Elliott Wave Stock Market Update - August 31

Prices have continued to rise and now there is a bullish cross on the daily MACD, which favors a challenge to all time highs in the near future unless reversed. We should see a pullback soon but it might end up a sideways move given how much bullish momentum the market is carrying. I think we can safely say the most recent correction is now over.

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 30

Prices have recaptured the TA and the 50 DMA and is now well positioned to start a rally towards ATH. A pullback in the next session or two could provide a good opportunity to go long, but I will see how the correction develops.

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 29

Prices plunged in pre-market after the latest North Korean missile launch but the market was able to recuperate from the selloff and counter-rally to erase all loses to close the session in positive territory. More importantly, the 2417 low was only tested in pre-market and this level held well. So I suspect the correction that started couple of weeks ago is coming closer to an end and prices will rally again towards ATH. We should get confirmation once the Trend Average and the 50 DMA is recaptured. With that said, if prices breach last week's lows, then the stabilization scenario would be invalidated.

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 - August 28

The market has continued to trade sideways and the count I had been following is either complete with a truncated 5th or incorrect. Prices have not been able to get past resistance and there will be pressure on prices to test the most recent low at 2417 or possibly 2407, if these support levels fail to hold then I think the 200 DMA will be given a visit.

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 25

Prices spiked at the open but gave up most gains by the end of the session. Arguably, the high made today could be a truncated 5th, unless we see follow follow through buying early next week to a higher high. The fact that prices closed below the 50 DMA and the trend continues to be bearish puts the market in a selling position. So, I ended up closing the rest of my longs and now I am back to cash again on my trading account. If selling continues next week, the levels to watch will be 2417 and 2407, where I might end up going long once again.

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 = 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 24

The market has continued to correct and time is running out for a 5th wave to complete the count. So, if the labels are correct on the chart, we have to see a rally tomorrow towards a higher high before we see a bigger pullback. Closings below the TA are not good sign for the bullish case, so a failure to recapture the trend will lead to lower lows, maybe even a test of the 200 DMA.

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 23

The market went into what seems like a W4 correction so far and prices should make a higher high soon to complete the 5 count from the 2417 bottom. Once complete, we could see the next correction bring down prices to close the gap left couple of days ago to possibly test 2430. If prices fail to hold at support, the we will see lower lows ahead. I raised my stop on my remaining longs to 2430 just in case the 5 count fails.

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