Elliott Wave Stock Market Update - January 31

Prices made a slightly lower low in today's session before bouncing towards the end of the day. The close was right on the TA and puts the short-term uptrend into question. If selling continues and the 2257 pivot is breached, we should see a lot more selling ahead. However, if the market respects support then we will see a rally towards 2300 soon.

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

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 - January 30

Prices failed to follow through on last week's rally and instead had the first significant sell off for the year. Normally, I would assume this is just a correction with higher highs to come. But the "island top" pattern on the chart is troubling for the bullish case in the short term. So, until I see the pattern invalidated, my assumption is the Trend Average will be turning negative soon. The sell off triggered my stop, so I am out of the market again and waiting for another set up to get back in.

The sell off today is being attributed to Trump's policies. While, the market was due for a correction, I am sure Trump didn't help much with his immigration ban. I agree that political correctness should be put aside in order to keep terrorists out, that people should be checked throughly when they are from "problem" countries. However, this ban is simply ridiculous and hurts people who already live legally and peacefully in the US. I find it ironic that Trump didn't ban people from countries that have actually sent terrorist to the US like Saudi Arabia, Pakistan, or Afghanistan (he has business interests there apparently). Instead he banned people from Iran, who are normally victims of Al Qaeda/ISIS terrorism and have zero record of ever committing or planning to commit terrorists acts in the US. Somebody needs to tell him the difference between Sunny and Shia muslims.

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 - January 26

The correction continued today but it looks like it is setting up for another leg higher early next week.  Given how the 4th wave looks in relation to the 2nd wave, I might be wrong in assuming the coming wave is a 5th. Instead, the coming bullish wave could end up being a W3, with 2257-2300 as W1. Whatever the case, the bias is to the upside and I bought back my long position in anticipation of much higher prices.

The ultimate target for the bull market is 2400-2500 and I continue to think there is a good chance the market tops this year. Trump's unorthodox economic policies in regards to trade might end up igniting a recession and provide the perfect excuse for the market to be cut almost in half.

Trump Recession

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 - January 26

The market finally hit the 2300 level today before going into a mild correction. I had the count complete yesterday but going by how corrective the pullback looked today, I am re-labeling the chart to give room for another leg to a higher high in the next session or two. The market is ignoring Trump at the moment but we could see a bigger correction soon, as Trump gives the market plenty of excuses to sell. For one, imposing 20% on Mexican imports will only lead to retaliation from US's second largest export market. If he wanted Mexico to pay for the wall, he could have done it by other means and not by messing with trade.

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 - January 25

The market finally broke out of range and almost reached 2300 at the close. All other indexes, except small caps, reached all time highs and this could evolve into a much bigger rally that will reach 2360 if we see a 5 count evolve. My ultimate target for the rally that started in 2009 is within reach, but obviously, we have to keep an open mind in case euphoria gets out of hand.

I sold my position at 2297 and looking to buy back on the correction. I'm assuming the opening gap will be closed sooner than later.

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 - January 24

The market rallied to new all time highs as I was expecting and we could finally see a strong break-out of range in the next few sessions. I'm assuming there will be a correction for today's wave but it might end  up being a shallow one. I sold when prices hit a new ATH and just bought back in after-market to improve my cost basis.

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

Elliott Wave Stock Market Update - January 23

The market continued to sell off today and tested the 2255 support level as I had been expecting. The counter-rally from the 2257 bottom was a 5 count wave, so I am assuming recent highs will be challenged again and possibly even the ATH sometime this week. With that said, the TA turned bearish with today's close and prices must stay above support or risk a real sell-off. I bought back my long position towards the end of the day, so managed to improved cost by a few points.

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