Elliott Wave Stock Market Update - November 18

Prices came within 4 points of a new all time high but just could not get past resistance. The market could use a break at this point and correcting back to the 2150 level would be a reasonable price correction. However, as I said yesterday, the market could enter into a sideways correction instead and bounce around the 2170-2190 area before another bullish leg materializes. Now that the elections are over, the next major catalyst for the market will be the holidays and earning prospects in January.

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

Elliott Wave Stock Market Update - November 17

Prices made an higher high today and it's enough to call the wave from 2083 over. However, prices are so close to all time highs that it would be ideal if we saw this level challenged before the next correction. The Trend Average is now at 2163 and we could see a time correction instead of a price correction in the next week or so since the TA is catching up to the market fast.

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

Elliott Wave Stock Market Update - November 16

Prices failed to make a higher high today in the cash market but they technically did already in pre-market, so we could see a correction starting soon. If we ignore the higher high in pre-market, there is still room for upside and a new all time highs in the next few sessions. At this point I think it is a question of when and not if.

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

Elliott Wave Stock Market Update - November 15

I am posting late today because I spent the whole day at Disney's California Adventures, great place to take the kids. Anyway, the market is following the 5 count posted and I expect a higher high to complete the structure and then a correction to test the rising Trend Average. If bulls can gather momentum tomorrow, we might see a new all time high before the end of the week.

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

Elliott Wave Stock Market Update - November 14

The market seems to be consolidating in a W4 and unless there are lower lows tomorrow, we should see another rally to challenge all time highs. The DJIA made another all time high today so in time the broader market will very likely do the same. For now, I am just being patient and waiting for a test of the TA to go long.

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

Elliott Wave Stock Market Update - November 11

The market has continued its correction but has not been able to break support at 2150. If support breaks on Monday, we should see the TA tested. However, if it stays intact then we should see another higher high coming next week. Now that the elections are over, traders can finally focus on other things.

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 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

Elliott Wave Stock Market Update - November 10

The market got close to its all time high today but reversed as expected and should see a minor correction coming soon. However, I should note the DJIA has made an all time high and much higher highs are likely. I won't be surprised if all major indexes stage a major rally to substantially new highs in the next few weeks.

I incorrectly assumed the markets would not be able to tolerate a Trump presidency given the signs prior to the elections. And the market did panic for a few hours by crashing in pre-market trade but it seems like traders changed their minds and are now looking at the potential benefits of Trump's policies. So the wave count and technical indicators ended being correct anyway despite Trump. My opinion ended up being wrong. However, the long term wave count is nearing a top and a recession is going to come sooner than later. Trump's economic policies are much better for growth so in a way the US is lucky we will have pro-growth policies from a businessman as opposed to a political bureaucrat. I have always been for lower income taxes and lower corporate taxes and this is what he said he was going to implement. I am more in line with the establishment Republicans when it comes to trade so I hope something gets worked out there. Being an isolationist country will make the US noncompetitive in the long run, it's econ 101.

I ended up buying oil today and will continue to wait for a good correction to get back in long in the SP500.

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