Elliott Wave Stock Market Update - October 13

The market made another new ATH today, the third consecutive marginally higher high. But now a rising wedge has formed, which points to a correction coming if the lower trend line is broken. Looking the waves, the count that started at 2417 in August would look best if we had a proper intermediate W4 correction and then another push to another high. So, the coming pullback will either be a shallow one (W4) or a substantial sell-off from a significant top. I am raising my stop on gold to above break-even and I am sure it will continue to rise if I am right on the correction.

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 - October 12

The market managed to make another marginal higher ATH today and if a bigger impulse is to come, 2541 can not be breached on a pullback in the next few days. If support is not breached, then we should see buying accelerate and push the index towards the 2560-2570 level. Given the high at 2555 and the original target I mentioned exactly a month ago being 2560, the market could be done with the entire structure since there are enough waves in place. My gold has done well and should continue much higher if we see a bigger correction in equities in the next few days.

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 - October 11

The market made a new ATH by 1 cent and the advance could continue tomorrow to higher highs. The current wave structure that started at 2488 is nearing its completion with the current 5th wave and a stronger pullback should come once the count is finished.

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 - October 10

The market seems to have finished its sideways correction and we could see a push towards new ATH as soon as tomorrow. The alternative is more consolidation but I think enough time has passed for another push tomorrow. I went long gold yesterday right after I finished updating, so I am looking forward to some volatility this or next week.

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 - October 9

The market seems to be correcting in a W4 and we should see a new push towards a new high if the zig zag pattern is finished. It's also worth noting that gold seems to have put in a bottom, which would coincide with a coming top for the current wave and a spike in volatility. I might go long gold and silver tomorrow.

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 - October 6

The market experienced its strongest "correction" in over a week by retreating less than 10 points before rallying back towards the top at the end of the session. The jobs report was on the disappointing side and that served as the excuse but this won't be stopping the market from going to higher highs next week. Perhaps, we might see some sideways trading to consolidate gains but a push towards the 2560 level seems reasonable. And only then, after the 5 waves are in, we will see a real correction. What will be the excuse then will be anyone's guess as major events have been ignored or the last few weeks.

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 - October 5

Several weeks ago I posted:

" If the labels on the count are correct, the target for the 5 count is 2560 before another significant correction. "

It's been now almost one month and today prices came within a few points of reaching the target. The SP500 has posted 8 consecutive winning sessions, the longest streak in 4 years and I won't be surprised if the madness continues given the current environment.

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