Elliott Wave Stock Market Update - July 21

Prices corrected down to the 2159 support area earlier in the day and the bounce from this level has created the first potential topping pattern in quite some time. A rally to resistance at 2168 should be expected and I am going to get a short position at that level with a stop at the ATH assuming prices get there in a "corrective" form. If the pullback is confirmed, the natural target for the correction will be the gap at 2134.

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 = Bullish

* 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 - July 20

Few weeks ago I stated:

Once gains are digested, the Inverse Head and Shoulder's pattern will be in place and it will be interesting to see its target of 2220 achieved. This might sound unthinkable to people who think this is a "bear market" but the pattern is there and the trends are supporting it.

Today's new all time high gets the market closer to the IHS target and prices might even get there later this month or early August at the current rate. The micro-count posted is technically finished since there are 5 waves in place but it would look better if the Ascending Triangle target mentioned yesterday is hit. Whatever the case, there are still plenty of bears and that helps push the market up during a break out. Only when everyone is bullish will things truly get bearish.


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 = Bullish

* 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 - July 19

Prices continued to correct sideways today and another Ascending Triangle with a target of 2184 has formed. If the rally materializes, the micro-count posted would be completed and we should get a pullback to the rising Trend Average. I would have gone long again today had I seen the pattern earlier but was busy at work. If I see a clear topping pattern I might short for a test of the TA.

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 = Bullish

* 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 - July 18

The market ended slightly positive for the day and it seems like a higher high is about to come to finish up the W3 on the chart. Depending on how high the new ATH ends up being, the retrace could find support at 2151-55 or at 2134. A potential top for the ongoing rally could be around 2191. I am all in cash and just waiting patiently for a deeper correction, the market just needs an excuse to sell off and get bears excited again.

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 = Bullish

* 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 - July 15

The market made a slightly higher high today in the morning before "selling off" for the rest of the day. Arguably, the 5 micro-count from 2074 is complete with today's high but we could see one more high if the low today holds early next week. Once a W3 top is confirmed, we should see a correction to test the 2134 area to digest recent gains. I sold my longs earlier today and will be buying them back at the test of 2134. There is a Coup d'etat in Turkey as we speak, so we'll see how the market handles the news early next week. My guess is it will be just another excuse for a correction before another all time high.

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 = Bullish

* 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 - July 14

The rally continued today to new all time highs in a W3 that doesn't seem to like to retrace much. I ended up buying back my long position yesterday in after hours and will deploy the rest of my trading cash on a W4 pullback or in a combination of oil/gold/silver. I mentioned the Inverse Head and Shoulder's target of 2200 more than a week ago and it seems like the market wants to get there in a hurry.

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 = Bullish

* 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 - July 13

Prices have refused to drop much and instead the micro-w4 is looking like a sideways correction. We could see another leg to test today's low tomorrow but it looks like another leg of the rally is about to start soon to yet another high. There are still a substantial number of bears, which implies there is still plenty of upside. Only when the skeptics join in the rally will prices drop. The market loves suckers (like the ones who sold during Brexit).

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 = Bullish

* 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.