Elliott Wave Stock Market Update - May 19

The market made a higher high today but reversed all its gain by the end of the day. For now, I expect more downside before the resumption of the rally to complete the count posted. Maybe the market manages to surprise everyone this year by skipping corrections and going straight to 2300? as it is, there has only been one bull market that is more expensive than the current one measured in market cap to GDP. The only other time stocks had a higher market cap to GDP was in the dot-com era 15 years ago. And it is just a question of time before the next bear market begins, when that will happen is obviously anyone's guess. But my assumption is one is coming within the next 2 years and hopefully we'll see good opportunities like in 2001 or 2009. I hope I will have reached my retirement goal by then so I can double it in the next bull run.

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.

Elliott Wave Stock Market Update - May 18

The micro-count posted seems to have completed today and we should see a correction in the next session or two. This count could evolve into a bigger impulse to complete the IHS projection or could end up being an Ending Diagonal. We should get an idea by the end of this week or early next week on the most likely outcome. But I'd be surprised if the market manages to keep rallying into the summer without a meaningful correction, I guess we'll find out soon.

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.

Elliott Wave Stock Market Update - May 15

Another new closing all time high was made today and we might see an attempt to break out of range next week. We might see a small correction after the structure is complete but if the market follows the count, then substantially higher highs are coming. The weak dollar and oil has helped the market keep its bullish bias, but the question is for how much longer.

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.

Elliott Wave Stock Market Update - May 14

The market closed at an all time high as bulls are gathering momentum to break out of range. If the current wave is indeed a W3, we should see substantially higher highs in the next week or two. With that said, a top is coming up soon and it's best to be cautious. In the last 5 years, we've seen a negative May every year with the exception of 2014. My longs are doing well but I decided to buy back VXX protection just in case.  I want to enjoy the moment but want to avoid surprises :)

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.

Elliott Wave Stock Market Update - May 13

The market seemed like it wanted to rally early morning but ended up reversing gains and forming a small H&S that might end up testing 2085 again. The whole move from the 2017 high could be a zig zag so a lower low should not be ruled out before another attempt to rally.  Obviously, if the market goes lower and loses its 50 DMA, then 2039 will be the level to watch to confirm a bigger correction coming.

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.

Elliott Wave Stock Market Update - May 12

The Trend Average and the 50 DMA were tested early today as I had been expecting but the wave doesn't look impulsive, so it seems like the market wants to go for another all time high. The low today creates an Inverse Head and Shoulders pattern that targets 2170, which is a high target considering how much difficulty the market has had clearing recent ATH resistance. But it is what it is, we have a bullish pattern and the trend has reverted to the bullish side again. I still think we'll see the start of a bigger correction soon but the current bias is bullish, so no point in fighting it. I sold VXX at a small loss but looking to buy back again on signs of weakness.

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.

Elliott Wave Stock Market Update - May 11

The market started to pullback after challenging the high from last week and we now need to see how the TA/50 DMA will hold on the correction. If prices are able to hold above 2100, there's a good chance the all time high will be challenged. However, if the market goes below the 50 DMA again we could see the start of a bigger correction that will last a few weeks/months. Bonds yields rose the most in 2 months today and that could be a sign the market will start rolling over soon.. we'll see.

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


Short Term Trend = Bearish 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.