Tuesday, August 14, 2018

Elliott Wave Stock Market Update - August 14






















The market staged a counter-rally to test the TA but remains vulnerable to more selling in the next few sessions. I get the feeling 2796 is going to be tested in the next few sessions but we'll see.

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 13, 2018

Elliott Wave Stock Market Update - August 13






















Prices have continued to decline and now the Trend Average has turned bearish. Not sure if we will see another whipsaw but as long as prices maintain trade over 2796, there is a possibility of a rally coming. However, if prices fall below the 2796 support level then the market will see a potential much bigger decline ahead.

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 10, 2018

Elliott Wave Stock Market Update - August 10






















The market failed to complete the 5 count and instead truncated and sold off today. The close is barely under the TA so there is still a chance of a strong comeback to challenge ATH. But of the TA is lost, then we will see another substantial pullback in the next week or two.

Have a great weekend!

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 9, 2018

Elliott Wave Stock Market Update - August 9




















The market closed slightly down today but remains in what seems like a W4 pattern so I expect a push higher to challenge all-time highs if the low made yesterday continues to be respected.

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 8, 2018

Elliott Wave Stock Market Update - August 8






















The market has come very close to making new all-time highs and I think there is a good possibility of a new high before the week ends given the count. A new ATH would mean prices are probably going substantially higher before the correction many have been waiting for materializes.

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, August 6, 2018

Elliott Wave Stock Market Update - August 6






















Prices have made a higher high as anticipated and the next target is a new all-time high. I would have never predicted a new high in the middle of this summer earlier this year but here we are. This is why is so important to go with the trend. It will take a bearish miracle to stop the market from making highs.

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 3, 2018

Elliott Wave Stock Market Update - August 3






















Prices have continued to rally to higher highs and the Trend Average has been whipsawed, which hasn't happened in over a year. So I assume prices will be challenging the recent high at 2848 sometime next week and the ATH in the next few weeks.

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, August 2, 2018

Elliott Wave Stock Market Update - August 2






















I was expecting the market to continue selling today but I was wrong. Prices bounced to a higher high and could possibly whipsaw the TA. But since we are sticking to a system, we'll assume there is downside coming until the there is an official change in trend which could happen tomorrow if selling momentum continues.

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 1, 2018

Elliott Wave Stock Market Update - August 1




















The market closed slightly down today but it is enough to turn the TA bearish so we should see recent lows tested in the next session or two. The market could use Trump's threat of more tariffs on China as an excuse to sell or his calling to end the Russian probe on him. I suppose Mueller is getting too close for comfort so he doesn't want to be outed. I think that press conference the other day speaks for itself. Never mind what the media says, just listen to what Trump said and then the "would/wouldn't" excuse the next day. What a joke.

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