Elliott Wave Stock Market Update - February 7

The market made a marginally higher high today to complete the a 5 wave micro-count but it fell short by 1 point from making a new all-time high. The DJIA and NASDAQ made new ATH and it might just be a matter of time before the SP500 joins them. But considering there is a finished count in place, I assume there will be a pullback before another attempt to break out from the current range. I sold my longs for a minor profit and looking to buy back on the correction.

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 - February 6

The market went into a mild correction in what could turn out to be a W4. However, the overall pattern could also be a cup and handle, which points to much higher prices. Whatever the case, the bias is to the upside and new all time-highs could come as soon as tomorrow or Wednesday. I ended up buying back my long position, so hopefully the bullish bias continues until I sell :)

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 - February 3

The market was able to rally today with an early gap up that kept the market elevated throughout the day. Technically speaking, the top island pattern remains in place until a new high is made. But given the impulse seen today, the market is well positioned to continue to rally next week to new highs. I have been in cash for most of the week but I might have to jump back in the rally resumes. I also bought oil and gold on my other trading account as I think they will be going up for the next few weeks.

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 - February 2

The market didn't do much today and remains in the same position as yesterday. A sell-off could come as soon as tomorrow unless the recent high is taken out. Maybe Trump will say something crazy later tonight/early morning that will move the market.

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 - February 1

The market staged a nice bounce early morning that was sold into the rest of the day. The TA continues to have a bullish bias but the chart pattern is troubling as we could see a hard sell off if support fails to hold. So unless we see a convincingly rally in the next few sessions, my assumption is we are going to see a sell-off to test the 50 DMA at 2251. All it will take is a crazy late night/early morning tweet from the POTUS.

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 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