Elliott Wave Stock Market Update - April 7

The market closed basically flat for the day but now the Trend Average has turned bearish. There is not impulse so far to the downside, so there is still hope for a bullish move next week. However, it's best to be cautious now given geopolitical events. Military action in Syria has overshadowed the seemingly positive US-China summit, so it remains to be seen if there are any other surprises this weekend. No news will be good news IMO, but we will see.

Have a great weekend!

The market made a lower low today at 2344 and bounced substantially from that point for most of the day to close right on the Trend Average. If the count posted is correct, we should start seeing a W3 impulse in the next few sessions to new all-time highs. There is obviously room for lower prices, but I think a rally from this point on would be ideal for the "Sell in May" scenario. We'll find out soon.

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 - April 6

Prices counter-rallied somewhat today but not enough to close over the TA. Technically, the sell off from yesterday could be an ABC with a new 5 count starting today. But if there is a lower low tomorrow, then we will have 5 waves down from 2378, which could lead to more selling ahead. But with the US-China summit taking place, I think the outcome should lead to a rally as I am sure there will be "good news" for both sides.

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 - April 5

Prices started the day bullish by impulsing higher and taking out the most recent high at 2370. However, a sudden reversal came after the Fed announced they will start cutting back the $4.5 trillion balance sheet. In the general sense, it's a good thing since it shows confidence in the economy and will give room the the Feds in the future when the next recession hits. The stock market didn't like the news much but as long as support continues to hold, the path of less resistance is up. With that said, another close under the TA and we will likely see another test of the 50 DMA if not the 2322 low.

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 - April 4

The market closed marginally higher today after a minor correction early in the morning. The close continues to be above the TA and there is a small ascending triangle as well, so the pattern favors upside tomorrow that should challenge and probably exceed the recent high at 2370. Hard to say what will be the catalyst for the next market rally but maybe the US-China summit might be used as an excuse? Trump did a lot of China bashing during his campaign but has changed his tone lately about the subject, so maybe they will come out with something that looks "constructive" to everyone which is ultimately bullish for the markets.

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 - April 3

The market made a lower low today at 2344 and bounced substantially from that point for most of the day to close right on the Trend Average. If the count posted is correct, we should start seeing a W3 impulse in the next few sessions to new all-time highs. There is obviously room for lower prices, but I think a rally from this point on would be ideal for the "Sell in May" scenario. We'll find out soon.

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 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