Monday, June 18, 2018

Elliott Wave Stock Market Update - June 18






















The market made a lower low today and the close was below the Trend Average for the first time since late May. So it seems the top is likely in for a while if we start to see stronger selling in the days ahead. Considering Trump is playing hardball with China and seemingly everyone else (he forgets there is a WTO in place for trade disputes), this all points to a bad news in the not too distant future and the market is going to reflect that. Trade wars are not "easy to win" and once we go into a recession Mr stable genius will blame Obama or Hillary.

Short Term Trend = Bullish 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

Friday, June 15, 2018

Elliott Wave Stock Market Update - June 15






















The market opened down today after Trump announced tariffs on Chinese products. Normally, this would have caused a much bigger correction but the market managed to test the TA and close right above it. I still think there is enough strength for the market to go above 2800 but in light of the coming trade war with just about everybody, I don't know how the market is going to overcome the fundamental shift that a trade war implies. It is not only about the fact that trade will be down but that American multi-nationals will be making less money due to barriers being created in retaliation, thus less profits. But the Donald knows everything, so just let him shoot himself in the foot and guarantee an economic recession before 2020. After all, we do need a bear market correction.

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, June 14, 2018

Elliott Wave Stock Market Update - June 14






















The market has continued its sideways correction and it is looking like it wants to challenge resistance again before a deeper pullback. Considering the Nasdaq and the Russell have been making new all-time highs, we should see a break out in the next few sessions as long as the TA remains 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


Wednesday, June 13, 2018

Elliott Wave Stock Market Update - June 13






















The market made a marginally higher high but could not get past the resistance band. The count is technically finished so we could now see a stronger correction unless bulls can pull one out of the hat tomorrow. Whatever the case, the TA is bullish and a successful test would point to higher highs coming.

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, June 12, 2018

Elliott Wave Stock Market Update - June 12






















Prices did not break out after yesterday's seemingly succesful Trump-Kim summit and instead prices went into a sideways correction. However, we could see a rally attempt tomorrow or Thursday at the latest to break resistance. If bulls fail at it, we could see a substantial correction but for now my assumption is that resistance won't stop the rally.

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, June 11, 2018

Elliott Wave Stock Market Update - June 11






















The market made a push towards the 2790-2800 resistance level as expected and a positive meeting between Trump and Kim might be the excuse to break this level tomorrow. And as I said last week, a break of 2801 will open the doors to new ATH for the market and possibly a rally towards the 3K level.

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, June 8, 2018

Elliott Wave Stock Market Update - June 8






















The market closed the week on a strong note and we could see prices challenge resistance early next week. Iif prices are able to get past 2801, the natural target will be the ATH at 2872. Also, looking at weekly charts, I see a W4 type of correction nearing completion which suggests another bullish period for the next few months for a rally towards 3000. So this bull market seems to have some more time to run before a real bear market.

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, June 7, 2018

Elliott Wave Stock Market Update - June 7






















The market went into a mild correction today and seems to be consolidating before getting ready to challenge the next level of resistance at 2790-2800. Given the new all-time highs in the RUT and NASDAQ indexes, I think bulls might pull one out of the hat and reach a new ATH in the summer. We'll find out soon.

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, June 6, 2018

Elliott Wave Stock Market Update - June 6




















Prices continued to rise as expected and we could see the 2790-2800 resistance area tested soon. Resistance at 2801 is technically the bears last stand as a breach of this level would open up the doors to a continued rally towards all-time highs. A few months ago, the death cross seemed highly likely during summer but with this recent upsurge, bulls have again defied expectations.

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, June 5, 2018

Elliott Wave Stock Market Update - June 5






















The market made a higher high today early in the morning before giving up some of its gains. However, the wave doesn't look done yet so we should see higher prices again in the next session or two. The Nasdaq and Russell indexes have made new all-time highs, invalidating the intermediate their bearish patterns so we might see the SP500 do the same in the next few weeks.

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, June 4, 2018

Elliott Wave Stock Market Update - June 4



















Prices have continue to rise as expected and we should see the breakout continue in the next few sessions. It's hard to tell prices will manage to go after new ATH but we should see the 2800 level challenged this month if the pattern plays out.

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

Saturday, June 2, 2018

Elliott Wave Stock Market Update - June 1






















The market gapped up in the morning after the strong jobs reports and now we have an IHS pattern targeting 2790. So unless there is some bearish miracle over the weekend, we should see a break out next week to higher highs. Maybe the resumption of the meeting with N Korea will be the excuse?

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