Thursday, November 15, 2018

Elliott Wave Stock Market Update - November 15






















The market posted a decent bounce today but remains bearish biased. Prices would have to rally all the way to 2815 to reverse the bearish pattern in place. Maybe we will see increased volatility ahead?

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, November 14, 2018

Elliott Wave Stock Market Update - November 14






















The market has made a lower low and most importantly, broke support at 2700 and is now bearish biased again. Also, looking at where the 50 DMA and 200 DMA are, it is highly likely a death crossover will happen in the next week or two unless bulls are able to pull a miracle and recapture the 200 DMA at 2760. If Trump is able to agree on something with China then maybe we might see a year-end really but given the fact that China is not flexible, bad news on tariffs could be used as the catalyst to send prices much lower.

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, November 12, 2018

Elliott Wave Stock Market Update - November 12






















The market continued its drop today and the potential bullish 5-count has been invalidated. The close was just below the Trend Average and nothing short of a strong rebound will save the trend from turning bearish again in the next few days. It's hard to tell what the count is now due to all the recent volatility but the market is looking tired and continued trade below 2763 will bring a death cross in the next few weeks.

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, November 9, 2018

Elliott Wave Stock Market Update - November 9






















Prices continued its pull back today but still remains within W4 parameters so we should see a rally wave to a higher high early next week if the count posted is correct. One factor that has gotten attention lately is oil. It has dropped 20% almost in a straight line since hitting a peak at $76 few weeks ago and it could be interpreted as a sign of slowing global oil demand and not an oil glut. If oil prices continue to drop we could see caution in equities as everyone knows a bear market is just a matter of time and it will happen sooner rather than later.

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, November 8, 2018

Elliott Wave Stock Market Update - November 8






















The market seems to have started a minor correction which I am labeling a W4. So, I am assume the rally will resume after gains are consolidated in the next day or two. There might even be an ATH challenge later this month for 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, November 7, 2018

Elliott Wave Stock Market Update - November 7






















The market staged a strong rally today and even closed over the 2800 level as I thought it would once the 200 DMA was cleared. The next challenge for the bulls is overcoming the 50 DMA at 2833, if that trend is recaptured then the market will be bullish and could attempt a challenge to ATH.

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, November 6, 2018

Elliott Wave Stock Market Update - November 6






















The market has turn the TA bullish and seems ready to challenge the 200 DMA in the next few sessions. I think the market will be using the election results as the catalyst even if we have no idea what the outcome will be at this point. If resistance breaks, prices have a good chance to reach 2800 in the near term.

Short Term Tend = Bullish
Medium Term Trend = Bullish trend being challenged
Long Term Trend = Bullish

Monday, November 5, 2018

Elliott Wave Stock Market Update - November 5






















The market closed up today but remains under the 200 DMA. At the same time, another close above the Trend Average will add a bullish bias to the short-term trend so we could see bulls trying to dictate the pace for the time being. Maybe, there the election results tomorrow will be used as an excuse for the next significant market move.

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, November 2, 2018

Elliott Wave Stock Market Update - November 2






















The market closed the week in positive territory and came within points if testing the 200 DMA, which was the target for this bounce. What happens in the next few sessions could give us a clue for the remainder of this year. If prices fail to recapture the 200 DMA at 2764 then we will see renewed selling and see the low of the year (2532) tested in the next few weeks. If prices are able to start trading above 2764 then there is still a chance for a year end rally despite all the recent volatility. The trade talks with China could serve as a catalyst for a big move. Considering elections are just a few days away, Trump could be more flexible than usual in announcing some sort of deal with China.

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