Elliott Wave Stock Market Update - October 31

Prices closed barely positive today despite the new ATH in the Nasdaq. And with the announcement of the proposed tax reform bill coming soon, bulls could use the excuse to push the index much higher. Perhaps even break 2600 for the first time ever.

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 30

The market went into a correction today, which is not all that unexpected given how overbought the market was at the end of last week. And I presume once gains are consolidated, the rally will continue towards higher highs. The unveiling of the details for tax reform on Wednesday should give stocks a reason to resume the rally. As a business owner, I hope tax cuts for pass-through entities will be as good as I have been reading. That would save me a lot of money in the next few years.

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 27

Just when I thought he market was ready for a fall, the bulls pull one out of its hat and made another new ATH. This price action again invalidates the potential bearish count I was looking for and instead offers the possibility of a continued rally or a "megaphone top" pattern. For now, the most reliable indicator has been the short-term trend so we are back to expecting higher highs as long as the trend is bullish. Good thing I am not short this thing!

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 26

The market continued to bounce today but the price pattern remains the same. Also, this is the second close under the TA and we could see the TA finally turn bearish as soon as tomorrow. The bias leans to the downside but needs to be confirmed with a break of yesterday's low.

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 - October 25

A miracle! prices have closed below the Trend Average for the first time in a month. Also, today's low invalidates the bullish set up that had been in place and we could see a change in the short-term trend as soon as this week. Bulls would have to make a new ATH to invalidate the potential bearish count in place, which might be difficult given how steep the initial fall was today.

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 - October 24

The market finally "took a break" today but still managed to close the day slightly positive. The assumption if prices will continue higher as long as the TA supports it or until we see a possible topping pattern in place. So far the market looks unstoppable but things can change at any moment. The dissenting Republican senators are a cause for worry for tax reform as the slight majority the GOP enjoys is being negated by Trump's constant bickery with them. If this fails to pass, it will be all his fault for making everything so personal and behaving like a 3 year old. I knew he was going to be bad given his ego but this has reached ridiculous levels.

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 23

The market made another ATH earlier today before selling off the rest of the session. Still, prices did not even test the rising TA, so unless there is a big sell-off in the next session or two, the trend supports more upside in the near future. With all the talk about tax reform, the fuel is there for more upside. However, as I have been saying, the top for this bull market is coming sooner than later and is time to be prepared. Personally, I hope Trump gets the tax reform passed (that is the only thing I like about his Presidency) so I can save more of my hard earned money.

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