Elliott Wave Stock Market Update - November 19

The short term trend has turned bullish with today's close and we should see the market continue higher on a W3. Whether the W3 sub-divides is anyone's guess but we should see a push towards the most recent high at 2116. Maybe even the all time high set in May will finally be taken out in the next few weeks.

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 into consideration other factors.

Elliott Wave Stock Market Update - November 18

The 2068 resistance level was broken easily today and this move confirms the move from 2116 to 2019 as an ABC correction. There is the possibility for another zig zag to test the 1990-2020 area again but if a bullish W3 is confirmed in the next few sessions, then we are looking at new all time highs. I am raising my stop on my longs to the W2 low, so a good trade already even if the bullish W3 doesn't materialize.

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 = 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 into consideration other factors.

Elliott Wave Stock Market Update - November 17

The market tested the Trend Average and the 2068 resistance level early today but fell short on confirming the beginning of a sustained rally. I assume the wave from 2019 to 2066 will continue to correct before resuming the rally. However,if the market ends up selling off in the next couple of sessions to a lower low then the 1990 level will likely be tested. I raised my stops on my longs to break even, so hopefully my stop won't trigger.


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


Short Term Trend = Bearish
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 into consideration other factors.

Elliott Wave Stock Market Update - November 16

The market bounced right off the 2020 support level in a very bullish day. And as I mentioned last week, one could argue for an ABC move from the 2016 top and a rally past 2068 will confirm this. In an ideal world, the market would continue to correct and test today's low again after this rally exhausts. But considering my target area for the correction (1990-2020) has already been reached, the market is free to continue to rally without pulling back.

I assumed the tragedy in Paris would affect sentiment but I guess the market is moving on. This mess in the Middle East will continue to linger until we just leave the entire place or go back in there and annihilate the terrorists. This war from the air is not doing much unfortunately and Obama is basically clueless (not that this mess is primarily his fault). Too bad we can't just drop a nuke and get rid of them once in for all.

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


Short Term Trend = Bearish
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 into consideration other factors.

Elliott Wave Stock Market Update - November 13

The market went right through the 2039 market support early morning and ended the day near the next support level in the 2020 area. I am not ready to label the waves until I see what the market does on Monday but one could argue for a completed ABC from the 2016 top. However, if selling accelerates on Monday breaking below 2000 then the wave today is part of a bearish W3. And again, the selling should not come as a surprise after a 12%+ rally in 5 weeks. If selling gets out of control the we'll evaluate the bearish options.

I was originally hoping to short but since selling ended near support, I had to go long towards the end of the day to play the bounce.

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 = Bearish
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 into consideration other factors.

Elliott Wave Stock Market Update - November 12

The market has likely topped at 2116 for its Int W1 given with today's decisively bearish close. I had been hoping for a 5th wave to complete at a higher high but chances now look dim. Looking at possible retrace areas for the wave from 1871 to 2116, I like the 1990-2020 area as possible bottoms but a counter-rally is expected if the 2039 support level holds. A good correction would set up the market for a strong rally towards the end of this month or early December. The current excuses for sell off have been lower oil prices (which is ultimately bullish imo) and the interest rate hike, which in itself is historically bullish in the short term for the stock market. So my guess is the market will close the year with a new ATH. But for now I will be looking to short on a bounce to the Trend Average.

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


Short Term Trend = Bearish
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 into consideration other factors.

Elliott Wave Stock Market Update - November 11

I was under the impression the markets were going to be closed today because of Veteran's Day but I guess not. Anyway, the W5 impulse I've been anticipating has yet to materialize and the count is running out of time. So unless the market stages a strong rally in the next couple of days, chances are the top for the wave structure from 1871 is in. Confirmation should come in the break of this week's low at 2068. This has been a long rally and a substantial correction should be expected but it would be nicer if the count completed so I could short it at the top.

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


Short Term Trend = Bearish
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 into consideration other factors.