Thursday, October 18, 2018

Elliott Wave Stock Market Update - October 18






















Prices closed substantially down as anticipated but it is still way off the lows made last week. If we see prices rally back above 2816 then 2710 will likely be a an important bottom. However, if selling continues in the next few sessions then we should see 2710 challenged and broken to finish up the 5-count posted.

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, October 17, 2018

Elliott Wave Stock Market Update - October 17






















The market closed flat today after a volatile day. Still, the count posted remains in place and I assume selling will start in the next session or two. If last week's low is not tested then I will change the count to reflect the next best option.

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, October 16, 2018

Elliott Wave Stock Market Update - October 16






















I was expecting the market to head down today but I was wrong as prices rallied much higher. Technically, the bearish count is still viable but it would also mean the 5-count was completed at last week's low. Either way, prices remain under the TA and until that changes,  rallies should be considered corrections of a bearish trend proven otherwise.

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, October 15, 2018

Elliott Wave Stock Market Update - October 15






















Prices closed down today but I think the bulk of the selling will come tomorrow or Wednesday. Based on the count, I assume last week's low will be breached to finalize the 5-count posted. The big question is whether this recent move is part of yet another correction of the beginning of the end of the bull market.

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, October 12, 2018

Elliott Wave Stock Market Update - October 12






















Prices counter-rallied today after very strong selling in the last couple of sessions. The count calls for another lower low or at least a test of the 2710 low made yesterday so we will see next week if there will be a tradable bottom in place. I have seen a long term count that calls for one last very bullish leg to new ATH but the market could well go into a bear market now given the fact that prices have more than quadrupled from its 2009 low of 666 without a bear market. Fundamentally speaking, the economy is great right now but trade tariffs, higher interest rates and someone using twitter uncontrollably could bring everything down.

Have a great weekend!

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, October 11, 2018

Elliott Wave Stock Market Update - October 11






















The market continued its sell-off today as expected but the W3 could have ended at 2710. So we could see a bounce in the short-term and then another lower low to finish the count. The selling has been intense and at this pace the market could turn negative for the year. The next significant support level is at 2676 and 2594.

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, October 10, 2018

Elliott Wave Stock Market Update - October 10






















I had been posting the bearish 1-2 count since late September and was almost invalidated last week but if there was any doubt about it, today's action confirms this count. I mentioned a possible test of the 200 DMA yesterday and today's close is just barely 20 point above it (2765) so we could see that test as soon as this week. I thought it was going to take more time for this test but selling today was strong and the strongest since March.

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, October 9, 2018

Elliott Wave Stock Market Update - October 9






















Prices fell slightly again today but one could argue for a bottoming pattern if lows are respected in the next day or two. However, if selling continues and support breaks then we could see prices go much lower, possibly even testing the 200 DMA in the next few weeks.

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, October 8, 2018

Elliott Wave Stock Market Update - October 8






















Prices made a lower low today before bouncing back to close the day basically unchanged. The close was barely above the 50 DMA and if the market starts closing below this level then we should see selling accelerate.

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

Saturday, October 6, 2018

Elliott Wave Stock Market Update - October 5






















The market broke key support at 2886 and ended testing the 50 DMA before bouncing somewhat towards the end of the session. This breach of support and close below the TA turns the trend bearish and now opens the doors for a bigger correction. One could argue for the end of an intermediate 5th wave at 2940 and if that count is correct then we will see a correction for several weeks.

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, October 2, 2018

Elliott Wave Stock Market Update - October 2






















Not much to add today. The trend continues to support more upside but the pattern looks bearish and we should find out if substantial selling is coming in the next day or two.

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, October 1, 2018

Elliott Wave Stock Market Update - October 1






















The market had a strong opening today after news of a new trade pact with Canada had been reached but a bulk of the gains were given up at the end of the day. The trend continues to support more upside but the pattern looks bearish and we should find out if substantial selling is coming in the next day or two.

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, September 27, 2018

Elliott Wave Stock Market Update - September 27






















Prices bounced today from yesterday's bearish close but a lower high was made and the pattern could evolve into a sell-off in the next session or two. If prices are able to rise above 2931 then the bearish pattern will be challenged.

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, September 26, 2018

Elliott Wave Stock Market Update - September 26






















The market lost substantial ground in the last few minutes of trade after Feds decided to raise interest rates by a .25 points. The TA is still technically bullish but the low invalidates the count I had been positing and now favors a change of trend as soon as tomorrow if the bearish wave from today is a bearish W3. The rise in interest rates should not have come as a surprise but this could be the excuse for a bigger correction in the near term.

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, September 25, 2018

Elliott Wave Stock Market Update - September 25






















The market continued its correction today and remain in position to make another push higher soon as long as 2908 doesn't get breached in a continued correction. I was looking at a possible Elliott Wave count that calls for a very bullish period in the next few weeks before we actually firm top. I have been accumulating cash and not deploying any of it lately but might risk some for a few weeks/months. I don't mind missing a rally but I definitely don't want to miss the bear market.

