Elliott Wave Stock Market Update - March 31

The correction continued today but a higher high should come once the short term oscillators are reset. As it is, the SP500 managed to close this quarter with a gain and the DJIA made its biggest quarterly reversal since 1933. It's too early to tell what sort of pullback we will eventually get for the wave structure that started at 1810 but this strong move in the last 6 weeks points to the beginning of a larger bullish wave to new ATH with or without a correction. I think the "true" top for the entire rally from 2009 will come after a new President is sworn in. Given the high probability that it will be either Hilary or Trump, we should get a recession and much deeper sell off to coincide with their Presidency. A recession and a sell off because of Trump makes a lot of sense given the fact that he is more circus than Presidential material (I do however love his tax plan). A Hilary Presidency would definitely be more stable but those high taxes are a drag on the economy. I just hope she doesn't come up with new social programs/bureaucracies and start taxing even more if she wins. T

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 30

As suspected, the wave from yesterday has evolved into a W3 and the next resistance level at 2076 is expected to be challenged. I assume the area from 2076 to 2134 will be hard to clear without a meaningful correction but given the fact equities have been in a correction for almost a year, we could see prices slice through these levels. The bottom line is higher highs should be expected and the LT W5 scenario is now looking very likely.

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 29

Yesterday's high was breached once Yellen spoke and the bearish set up from yesterday is now looking very questionable. If there is a higher high tomorrow then we could see the wave from today turn into a bullish W3. I started a short position before the run up in the morning with a stop at 2056 and unfortunately it looks like I will stop out. At least the downside is minimal given where I bought, this is why I like these clear resistance levels.


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 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.