Elliott Wave Stock Market Update - May 31

Prices made a lower low today but the count remains the same and another high is expected before a bigger correction. If for some reason a new high doesn't come tomorrow, then the wave could truncate and go into selling mode early next week. I am tempted to add some shorts if we see a high tomorrow but we'll see. In the meantime, I sold the silver position and keeping gold only.

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 30

The market didn't do much today other than buy time, there should be another leg to challenge all-time highs before we see a stronger correction. Now that summer is here, I really will be surprised if we don't see a substantial pullback in the next few months. It's been now 8 years since the rally started, so even a bear market that lasted 2-4 years would not be out of the question after the market finally tops.

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 26

The market went into another sideways correction today, which will allow the market to make another ATH early next week in pre-market or during regular trading hours. A new high could be a good place to short but obviously, we have to see what pattern develops. I am enjoying my longs in metals and I hope they go up even more when the market finally tops.

Have a great long weekend! I am glad summer is almost here.

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 25

Prices broke out today to new ATH and could see even higher highs after a brief pullback. The 5% drop in oil did not matter and this point to strong bullish momentum. However, I continue to think this is a bag holder rally and significant change in sentiment should occur in the near future. I wouldn't be surprised if what we are seeing is the "head" of an H&S pattern.

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 24

The market made a record close today and looks like a new all-time high is coming as soon as tomorrow. The recent sell-off definitely had me fooled but the fact remains that seasonally speaking, this is about the worst time to go long. I did however close the shorts from yesterday at break even when the sideways correction became clear to me. I will make another attempt on the next bullish leg.

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 22

Prices reached the 2400 level today and with the close above the TA, the short term trend goes back to bullish again. I didn't think this would happen but there is no point in arguing with the market, it is what it is. But since the wave structure seems complete and the prices are so close to ATH resistance, I couldn't help but to short towards the close. I will see a tight stop and I will close at the pullback as there should be one coming in the next session or two.  If prices find support at 2380, there is a chance for a bullish breakout on an IHS.

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 22

The market continued its rally to a higher high today and was able to close above the Trend Average. I didn't think there would be enough momentum but I was wrong. Also, there is a 5 count in place from the low at 2352 and this opens the possibility of more upside and even new ATH if the TA turns bullish. With that said, I'd like to see what the bearish response will be in the next day or two as I continue to favor the possibility of an important market top around these levels.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

Have a great weekend!


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