Elliott Wave Stock Market Update - October 20

Prices opened down early morning but bounced around before settling right at the Trend Average level. If the market plans to break out it should happen tomorrow, otherwise we will see either 2124 or the 2114 low tested again. I almost stopped out but decided to hold because of the zig zag early in the morning. I guess the market didn't care much about the debate last night.

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 trend being challenged

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 - October 19

The market traded in the resistance area for most of the day and this managed to turn the Trend Average bullish. Prices might get past resistance tomorrow and go towards the 50 DMA if the market finds a good excuse to rally. Maybe the outcome of the debate tonight will be the catalyst but I think we should know by now what to expect. More BS from Hillary and more crazy talk from the Donald.

I went long right where I sold at 2144 and I am setting a short stop at 2138.

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 trend being challenged

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 - October 18

The market rallied towards resistance as I expected yesterday and closed right on the Trend Average. If the IHS pattern materializes we should see the rally continue tomorrow or Thursday towards the 50 DMA as mentioned yesterday. I ended up locking profits at the high today and will probably buy again on a test of today's low or the break out (assuming it's not too far from the neckline). Also, I will be launching my TW vs SP500 portfolio soon. Just looking for software that automates some of the tracking results.

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 trend being challenged

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 - October 17

Prices continued to correct for most of the session today but the pattern continues to look like an IHS. We could see a rally take place as soon as tomorrow as long as the low from last week doesn't get breached. I am expecting the 2145-2150 level to be challenged but we could also see prices reach the 50 DMA at 2163. I went long today at 2130 in hopes the market will stick to the IHS pattern.

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 trend being challenged

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 - October 14

The market was able to reverse the bearish set up mentioned yesterday and there is now hope for a bottom. The pattern printed today looks like an inverse head and shoulders and we could see prices rally back above the 50 DMA at 2165 next week. With that said, if the counter-rally fails to recapture the 50 DMA then this week's low is likely to be tested again. At this rate, maybe the market will make up its mind by the time the election is over. And not that it matters much since I think it's almost a given at this point that Hillary is going to win. Trump dug his own political grave with his motor mouth and his small hands. The GOP better get an electable candidate next time or else it will be 16 years of Obama/Clinton.

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 = Bearish
Medium Term Trend = Bullish trend being challenged

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 - October 13

The market continued to sell off as I was suspecting to make a lower low at 2114. Prices rallied back to erase most of the losses for most of the day but the pattern continues to be bearish as there is bearish nested 1-2. If bulls can push prices past the 2145 level then the bearish set up will be invalidated, if not then there is more selling ahead.

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 trend being challenged

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 - October 12

The market bounced as expected from oversold conditions but found resistance at previous support in the 2145 area. The bounce was a zig zag and the bearish set up for a strong wave down is in place. In fact shorting at these levels with 2145 as a stop looks tempting. But since support has not broken, it's probably best to continue to be cautious as the market is reaching a sink or swim moment.

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 trend being challenged

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.