Elliott Wave Stock Market Update - February 19

The market has continued to consolidate gains and should start to rally early next week as long as today's low of 1902 doesn't get breached. Oil's sell off did not help but assuming major producers can agree to some sort of freeze or even cut in production, oil prices will stabilize going forward. Demand for oil is strong (8 year high), producers just need to eliminate that extra million barrel a day flooding the market.

Also, I was looking at tax plans being proposed by candidates and wanted to post the following link. As much as I think Trump is a clown, he has the best tax plan and one that would save me a lot of money. The worst thing that could happen to this country would be a Sander's presidency given his communist tax plan. If Sander's were to win, there will be a major stock market collapse for sure. 

http://taxfoundation.org/comparing-2016-presidential-tax-reform-proposals

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 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 - February 18

The market consolidated some of its recent gains in what seems like a W4 and might attempt to rally as soon as tomorrow to challenge the 1947-1957 area. As long as oil remains stable, we might see the market trade in the 2000 level 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 = 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 - February 17

The market has continued to rally as expected and we might see the 50 DMA (currently at 1960) tested without much of a retrace in the next few days.  Sometimes, market reversals become what I call "stand alone W3s" and this bullish wave might evolve into one. The next resistance level is 1947-1960 and if these levels don't hold the rally, we could see a short squeeze that will send the market towards 2000.

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 - February 16

As stated last week prior to the sell off "The less bearish wave pattern would have this wave bottom in the 1812-1820 area". Today's break of 1881 resistance confirms the bottom at 1810 and we could see sustained upside to the 50 DMA currently at 1963. While it is too soon to call for a change of the long term trend, the bottom at 1810 lines up almost perfectly with my prediction of the LT W4 bottoming at 1820. Stable oil prices and a shift in sentiment in markets around the world will help the market move towards the 2000 level again.

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 = 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 - February 12

As stated yesterday "There was a substantial bounce from the 1810 low today that could evolve into a full rally as long as 1810 doesn't get breached".  The market has followed through on its counter-rally and the big test will be the 1881 level. If the rally gets past this resistance level, the most bearish scenario will be eliminated and will open the doors to a more sustainable rally. The question then be  if the the LT W5 has started. I haven't updated the Long Term chart (same count for the last 5 years) since August last year and the labels posted on them were from then as I have no touched it since. Notice based on my calculation the price and time for LT W4 and where the market is today. I'll let the chart speak for itself.

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 trend being challenged
Medium Term Trend = Bearish
Long Term Trend = Bearish

Elliott Wave Stock Market Update - February 11

The market resumed selling today as expected and the 1812-1820 area I've been mentioning was challenged. There was a substantial bounce from the 1810 low today that could evolve into a full rally as long as 1810 doesn't get breached. Alternatively, if the more bearish option is in play, a rally that falls short of making 1881.60 would set up for the market for a strong sell off to the 1700's.

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 = 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 - February 10

The bearish 5 wave count was invalidated with today's higher high at 1882. However, selling is likely to resume tomorrow and the main question is whether 1828 will hold. The 'less bearish" wave pattern would have this wave bottom in the 1812-1820 area. But if this is a nested bearish 1-2 set up, then this is headed to 1737. I might go long to play the bounce to the TA at these support levels.

On the political front, the race for the nomination should start getting interesting from now on. It is still hard for me to think that Trump can win the presidency, much less the GOP nomination. But I guess you just can't underestimate Trump's ability to sell himself to the politically disillusioned crowd. In a way, I'd like to see Trump win to see how is he going to build a wall or "make America great again". I smell his BS all the way from this coast :) On the democratic side, they're both bad jokes. I'm actually baffled by the candidate choices on this electoral cycle. I guess the next presidency will fit well with the end of 5 waves from 2009 and a sustained correction and eventual recession.

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 = 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.