Elliott Wave Stock Market Update - December 20

The market traded slightly higher today and could technically setting itself up for a rally tomorrow if today's lows holds. However, the possibility of testing support mentioned yesterday remains probable before the real rally takes place. I went 50% long (as in half of what I normally trade) in after-hours to make sure I don't miss any upside. I am also paying attention to gold as the bottom is near.

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 - December 19

The market has continued its consolidation and there is a triangle in place that could result in another bearish leg to test the 2242-2248 support area. I was hoping to a lot more downside prior to a Santa Rally but this might not get much lower before the next leg of the rally starts. So if support is hit, I will be going long with a short stop. I also ended selling my oil position today for a decent profit and will buy again if I see a good set up.

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 - December 16

Prices pulled back slightly today and the Trend Average has basically caught up with the market. So, we could see another leg of the rally develop early next week. There is a real possibility that 2,300 will be reached by the end of the year as long as the TA remains bullish. I will go long early next week if I see a good set up and I am keeping my oil longs in hope a W3 materializes.

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 - December 15

Prices attempted to rally today but found resistance at 2272 before giving up some of its gains for the rest of the day. Ideally, the correction would continue and test the rising Trend Average. But as I said yesterday, bullish sentiment is strong and we might just see shallow pullbacks for the next couple of weeks. I was able to go short again near resistance and closed the position at the end of the day to pay for my coffee next month :)

I just bought back oil and looking to gold for possible longs in the next few sessions. Gold could be close to a  bottom after selling off 18% in 6 months.

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 - December 14

The market corrected had corrected as expected and today's pullback is the strongest one-day pullback since early November. Given how overbought the market is, there is plenty of room for further downside. However, since traders are still high on positive sentiment, we could see a rally back to the top as long as the Trend Average remains bullish. I ended closing my shorts for a nice profit and will again go short again if I see a favorable bearish pattern or long on a good risk/reward set up.

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 - December 13

Prices made another all time high but I think we have enough waves for a bigger correction in the next few days. The market has rallied almost 10% from the November low (and much more if you count the election night premarket crash) and could use a break to set up a Santa Rally. I went short after-hours and will be using today's high of 2177 as the stop.

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 - December 12

The market finally took a break today and corrected a few points. It would be great if prices came down to 2214 so I can go long, but we might just see a shallow correction despite the big run up since November 8th. I think the current reasoning for the market going up is the reflation expectation with the Trump administration. Whether or not it happens and translates into increased profits is another story. But as the market reaches over-priced levels, it is best to start getting ready for a bear market in 2017 or 2018 if Trump gets lucky.

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