Elliott Wave Stock Market Update - March 18

The market technically went into a "correction" today but looking at the structure I can see even more upside ahead before any significant pullback. There is plenty of resistance between 2076 and 2116 and that would be an ideal place for some sort of top. Also, they serve as ideal levels to go short or hedge for an expected pullback to the 50 DMA. Now, this assumes the 5th wave posted is in play. If the current wave is indeed a bullish W3, then I'd expect the pullback to test the 200 DMA after the top but that's about it.

For an more elaborate analysis of the current wave please visit http://www.ewaveanalytics.com The current rally in equities and oil was called almost perfectly over a month ago on that site.


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 - March 17

Yesterday I posted "the count could be correct and currently completing or this is just about to shoot way up". Today I am starting to lean towards the market going towards the 2100 level given the huge day in transports. In the most recent corrective cycle, transports was the first index to break down and now it is the strongest performing index. I mentioned last week that if the 200 DMA was re-captured there would be a good possibility of the market turning its long term trend to the bullish side and it seems like this will be the case. Lastly, oil has hit $40 as I speculated about over a month ago and stability there will provide the perfect excuse for a turn in sentiment.


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 - March 16

A new high was made again as expected but I think there is still more upside ahead. Like I said yesterday, the posted count could be correct and currently completing or this is just about to shoot way up. The most bullish count has the current move as part of a nested 1-2, with W2 at 1890 so this count would easily take the market to new highs in a fairly short 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 = 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 - March 15

A lower low was made today but the same bias continues. It seems the wave from the (iv) is not done and we could see a rally as soon as tomorrow if today's low holds. And again, this 5th wave could turn into a bullish W3 if we use the most bullish count so if you are shorting keep that in mind.

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 - March 14

The market made a slightly higher high at 2024 but it looks like it is getting ready to go higher. The current count posted has the current short term wave as the end of a 5 wave count from 1810. This count has predicted the rally accurately for the past month. However, there is a substantial possibility of a bullish nested 1-2 in the works and if we could see a strong rally without any corrections in the next few sessions. I'm sticking to the current count for now but will change it to reflect the more bullish count if there is confirmation.

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 - March 11

The SP500 finally made a direct challenge to the 200 DMA as I had been expecting for quite some time and the next week or two will prove pivotal to the long term trend. The market has rallied for almost 12% in just one month and as I pointed out on my long term chart on posted February 12th, there is a good probability this could be the initial stages of a LT W5. I know it's hard for some people to imagine the market going higher but the long term chart has worked very well for the past 5 years in giving an overall direction for the market. So until proven wrong, I will assume new all time highs are coming in the not too distant future. A top for the entire rally from 2009 would be ideal in the first year of the next Presidency. Who gets the blame for the next recession will probably be between Hilary and Trump.

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 - March 10

The W4 remains a possibility but it will start looking suspect if we don't see a rally tomorrow. Considering recent advances in oil and the aggressive QE the EU is implementing, I'm surprised the market didn't gain traction today. So failure to complete the 5 wave count will lead to a bigger correction, perhaps to the 1931 level.

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.