Elliott Wave Stock Market Update - August 10

The market continued to sell off today and now that support has broken, this sell-off could turn into the biggest correction this year. There is some support at 2439 but I think there is enough bearish momentum for prices to test the 2407 level before any significant bounce. In fact, I wouldn't mind going long as close as possible to at 2407 and set a short stop to play the counter-rally. My gold position is doing well and it looks like gold prices are headed towards 1300 sooner than I thought, so I am planning to get the most out of it.

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 - August 9

The market has counter-rallied today but it still ended up closing below the Trend Average, which has now turned bearish. However, until I see 2459 low cleared, I wouldn't assume a real correction is taking place. I think it will take actual military action against North Korea to really send the markets into a sell-off, so for now, the whole North Korea event is just being used as an excuse to lock in profit. I will keep the gold I just bought until the trend reverses or hits 1300, whichever comes first.

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 - August 8

The market broke out of the triangle to make new ATH as expected and managed to top and invalidate the most bullish set up towards the end of the session. While the trend continues to be bullish, the close was under the TA and a breach of support levels created by the triangle will confirm a bigger correction. I ended up buying back the gold I sold last week in case selling in equities gains traction.

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 - August 7

The market seems to have started to break out of its triangle pattern and we should get confirmation in the next session or two with follow through buying and higher highs. There is a high possibility of new ATH this week and only a move below 2473 would invalidate the pattern. I didn't get a chance to go long today because I was busy moving stuff but if the market opens down and above support, I will go long and use support as a stop.

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 4

The market has continued to trade sideways and a triangle pattern is now the most likely option. I expect a break out of the pattern next week but sometimes it can extend, so my assumption is new highs in the near future. I can't believe is August and the market has not given back any gains at all, not to mention that volatily is at a multi-decade low. Anyone who remembers the previous bull market peaks should see the obvious similarities 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 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 - August 3

The market didn't do much today other than close below the Trend Average, in itself, a bearish signal. However, given what I mentioned yesterday. as long as support continues to hold then there is a good chance the market will break to the upside. I was tempted to go long later in the day today but with the week coming to a close and the uncertainty about Trump (Russia investigation, China trade, etc), I figured is best to sit this one out.

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 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