Elliott Wave Stock Market Update - June 20

The market gave up most of yesterday's gain and ended the day right on the TA. There could still be one more leg up to another high if 2433.95 doesn't get breached. But if support breaks, then the correction will have bearish potential. I ended up exiting my shorts towards the end of the day

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 = 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 - June 19

The market gapped up today in a bullish W3 wave and this move invalidates the bearish pattern that had been in place. I know the economy is good now, my business has been doing great. However, everything is cyclical when it comes to the economy and the stock market. So, I continue to expect a bigger correction once the bulls come to their senses. I didn't get a chance to stop out of my short position today but I will exit tomorrow or on the pullback.

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 - June 16

I went to Legoland again earlier today, so didn't get a chance to update. However, not much happened and the expectation is the same as yesterday. Prices closed again under the Trend Average, but it was not much below, so the TA remains challenged but not bearish just yet. If we see a strong bearish wave on Monday, it will likely be a W3. Until then, I am going to assume resistance will be tested again but not ATHs.

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 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 - June 15

The market gapped down today to test last week's low but it ended up making a higher low before rallying for most of the day. Today's close is the second below the Trend Average in over a month and we would need to sell follow through selling to confirm a change of trend. Also, it's worth noting there is a bearish cross on the daily MACD, which normally points to a bigger bearish wave coming. Once last week's low breaks decisively, the top at 2446 will be confirmed. If for some reason, bullish maniacs/bag holders manage to make a higher high, then there will be room for one more push higher.

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 = 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 - June 14

Prices continued to climb today but stopped short of making a new ATH. There was increased volatility due to the announcement of interest rate hikes, but the bigger story is the potential market rollover in the next few sessions. I am assuming, the top is already in. So a substantial sell-off that breaks the low made last week would confirm it. However, if prices manage to make new ATH, then the bearish pattern will be negated. I don't see how the market could keep rallying but I have been wrong before, so we'll see.

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 = 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 - June 13

The market continued to bounce today as expected but ended the day right at resistance. We could see  more upside but I don't think the ATH will be taken out, we will see. I continue to hold to the short position but will prepare to exit if I am wrong on the market topping around these levels. I normally never short a bullish trend but I have to short any potential topping patterns, considering there is a good chance of a big pullback.

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 - June 12

The market opened in negative territory today but was able to stage a rebound that should continue tomorrow and maybe even Wednesday. However, there is a good chance the market is rolling over and a break of 2415 will confirm this. For now, I remain short and looking to adjust my stop to the TA once prices go underneath it.

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