Elliott Wave Stock Market Update - October 14

The market has continued to correct as it was expected when the count completed. However, the lack of impulse to the downside while short term oscillators are being reset are indicative of a W4. So if selling doesn't get traction in the next couple of sessions, I will re-label the count and make 2022 the top of (III). Which implies higher highs once the correction is over. If the market sells off, then we can confirm the completion of the 5 wave count from 1871 and look for an appropiate Fib retracement level.

I am still hoping to short the market if there is a higher high. But in the meantime, I think I will be buying some silver or gold on a 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 = Bearish trend being challenged

Long Term Trend = Bearish

* 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 per

Elliott Wave Stock Market Update - October 13

The market made a higher high as expected and the count is technically complete. However, the 2030+ area was not reached and I am not sure if there is room for one more impulse before a correction to the Trend Average. Also, the intermediate trend is about to turn bullish unless there is a bearish miracle in the next few days. I was hoping to buy back the shorts I sold last week but I might end up just giving up on the positions for now if a higher high is not reached.

I am going to try to watch the debate tonight but it's not like I'm too enthusiastic about it. You have a power hungry woman that will do and say anything to get elected and a communist as their front runners, so not much can be made out of that. I used to think that Jeb Bush was going to win for sure but I think it might just be Trump at this point. Not because he has great ideas, but because he has been able to manipulate the public and the media the best. Similar to Obama in the sense that he was able to get a lot of support despite a thin record in politics and zero business and organizational experience. The race next year is going to be entertaining for sure, this whole thing reminds me of the movie Idiocracy.

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 = Bearish

Long Term Trend = Bearish

* 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 per

Elliott Wave Stock Market Update - October 12

The market consolidated today and reset some of its short term oscillators, which lines up well with the count posted. Assuming we see the wave complete in the cash market, we should see a higher high in the next couple of sessions before the start of a bigger correction. I like the 2030+ level as the top, so I will be buying back the shorts I sold last week at a big discount if I can catch them at that level. With that said, I am now just expecting a correction as opposed to a lower low or 1820 given the length of current bullish wave. I know some people want a bigger correction but bears are simply running out of time.

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 = Bearish

Long Term Trend = Bearish

* 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 per

Elliott Wave Stock Market Update - October 9

Earlier this week I posted the following when resistance broke:

"The market kept rallying today in what seems like a bullish micro W3 and I wouldn't be surprised if 2020 is going to be challenged before any meaningful correction"

Now that 2020 was reached, we can finally see a bigger correction. But since the 5th wave sub-divided into a 5 count, the ideal scenario would be one more push up towards the 2030 area (possibly even 2039) and then a substantial pullback. The next bearish wave is very important as it could be a make or break wave for bearish case for the remainder of the year. In order to stop the bullish impulse, bears would have to bring down the market below 1867-1871 or about 8%. Anything that fails to make a lower low will confirm a bullish bias in the market and could form a base for a sustainable multi-month rally. If the wave from 1847 to 2020 (so far) is W1 of LT 5, then the target is 2,250 assuming no sub-divisions.

I am waiting for the lowest risk/highest reward entry point to short. So I will start buying back the shorts I sold earlier in the week on trade over 2030.

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 = Bearish

Long Term Trend = Bearish

* 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 per

Elliott Wave Stock Market Update - October 8

I am going to keep this one short as I am in Miami on a quick business trip  and need to wake up early for a meeting. Basically, the 5th wave has sub-divided like I speculated on yesterday's post and the targets remain the same. The 2020 level has technically been tested with today's high but looking at the wave structure, there could still be more upside left before a bigger correction. Bottom line is, bulls look like they are taking back control of the market.

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 = Bearish

Long Term Trend = Bearish

* 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 - October 7

The market rallied as expected in a W5 to a higher high to challenge the 50 DMA at 1996. At this point, there are enough waves to call the entire structure from the 1871 low complete. But as long as 1971.99 holds, we might see the W5 sub-divide and reach the 2020 resistance level. If I breakdown W5 and assume the high today at 1999 was a W1 of W5, then we are looking at 2040 as a target which is right under the next level of resistance at 2053.

I assume how China trades tonight might influence the US market tomorrow. The Chinese market has been closed for a week and currently the market here has China priced at 3,400 (last time it traded it closed at 3,050). So if there is a huge rally there tonight, we will see momentum carry over. However, if there is a 5th bearish wave left to the China count as I posted yesterday, then negativity would help bears here in the US. I am waiting for 2020 or 2053 to be challenged to buy back my short position with the expectation of a larger correction. The higher the market goes, the lesser probability 1820 will ended up being tested.

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 = Bearish

Long Term Trend = Bearish

* 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 - October 6

The market has gone into what seems like a W4 and this implies further upside before a bigger correction. Oil is finally breaking out of range and this will help energy components of the market, making it harder for bears to challenge recent lows. If bears fail to bring down the market to the 1867 level again in the next few weeks, chances are the correction that started in May is nearing its conclusion and we will see the resumption of the bull market for one final leg to new highs.

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 = Bearish

Long Term Trend = Bearish

* 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.