Elliott Wave Stock Market Update - March 31

The market technically went into a correction today but it was mostly sideways. So the pattern might turn out to be a bull flag with higher highs to come sometime next week.  Long term oscillators have reset enough in the past weeks to produce another substantial rally next month, so it's best to just stay long as long as the TA is bullish. I normally would have sold some longs but I think I'm going to hold until the trend changes again.

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 30

The market made a higher high as anticipated and the count posted is technically completed and ready for a minor correction. However, given recent euphoria and end of the quarter window dressing, there is a good possibility of the wave extending or even calling the correction to 2352 a W2. The Trend Average is back to bullish and there is plenty of room to rally for the next few weeks to substantially higher highs before the "Sell in May" event. The same people who made the market drop to and then bounce from the 50 DMA will be the same people selling at the peak around that time.

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 29

Prices have closed again above the Trend Average but there wasn't enough momentum to turn the trend bullish. Still, the pattern fits a W4 and we should see a higher high to complete the 5 count. Once we have the waves in place, we could be looking at an Inverse Head and Shoulders that will easily get past the all-time high at 2400.

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 28

Prices have rallied towards the Trend Average as expected and the close was right on it.  Given the sharp rally from yesterday's lows, it looks like there will be a 5 count on this wave so it might go as high as 2381 before completing the count. With that said, there are only 3 waves in place and the pattern count also be interpreted as an ABC with a sell off to come. But given the close on the TA and the fact that it's not May yet, I lean towards more upside before we see serious selling.

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 27

The market ended up testing the 50 DMA as I had been projecting since support at 2376 first broke. And with the low today at 2322, we now have a possible bottom and a base for a new leg of the rally. Obviously, it is imperative that prices do not go below 2322 again and prices must recapture the Trend Average. If the counter-rally finds resistance at the TA, then we can expect the correction to continue with lower lows to come.

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

Elliott Wave Stock Market Update - March 23

Prices made a lower low today and the 5 count posted has enough waves to be technically finished. However, there is still the possibility for more selling that will end up testing the 50 DMA currently at 2330. Once the selling is done, I expect a test of the Trend Average and it will be interesting to see if the rally will continue going forward or the TA will serve as resistance, which implies even lower lows. Personally, I am still hoping for a new rally to new highs before the "real" correction starts.

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

Elliott Wave Stock Market Update - March 23

The market attempted to rally early in the morning but gains were reversed by the end of the day. I am still expecting a lower low to finalize the 5 count posted and then we should see a rally to test the Trend Average. If prices are able to go above the TA and turnt he short term trend bullish, then we should see new highs in April. But if TA serves as resistance, then there will be more downside ahead to consolidate gains made in the last 5 months.

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