Elliott Wave Stock Market Update - June 9

The market did not rally as I had been expecting and instead went into a correction to consolidate recent gains. Still, the count remains in place until a new high is made for the year or 2105 fails to hold. It would be a lot easier if a new all time high is made so I can start working on a projection for this final bullish wave from the count that started in 2009.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 8

The market made a slightly higher high today despite short term oscillators resetting themselves. If the 2112.74 low doesn't get breached in pre-market or during cash hours,  we could see a gap up or a rally towards the all time high as soon as tomorrow. I assume once the market gets past the next levels of resistance, we'll see a break out just from short covering. The correction during the last year had a lot of bears and traders positioned for a bear market and a new all time high basically is a sign for them to throw in the towel.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 7

The micro w3 of w5 seems to be evolving with today's higher high and continued upside tomorrow would confirm the count. There is the possibility the structure is finished but it would be much nicer if we had a clear count so we can predict what to expect with more clarity. The Trend Average is approaching 2100 so we will either see a correction or a new all time highs in the next week or two.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 6

A little over a month ago I mentioned the 2111 level as a likely target for the rally and the market not only challenged this level today but made a higher high at 2113. And if 2116 gets taken out in a micro-w3 of w5, then we will see a run towards the all time high at 2134. The jobs report is serving as the excuse to fuel to the rally and now that Yellen has given a warning on a hit  to the US economy if the UK exits the EU, I can see a big rally if the UK decides to leave the EU. A Brexit would mean there would not be any more rate increases this year. So the bias is is bullish and there is the potential of a break out fairly soon. I think where things will get tricky is when the economy does fall into a recession as the options to stimulate the economy in a low interest rate environment are limited.

Lastly, R.I.P Muhamad Ali. I was too young to watch his fights live but watching them now on YouTube, I can appreciate how good this guy really was.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 3

The potential sub-division of the micro-5th wave I was looking for yesterday was voided with today's gap down opening. I was hoping the market would go down in a correction to test the Trend Average but instead the TA has caught up with the market and longer term oscillator have been resetting. I am not sure if we will see a bigger pullback next week or if the market is done with its "correction" but the bias is bullish and higher highs should come in the next week or two. Also, the bad jobs reports this morning serves as an excuse to freeze rate rises by the Feds which in turn adds to the bullish momentum in the market.

Have a great weekend!

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 2

The market closed at a higher high and it now seems headed towards a challenge to the 2111 level. I had to shift the labels to adjust the micro-count to reflect the low yesterday as a W4. And again, while this count could technically be completed because of today's higher high, if the wave from 2085 to 2100 is a W1 of a W5, then the target is 2120-2125.

I know a lot of bears have been getting screwed by the "bear market" but this whole thing had been expected. The LT-W4 correction has had enough to time to reset long term oscillators and we should see the all time highs get taken out fairly soon as long the Trend Average stays bullish. I'll take a short position towards a push to resistance to profit from a correction but then I will go long again.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.

Elliott Wave Stock Market Update - June 1

The market broke the 2087 level I mentioned yesterday early in the morning before bouncing back for the rest of the day. I was hoping for a test of the 2011 resistance but the lower low today increases the possibility of the 5 count being completed. So I'll assume there will be a correction to test the rising Trend Average before we see higher highs for the year. I sold my long position at the end of the day for a minor profit and looking to buy back on the pullback.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 into consideration other factors.