Elliott Wave Stock Market Update - March 7

The market consolidated some of last week's gains in what seems like W4. Another bullish wave after the correction would end up challenging the 200 DMA at the 2022 level and give us a better idea if rally from the 1810 low is a counter-rally or the beginning of a multi-month bullish run to new all time highs. Oil continues to climb towards $40 and provides a good excuse for the rally to continue.

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 personally do not use nor recommend t

Elliott Wave Stock Market Update - March 4

As stated couple of weeks ago "Support and the TA were tested as expected and the strong reversal signals the beginning of another impulse towards the 2000 level".  Today the 2000 level was finally reached and the bullish leg that started at 1810 is now 200 points long. Considering oil continues its climb towards the $40 level, equities could keep climbing despite rallying 11% from its February lows. Whether the index is able to re-capture and trade above the 200 DMA is the million dollar question. Personally, I lean towards this rally being the beginning of a LT W5 on the long term count posted a few weeks ago. Pessimism reached very high levels last month despite the economy being in a good shape, so fundamentally speaking this would be an ideal time for another multi-month rally to new all time highs to complete the count that started in March 2009. Perhaps history will repeat itself (like it happened with Bush in 2001) and we will see a major correction along with a recession in the first year of the next President.

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 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 - March 3

The rally continues and we could see a strong advance as soon as tomorrow. I'm assuming the market will take a break soon but the general bias continues to be on the bullish side. In fact, there is a fair chance of the long term trend reversing to the bullish side by the end of this month or some time in April.

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 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 - March 2

The market continued its rally towards the 2000 level and it is now just 1% away.  The coming jobs report serves as a good excuse to feed the rally, so we might get another strong up day before the end of the week.

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 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 - March 1

The market rallied to another high as I was expecting and the 2000 level will probably be tested in the next couple of sessions if the current wave is a bullish 3. The big test for the market will be overcoming the 200 DMA when prices get to that level. If the long term trend can be re-captured, we might see new all time highs in the next few months.

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 29

The market continued its correction today and ended the day testing the Trend Average. There might be more downside ahead but as long as last week's low holds there will be another rally attempt to a higher high. Oil seems to be headed towards $40 and this will continue to help equities rally 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 27

The market made a higher high today but started to pullback towards the end of the day ending right at support. We could see the correction continue early next week but as long as 1891 doesn't get breached, the target continues to be in 2000+ territory. I think as long as oil continues towards the $40 level there is a very good chance the market will keep rallying.

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.