Elliott Wave Stock Market Update - September 21

Prices finally moved out of range as expected and the close was substantially above the Trend Average. If the market is able to follow through on today's rally in the next few sessions then we can assume the triple bottom is in place, specially when the 50 DMA at 2168 is recaptured. The Obama administration is on track for being one of the best ever for the stock market. The question now is who is going to get the blame for the next stock market correction/crash. And not that they deserve the blame but we all know most people are going to blame the next President.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish trend being challenged
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 - September 20

The market has been stuck in a sideways range for more than a week but should see a break out or break down in the next few sessions. If bears are able to gain momentum, we might see strong selling that will take the market down to 2085. However, if the Trend Average is recaptured then there is a good chance the bottom is in place.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com



Short Term Trend = Bearish
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 - September 19

Prices rallied early in the morning to test the TA but reversed course for the rest of the rest of the day. Unless the market is able to rally past 2163 in the next few sessions, the 2119 lows are going to be tested again for the fourth time. The market is undecided and needs an excuse for the next substantial move. The Feds have to raise rates sooner or later but given Obama's luck, we might see rates rise only after the elections. Once rates start to rise we should see a recession within a year or two and then we will find out the consequences of keeping rates so low for so long. My guess is we will see a big correction in all asset classes, specially equities and real estate.


For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com



Short Term Trend = Bearish
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 - September 16

The market went into a minor correction and yesterday's lows have a good chance of holding if we see a bullish Monday. The real test again for the bullish case will be recapture the 50 DMA and the TA next week. Failure to turn the short term bullish bias will end up in more selling.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

Have a great weekend!



Short Term Trend = Bearish
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 - September 15

The market managed to put in a fairly recent rally today and we should find out if the selling is over on the coming correction. If the 2119.90 low is respected then we will see a rally to at least the 50 DMA or the Trend Average in the next few sessions. In fact, adding longs on the retrace and using support as stop looks tempting.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish
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 - September 14

The market ended up testing 2120 again and unless we see a strong rally tomorrow, lower prices are coming soon. But like I said yesterday, given how long the correction has been in place, chances are an important bottom is coming fairly soon before another big rally.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish
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 - September 13

The correction has continued as expected but the retrace today was far more than I had anticipated. The low today at 2120 is marginally higher than yesterday's low so this could be a double bottom if this support level continues to hold. Considering the market has been in a correction for over a month, I wouldn't be surprised if we see a sustainable rally in the next week or two. But first, the TA needs to be recaptured for the market to stabilize. 

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish
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.