Elliott Wave Stock Market Update - May 11

Prices dropped early in the morning but were able to bounce off the 2380 support level I mentioned couple of days ago. So far, it looks like momentum is waning but we need to see support break for a real correction to begin. Otherwise, we will see more highs ahead. It's tempting to short using the ATH as a stop but have to see a few more sessions.

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 - May 10

The market regained some of its losses from yesterday and is positioned to challenge all-time highs again tomorrow. However, if prices fail to reach a new nigh on this coming attempt, we could see a set up for the beginning of a correction with the current bounce wave being a B or a bearish W2. Whatever the case, I am staying clear of the market until I see a clear opportunity.

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 - May 9

Prices managed to make a marginally higher ATH but bullish momentum seems to be fading. The number to watch to confirm the beginning of a correction is 2380. A change in the TA, coupled with a break of 2380 would open the doors for a sell-off, with 2322 as the first target. I normally not bearish, but it is May and now that the target for the multi-year pattern is complete, a real correction could come in the next few weeks.

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 - May 8

The market finally reached a new all-time high as expected after bouncing around in the same range for over a week. But the count is complete and ready for a much bigger correction. Obviously, we could see a break-out to substantially higher highs before a bigger pullback but I personally prefer to be cautious around this time of year.

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 - May 5

Prices closed the week testing its all-time high at 2399 and absent of any surprise over the weekend, we should see a new ATH next week. Technically, the high today is enough to complete the count posted but we will see how much more upside there is next week. Ideally, a strong bullish move in the next few weeks to a substantially higher high would be perfect for a top before the summer. I can't believe we are already approaching 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 - May 4

Nothing really much to add today, other than this is getting boring! But again, let's see if traders will make up their minds tomorrow.

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 - May 3

The market made a marginally lower low today for the ongoing sideways correction and I am assuming we will see a break out of range sooner than later. I can't imagine the market continue to trade like this until close of the week. The count remains the same and we should see a new ATH once the bullish side 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 = 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