Elliott Wave Stock Market Update - October 20

The market reached and peaked at the 2039 resistance level I've been mentioning for few weeks. I had originally expected this level to be challenged back when the market topped at 2020 but it took an extra month to get there. If the market is able to get past 2039, then the next stop will be the 2055 level. Technically speaking, there are enough waves to call the top today but there might be a little more left for one more push.

I also added a bit more to my China position, so hoping that market will continue going higher now on a second "bubble" rally.

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 

* 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 19

The market seems to be completing the count posted, so not much to add today. It's still early to say but unless the market plunges to lower lows (which looks unlikely at this point), we should expect a strong rally to come after the coming correction is over. We are about to enter a seasonally bullish period and the absence of bearish catalysts is enough of an excuse to continue the rally.

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 

* 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 16

The market has gone into 2030+ territory as I had originally speculated when 1950 broke and now the structure from 1871 seems nearly complete. If we assume W5=W1, we get 2046 but technically speaking the top could have been the close today since there are enough waves and W3 is more than 130 points. An ideal correction would be a sell off to test the 1950 level but it might not even get there given the overall bullish sentiment in the market. China, which is one of the markets that preceded the sell off in the US is now up 20% since its low in August and looking to confirm their correction is over (trading over its 50 DMA for the first time since June). Also other global markets are rallying overall, so unless this is a strong counter-rally, there is a good chance a global rally for the remainder of the year.

I know many people have been waiting for a bear market for years and I am sure one is coming sooner than later. But it looks like it won't be until next year or 2017 going by the lack of bearish advance on this recent selling opportunity. As long as profits expand, there is not much of an excuse to sell.

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 = 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 15

Yesterday I mentioned how the correction had been looking suspiciously like a 4th wave and today we got confirmation with a higher high. I moved the (iii) label to 2022 and I am assuming 1990 is (iv) with (v) underway. The question now is whether this (v) will sub-divide and reach 2039 or the 2050 area. I haven't bought back my short position yet as I am waiting for 2030+ to lower risk. I did however buy silver to hold for a while as there are signs of a long term bottom.

There are only couple of more weeks left to trade this month and bear's chances are looking dimmer by the day. The intermediate trend turned bullish today and the long term trend will also turn if the market starts trading north of 2060.

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 

* 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 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