Elliott Wave Stock Market Update - October 31

The market closed marginally lower today after counter-rallying earlier in the morning. Failure to make a higher high (2133) will lead to continued selling in the next few sessions. I am assuming the the short term bias will continue to be bearish until the elections are over given the ongoing uncertainty. My guess is the markets will sell off hard if Trump wins, rally to new highs if Hillary wins.

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 28

Support at 2130 broke as I had suspected it would so a test of 2100 is now likely given the H&S pattern. The sell off today is attributed to the Hillary's ongoing criminal investigation and it seems like the outcome of the elections will be the key catalyst going forward. I am assuming if Hillary win then the market goes for a new all time high for sure, if Trump wins then we will finally see the market roll over and the end of the wave structure that started in 2009. Many have written off Trump already, including myself when the tape came out. But the latest email inquiry brings Hillary down and Trump has a real chance of becoming the President.

It will be actually funny if "Carlos Danger" (Anthony's Weiner's nickname) brings down Hillary's campaign, considering how he managed to screw up his own political chances twice for being a pervert. 

http://www.nbcnewyork.com/news/local/FBI-Reopening-Investigation-Clinton-Server-Emails-399053001.html

I sold my longs and will be buying back at the test of support. 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 27

The market failed to rally today as I was hoping and instead ended the day testing what seems like the neckline of an H&S. Also, the TA has turned bearish as well so a break of 2130 will lead to a test of 2100. If support can hold the selling then the bullish case will still have a chance but it is not looking too promising given the ongoing pattern. I was busy today and didn't get a chance to exit my long position so I will remain skeptically hopeful.

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 26

Prices almost invalidated the bullish set up early in the morning by testing the 2130 level. However, the low was at 2131 and we should see a bullish wave as soon as tomorrow. The big question now is whether the coming wave is really a W3 or another zig zag wave that will not be able to get past 2160. If prices fail to get past resistance, I am going to assume the market is just waiting for the elections to be over to make its next substantial move as earnings (which have mostly surprised to the upside so far) are basically being ignored.

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

Short Term Trend = Bullish trend being challenged
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 25

The market entered into a minor correction to test the Trend Average but managed to close above it. There could be some more downside left but as long as the bullish set up is not invalidated, the next bullish wave should challenge the 2160 area in the next session or two. The market just needs a good excuse to start the next bullish leg.

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 24

Prices finally broke out of range and the bullish pattern continues to be favored. We could see a pullback in the short term but it can't go below 2130 as it would invalidate the bullish set up. If the market is able to recapture the 50 DMA at 2160 convincingly this week , we could see a challenge to all time highs fairly soon. I ended going long again at 2151.

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 21

Prices failed to break out as I was hoping and instead made a lower low. However, the pattern continues to be bullish since the low at 2124 could be counted as a W2 and the TA is still green. Maybe a catalyst will finally come early next week and move the market out of range. I ended closing my position at 2138 and will wait for another opportunity next week.

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 trend being challenged
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.