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, September 24, 2018

Elliott Wave Stock Market Update - September 24






















The market corrected today in what seems like a W4, which suggest a higher high coming in the next day or two. I don't see any good news that could be used as an excuse to rally but the market has a mind of its own so we'll see.

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, September 21, 2018

Elliott Wave Stock Market Update - September 21





















The market made another all-time high today before pulling back in what should be a W4 wave. Higher highs should be expected next week before any substantial correction and if the market gets any good news then we could even see a run towards the 3000 level. Looking at how China has been rallying from recent lows, maybe there could be some sort of news regarding a trade compromise that could be used to push up the markets.

Have a great weekend!

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish


* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

Thursday, September 20, 2018

Elliott Wave Stock Market Update - September 20






















The market rallied towards a new all-time high as expected and the possibility of 3000 looks probable. It seems not long ago the index had crossed 2000, a level that was unthinkable back when the bull market started but 3000 probably exceeds even the most optimistic of all predictions made earlier in the decade. I wonder if we will ever see the markets quadruple in 8 years ever again in our lifetimes.

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, September 18, 2018

Elliott Wave Stock Market Update - September 18






















Prices rallied today and came within a few points of all-time highs. Apparently, the markets don't feel the trade war with China is "as bad" so I guess that's enough for bulls to keep charging. This mindset will probably drive prices up past the 3000 mark in the not-too-distant future. However, once reality sets in then it will be interesting to see how the markets will react.

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, September 17, 2018

Elliott Wave Stock Market Update - September 17






















Prices pulled back to text the TA today after word of more tariffs coming to Chinese exports. The move looks like a correction so I continue to expect a challenge to ATH in the near term. If there is any concession by China it will be a reason to rally but I don't really see them changing positions anytime soon. China thinks of terms of decades, multiple decades in fact. Trump's time horizon is a few years at most and I don't think China will be making any meaningful sacrifices for a market that is 19% of their total exports which could potentially affect the other 81% of their exports. Additionally, China's economy is now primarily dependent on services so they are now longer reliant on exports as in the past. If Trump had created a coalition with other countries then they would have had a shot at changing Chinese industrial policy. So there will be a lot of noise on the issue but nothing will be done and in the end the US consumer pays more until manufacturing relocates to Vietnam or Thailand (they won't be relocating here anytime soon despite Trump's promises).

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, September 13, 2018

Elliott Wave Stock Market Update - September 13






















Prices were able to close above 2900 today and challenge the downtrending TA but the bearish response remains to be seen. If we see a sell off that breaks last wee's low at 2864 then we will see substantially lower lows. But if we get just a correction that respects support levels then we should see the rally continue and eventually all-time highs.

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, September 11, 2018

Elliott Wave Stock Market Update - September 11






















The market opened down today but managed to stay above last week's low. Still, the rally looks corrective and the close was below the TA so we might see another bearish leg down in the next session or two. If bulls manage to make a higher high then it might reverse the bearish set up but it doesn't look likely at this point.

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, September 10, 2018

Elliott Wave Stock Market Update - September 10





















Prices finally bounced today somewhat and the bottoming pattern I mentioned on Friday's update remains in place. A strong rally tomorrow would confirm the bottom for the corrective wave but if the market fails to make substantially higher highs then the recent low will likely be tested and likely broken by the end of the week.


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, September 7, 2018

Elliott Wave Stock Market Update - September 7






















Prices closed down again for the 4th consecutive time this week turning the Trend Average bearish. The choppy nature of the correction favors consolidation and not a bearish impulse. Also, one could argue for a bottom pattern with 2864 as the bottom of the correction but given where the TA is pointing, I will have to assume lower prices are coming until proven otherwise. Maybe Trump will say something crazy this weekend that can be used by bears or maybe he will behave like a normal person and cause people to panic! lol.

Have a great weekend!

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, September 6, 2018

Elliott Wave Stock Market Update - September 6






















Prices made a lower low today and closed slightly below the Trend Average again. Unless there is a strong rally tomorrow, there is a good chance for a change of trend and a bigger correction in the next week or two.

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, September 5, 2018

Elliott Wave Stock Market Update - September 5






















Prices fell slightly again and the close was below the Trend Average. I assume bulls will come to the market tomorrow to push prices up but if the market closes below the TA again there there is a good chance of a change of trend in the next day or two.

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, September 4, 2018

Elliott Wave Stock Market Update - September 4






















The market ended the day slightly negative and the pattern invalidates the most bullish scenario which was the count that was posted last week. Still, once the current correction is over we should see another wave towards new all-time highs as soon as this week.

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, August 30, 2018

Elliott Wave Stock Market Update - August 30






















Prices pulled back under 2900 today in what seems like a consolidation move. If prices are able to respect support at 2893.50 then we should see prices rally again to challenge or make new all-time highs. Given the potential Canada deal in the background, we could see substantial upside ahead.

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 29, 2018

Elliott Wave Stock Market Update - August 29






















Prices have continued to rise to new highs as expected and it seems the market is nowhere near done yet. With Canada trying to get a deal done before Friday, we could see a positive outcome on those negotiation as a reason for a bigger rally. This market is unstoppable for now.

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