Elliott Wave Stock Market Update - April 18

Prices rose early morning to make a higher high but got stopped at resistance and reversed  for most of the day. The bottoming pattern still remains but recent lows should not be breached as that would mean more selling ahead. I meant to raise my stops to break even in the event of a bullish open but I got lazy. So now I am just hoping bulls can regain control in the next session or two.

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 trend being challenged

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 18

Prices retraced some of yesterday's gains and and there is now a bottoming pattern in place. I favor a higher high for the current bounce but the real test will come at the 2366 resistance level. I went long at 2342 and I am setting a tight stop just in case.

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 trend being challenged

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 17

The market managed to mount a decent counter-rally to test the declining Trend Average in today's session. If the TA is re-captured, the bulls have a decent chance of staging a good rally to top in May. But if prices can't get past resistance, then we will see further downside to come in the near future. I am going to be patient and jump back in once the market makes up its mind.

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 13

The market attempted to bounce earlier in the morning but bears took control after Trump dropped the mega-bomb in Afghanistan. The news was just basically an excuse to test the 2322 level mentioned a few days ago, so now we have to see of this level will hold or give way for a test of the next support level at 2300. I lucked out and managed to actually profit by selling my longs earlier in the morning and will be buying as close to 2322 tomorrow if I see a possibility for a bottom.

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 trend being challenged

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 12

The market has continued to struggle and it has closed under the 50 DMA for the first time since November 2016. If bulls fail to re-capture 2350 in the next few sessions, there will be substantial  downside in the next few weeks. I went long at 2343 with a stop at 2337, so we'll see if the market can reverse itself tomorrow.

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 11

Prices broke down as expected in today's session and went below the first level of support (2344) early in the morning. The bottom at 2337 might be re-visited again if prices are not able to get past 2363 on the current bounce. A break of 2337 should lead to a test of 2322 and that should be the lowest the market could go while being in generally bullish mode. I am still hoping for a market rally after the correction but it better get started soon or risk a much bigger correction.

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 10

Prices have continued to trade sideways but failure to gain bullish traction will likely lead to a test of 2344 or even 2322 in the next few sessions. Still, once the correction is over, we should see a rally to new all-time highs before any real selling takes place.

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