Elliott Wave Stock Market Update - August 2

The marker gapped up early morning and attempted to sell off, only to find support at 2466 before rallying back to a positive close. While the bearish set up for a bigger correction remains, the fact that support has held so well sends a signal of a sideways correction. And unless lower lows are not made soon, there will be enough of a time correction to allow prices to reach the 2500 level. Given this possibility, I closed my short position at a minor loss at the TA and locked in all my gold gains. I'll give gold and shorts another in the near future, in the meantime,  I might have to join the bullish crowd temporarely.

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 - August 1

Prices challenged resistance again today but ended up closing below it. Despite the close above the TA, the same bearish pattern remains and the market remains vulnerable to selling in the next few sessions. The only way to invalidate the bearish set up would be a breach of 2484. I am keeping my short position until the market proves me wrong (or right, to lock in profits).

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 - July 31

The market had a bullish opening today but ended up closing the day slightly negative. The pattern today sets up the market for stronger selling tomorrow, so as long as prices stay under the Trend Average, we should see recent lows tested if not broken. I think the White House staffing issues is enough of an excuse to sell so we'll see if sentiment will turn tomorrow.

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 - July 28

The market attempted to bounce today after yesterday's "sell off" but ended the day slightly down and just a hair below the Trend Average. Short term oscillators point to higher prices on Monday but if bullish strength fails to materialize, we will see yesterday's low at 2359 challenged and possibly give way to lower lows earlier in the week. I am holding my short position but staying vigilant in case support holds. It's actually interesting all the political drama hasn't affected the market at all, politics has turned into a reality show with all the infighting, firings, resignations, tweeting, etc. I just hope tax reform gets done but I am not too hopeful at the moment. I can't believe Republicans, who control both houses were not able to even modify Obamacare, much less repeal it. If they fail at tax reform, they need to be out ASAP because they are not doing anything. That includes Trump obviously who has done nothing but tweet in the last 6 months. He is still talking about Clinton and Obama as if people care(specially under-voting age Boy Scouts) at this point.

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 - July 26

Prices made another all-time high at the opening today but gave up all its gains to break support at 2465 before rallying back to close the day even. The close was still over the Trend Average but the break of what I have labeled as a W4 favors the beginning of a correction. To confirm the market will start a deeper pullback and not just consolidate to rally again, we need to see the closes below the TA in the next session or two. I initiated shorts at 2468 and using a relative short stop for the position in case bag holders come back in force.

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 - July 26

Prices went into consolidation mode today and unless prices go below 2465, there will be new all-time highs coming again. If the next bullish wave turns out to be exceptionally strong, we won't see a top until a 5 count is completed for the 5th leg of this rally that started at 2407. I am out of the market for now but at least I am enjoying my gold longs.

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 - July 25

Prices reached another ATH today after technically going into a correction for a few days. The sideways move aligns better with a W4, so I am going to assume the previous top was part of the W3 and now the last leg of the structure is taking place. Nothing is bringing down this market, not summer, not Trump. But euphoria will eventually run its course sooner than later.

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