Elliott Wave Stock Market Update - March 12

The market has staged a strong counter-rally that invalidates the previously posted short-term count and unless there is a lower low soon then the rally will continue. I still prefer to see an IHS for predictability's sake but the trend is what guides the market.


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

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

Long Term Trend = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - March 7

Selling has continued as expected and support was broken so the bias is now clearly bearish. My assumption is that prices will go into the 2600's and 2603 or 2681 holds will give us a clue for the next few months. A correction that ends up bottoming at 2603 or 2681 would create an IHS pattern that targets 3250. But given the fact this bull market is now 10 years hold (March 9, 2009) it wouldn't be a surprised if we will see a much deeper correction and eventually a real bear market. I will be going long using the support levels I mentioned but if they break then I will continue to wait for good entry levels.

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

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

Long Term Trend = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - March 6

Prices came down today as expected but remain above the critical level of 2764. Selling could accelerate if this support level breaks but if it holds then it means there is still room for one more leg up. Also, there is a bearish cross on the daily MACD oscillator and that is normally a reliable indicator or downside to come.

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

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

Long Term Trend = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - March 5

The market traded sideways today and ended the day basically flat and this lines up well with a potential strong bearish wave coming . A break of 2764 will send prices much lower. Given how much the market has rallied in the last 10 weeks, a stronger correction is not a surprise. What remains in doubt is whether this recent rally was just a bounce or a new leg to a new ATH after a fast correction in December.

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 = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - March 4

The market made a higher high early morning but then went into a strong sell off that was partly reversed by the end of the day. I think is safe to say that if today's high holds then we will see lower prices in the next few sessions. A break of 2764 will send prices much lower. Given how much the market has rallied in the last 10 weeks, a stronger correction is not a surprise. What remains in doubt is whether this recent rally was just a bounce or a new leg to a new ATH after a fast correction in December.

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 = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - February 26

The market closed flat today and it looks like it still has some more room to go before going into a real correction. Seems like bears need some sort of news to wake them up.

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 = Bearish trend being challenged

* 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

Elliott Wave Stock Market Update - February 25

The market was able to trade above 2800 for the first time in months but we should see a correction soon as the waves look completed. My assumption is that the correction will drive prices down to test  2748 at the very least but it could go to 2600's. As long as the low made in January holds then we should see the rally continue towards a higher high and even a new ATH! I will be going long on the correction unless there is a panic feel to it.

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 = Bearish trend being challenged

* 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