Elliott Wave Stock Market Update - March 20

Prices breached the 2376 level I was watching so the 5 count I was following is no longer viable. This leaves the market with 2 options, a bullish nested 1-2 that will easily make new all-time highs or  a bearish 1-2 set up after an ABC move from the 2354 low. Given that the TA is still bullish, I am going to lean towards the bullish option but should the trend turn negative, it will be time to look at the 50 DMA as a target for a bigger correction. I did not stop out of my long position, instead I will exit if the TA turns bearish.

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 - March 17

The market closed slightly down for today but the expectation for higher highs remain. There is a chance for a bullish nested set up but it's too early to tell at this point. I hope the market will behave like other years and put a high in May before going into a big correction in the summer.

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 - March 16

The market made a higher high in pre-market before going into correction mode for most of today's session. Still, prices are above the W1 high of 2376 and the TA has turned bullish, so I assume there will be a bullish wave coming to challenge all time highs as soon as tomorrow. I am maintaining my stop at 2376 just in case this turns out to be an ABC or a nested 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 - March 15

The market rallied as I had been expecting but now we have to see if this will be a new 5 wave impulse or an ABC move from 2354. I am leaning towards a 5 wave impulse as I think there is room to rally until about May but I am also raising my stop to 2376 on my longs just in case. Maybe the market can get to 2500 and then make a major top?

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 - March 14

Prices tested the upper range of support at 2258 before staging a mild counter-rally for the rest of the day. Still, the pattern still can be an ABC move or the beginning of a 5 wave impulse, whatever it is, we should find in the next session or two. I am sure whatever the Feds do tomorrow will be used as an excuse for the next move.

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 - March 13

The market didn't do much today and the potential patterns mentioned on Friday still apply. I am hoping there will be a breakout to new highs so prices can line up for a "Sell in May" event this year. I am still holding with the same stops as last week.

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 - March 10

The market continued its counter-rally today and looking at the pattern, we are seeing an ABC move or the beginning of a 5 wave impulse. My guess is a rally that gets stopped at resistance at the 2383 level will most likely be an ABC move and lead to a continued correction. But if we see a strong move past resistance, then we will have a W3 and a projected target of 2405 or a new all-time high. The economy is doing well and this could go on for a while more, maybe 1 or 2 years? The Feds need to raise rates aggressively in the next few months and once they start cutting, that will be our clue that the recession is on the horizon.

On a sidenote, I am almost at my retirement goal I set for myself years ago. I got here thanks to my business and some investments unrelated to stocks, so in a month or two I could retire and do nothing for the rest of my life (not that I would do that since I enjoy being productive). It took me about 22 years(when I first formulated my retirement plan) to get to this point and anything going forward will be just icing on the cake. I am keeping my positions in China intact and after almost two years of correcting, I think the recent "bubble" high will be challenged later this year or next. Whatever happens is extra but I hope it doubles in the near future, I've waited long enough.

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

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