared then we could see a rally towards the 2800 level in the next week or two. Also, the close is above the 50 DMA and consistent trade above this trend prevents a death cross and resets all signals to bullish.

Short Term Trend = Bullish
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, May 8, 2018

Elliott Wave Stock Market Update - May 8






















Prices pulled back slightly today and we could see a breakout attempt tomorrow if resistance at the neckline breaks. I would find it surprising the market is chooses to breakout after earnings and during this time of year but it is what it is. No point in fighting the trend.

Short Term Trend = Bullish
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, May 7, 2018

Elliott Wave Stock Market Update - May 7






















The market managed to climb higher today and invalidate the previous bearish pattern that was in place, so now we are back to square one. The TA has also turned bullish and we could see an attempt to challenge 2717 in the next week or two. Looking at the current pattern, there is a potential for an IHS to develop if we see a pullback that stops around 2612 support. I still would like to see the market do a death cross soon but the market will be done when its done.

Short Term Trend = Bullish
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

Friday, May 4, 2018

Elliott Wave Stock Market Update - May 4






















The market had a strong day today and closed the day substantially above the Trend Average. Still, the index remains vulnerable to substantial selling unless prices are able to get past 2682.92. I didn't commit to any positions today but will go short with a stop a resistance on Monday unless the bearish downtrend is invalidated. Also, I posted a longer term chart to point out a possible incomplete count. Looking at it, one can see it is the missing 5th wave which would fit perfectly and make it a textbook 5 count. Prices have been triangulating most of this year and essentially resetting the weekly oscillator, so the base for a rally will be there. Fortunately, we have the Trend Average indicator that will keep us on the right side of the trade, so whether this count materializes or fails won't matter as much.

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

Thursday, May 3, 2018

Elliott Wave Stock Market Update - May 3






















Prices breached the 2612 pivot I was looking at earlier today before bouncing most of the day. However, selling is now likely since the potential bullish pattern in place was invalidated. I was looking to short today but unfortunately the market is closed and can't place the order. If prices are still elevated tomorrow, I will go short with the stop at resistance.

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, May 2, 2018

Elliott Wave Stock Market Update - May 2






















The market made a marginally higher high today but experienced selling pressure in the last few hours and now looks ready to sell off in the next session or two. The key level bears must break is 2612, if that  level goes then we should see the start of a bearish summer. I don't think the market cares about how great earnings are so it's a good time to keep accumulating cash.

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, May 1, 2018

Elliott Wave Stock Market Update - May 1






















The market made a lower today but managed to bounce back and close the day in positive territory. If the bounce stalls before before the neckline mentioned yesterday then there will be a good chance a strong bearish will come to test if not break the 2612 low this or next week.

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 30, 2018

Elliott Wave Stock Market Update - April 30




















A micro 5th wave did materialize and a higher high was put in at resistance (2683) as expected but gains were reversed by the end of the session. It's important to note that a neckline has formed at 2683 and any correction low higher than 2612.67 could result in a reversal pattern and a rally to challenge the 2717 high. So bears must break support at 2612.67 for the downtrend to continue in the next few weeks.

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

Friday, April 27, 2018

Elliott Wave Stock Market Update - April 27






















Prices traded sideways today in what seems like a micro W4 so we might see a higher high early next week. The close technically puts the TA in neutral but given the pattern, I will continue to assume selling will resume next week. However, if the TA is recaptured next week then it will signal the recent high at 2717 will be challenged soon. Whatever the case, May is almost here and earnings will be done by then so there will be a few months where the market will be vulnerable to selling pressure.

Short Term Trend = Bearish trend being challenged
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


Thursday, April 26, 2018

Elliott Wave Stock Market Update - April 26






















Today's follow up rally invalidated the count I posted yesterday so we are back to square one. The rally is still considered a counter-rally despite the close being barely above the TA but if we see continued strength then the market could try to change its current downtrend. I continue to assume prices will make a lower low below the 200 DMA sooner than later.

Short Term Trend = Bearish trend being challenged
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 25, 2018

Elliott Wave Stock Market Update - April 25






















The market tested its 200 DMA with today's 2612 low in the morning. The market then managed to erase losses and close the session slightly positive. If the count posted is correct, we should see lower lows by the end of this week and see the 200 DMA broken for the first time since 2016. If selling accelerates under 2600 then probably the top for this year is already in and there will be a lot more downside to come.

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 24, 2018

Elliott Wave Stock Market Update - April 24






















The market went into a selloff after opening higher in the morning. The low today came close to the "target" I had mentioned yesterday but I don't think the market is anywhere near done. If we see selling acceleration in the next few sessions I will label the current wave a bearish W3 as that is what I am suspecting at the moment. A strong bearish wave will end way below the 200 DMA and create a death cross sometime in May. I am hoping this will be the beginning of a bear market that will send prices below 2000 but it's still too early to tell.

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 23, 2018

Elliott Wave Stock Market Update - April 23






















The market ended the day flat and again under the TA which turns bearish with today's close. The TA signal has been very accurate in the past few trend changes so we'll see if the streak continues.  The obvious bearish target at this point is the 200 DMA at 2607 and we could see that level tested if sellers step up this week. Seasonally speaking, bulls don't have that much time left to stage a strong rally since May is coming soon and normally summer months are bearish.

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

Friday, April 20, 2018

Elliott Wave Stock Market Update - April 20






















The market did not go up as expected and instead closed the day with signs of a possible reversal. The close below the TA and the 50 DMA is not a good sign for the current uptrend and if these 2 levels are not recaptured next week then we might end up seeing a death cross fairly soon. Technically speaking, the market could just be digesting recent gains but I think it's better to be cautious given the potential bearish rollover. I ended stopping out at a loss but will trade again if I see another another low risk set up.

Have a great weekend!

Short Term Trend = Bullish
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

Thursday, April 19, 2018

Elliott Wave Stock Market Update - April 19






















I thought the market was going to go a bit higher before coming down to test the 50 DMA but it happened sooner than I expected and we should find out soon if the rally really has legs. If we see a strong impulsive move this week then we are are looking at a nested bullish 1-2. If we see just a higher high then the market will need a bit more time before it stages a substantial rally. I ended going long at the 50 DMA as I had been planning.

Short Term Trend = Bullish
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 18, 2018

Elliott Wave Stock Market Update - April 18






















Prices made a higher high today and it looks like it might push even higher before a test of the TA or the 50 DMA. If the market is able to focus on earnings and overlook recent negative news then we should see prices climb substantially higher before a the return of the bears.

Short Term Trend = Bullish
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 17, 2018

Elliott Wave Stock Market Update - April 17






















Prices were able to close comfortably over the 50 DMA and this solidifies the current uptrend. Also, this breakout puts in play the bullish target for the bottoming pattern I first mentioned couple of weeks ago. The target is 2795 and is conveniently right at the 2800 resistance level so assuming a coming correction to test the 50 DMA at 2685 is successful, we should see prices push higher. This bullish move doesn't necessarily mean a bigger correction is not in the works but it does point a bullish bias in the near future. I will be going long in a test of the 50 DMA, hopefully in the next session or two.

Short Term Trend = Bullish
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