Elliott Wave Stock Market Update - March 28

The market didn't do much today but managed to end up the day slightly positive. If the high from today is not breached by tomorrow, selling will most likely resume and the 200 DMA will likely be challenged again. I was thinking of going short today but I was just too busy with work so maybe I'll get a chance tomorrow.

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 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 - March 24

The selling continued today and put in a lower low just barely above the 200 DMA before reversing the rest of the day to erase most losses. The micro-wave structure looks like an ABC, so I'll assume it will be some sort of zig zag correction until proven otherwise.

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 23

The count seems to have completed with yesterday's high and we might be seeing the beginning of a correction for the entire structure from 1810 to 2055. Assuming there will be no further highs, a pullback to test the 50 DMA currently at 1939 would be reasonable. However, if the 200 DMA at 2017 holds the correction then we should see higher highs in the short term. I might go short with a stop at 2055 on the bounce but still need to see how the counter-rally evolves.

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 22

Another high was made today despite the unfortunate events in Europe. However, the 2043 low was breached and today's higher high could be the top of the count posted. With that said, if the 2040 low from today stays intact, then we could see a micro 5 count evolve to challenge multi-month resistance at 2076.

I was planning to go to Europe in the summer this year but with all these attacks and uncovered terrorists cells, I think I will just head to the Caribean or somewhere domestically (maybe Hawaii?).  ISIS is sending terrorists to the west and continues to plan attacks as a way to fight a "war" against the west and until they are faced head on, these attacks will continue. I remember an interview where General Schwarzkopf (commander of the first Persian Gulf War) questioned why Bush Sr did not push all the way to Baghdad to take out Saddam Hussein and what we are seeing today is the obvious answer. These regions need dictators to keep the extreme elements in check and not democracy.  And the ongoing mess in the Middle East is a reflection of failures by Bush Jr and Obama's administration to understand the fact that democracy is not meant for everyone.

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 21

The small correction from Friday continued for most of the day today but the wave made a higher high at 2054 in what I expect to be another impulse. We should see another rally tomorrow or Wednesday as long as 2043.14 doesn't get breached. Also, the 5th wave for the entire structure from 1810 is about to run out of waves so if the rally persists, I will be changing the labels to a nested 1-2 set up where the current wave is a W3 of a W3. I know it's hard for some skeptics to accept the fact that new all time highs could be made but the rally in oil along with a weaker dollar provides enough of an 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 = 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 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.