Elliott Wave Stock Market Update - June 29

Prices fell below support today before bouncing back towards the end of the session. This breach of support solidifies the bearish downtrend and we could see an acceleration of the sell-off in the next few sessions. Unfortunately for me, I was super busy earlier in the day and I am now at Legoland so didn't get a chance to short. But I am happy with gold and maybe there will be another sucker rally 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 - June 28

Bulls mounted an aggressive counter-rally that threatens to reverse the newly formed downtrend. However, until the most recent lower high at 2350 is breached, the assumption is that the downtrend will continue. If the market keeps going up tomorrow, I will short and use 2350 as the stop, it'd be a low risk/high reward set up given how close prices are to what I have labeled as a W2.

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


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

Elliott Wave Stock Market Update - June 22

Prices finally decided to make a bearish move that could evolve into a much bigger correction. The close was at support and we could see a bounce off these levels, but if support breaks tomorrow, then we could see selling accelerate for the rest of this week. I didn't get chance to short but I increased my gold position, which normally does well during correction so we'll see.

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 - June 26

The market started the day strong by coming within a few points of making a new all-time high, however, prices headed down the rest of the day to close at slightly negative but still over the Trend Average. The close above the TA is good for the bullish side but the lower high is not, so it's important for prices to stay above the TA or else the trend will change this week and maybe even start a real correction!

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 23

The market attempted to rally again today but was stopped at resistance from yesterday's high at 2341. Unless prices are able to get past resistance next week, we might see a change in trend to finally start the real correction. It would miracle if the market kept climbing in the summer months but I've seen crazier things. Hoping I will get a chance to short again next week.

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 22

The market attempted tried to counter-rally today after couple of days of selling but ended the day flat. The close today is again below the TA but was not bearish enough to make a trend change. However, if prices struggle again tomorrow, then we should see the market start to rollover as the trend will go negative. I might try to short again if I see signs of weakness again.

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 21

The pullback continued today and went below the 2433.95 level I mentioned yesterday before bouncing somewhat to close the session just below the Trend Average. If there is more upside to this most recent bullish move, we should see it in the next few sessions. Otherwise. we might see prices make a bearish turn if the TA is not re-captured soon.

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