Elliott Wave Stock Market Update - January 23

The market made another ATH today and looks like it wants to pause to consolidate gains. Whether it will actually pullback or trade sideways given the current bullish momentum remains to be seen. Looking at the multi-week chart, this rally looks like part of a "blow off top". Which would allow for prices to go to 3000 in a matter of few weeks. The last time I saw this type of manic buying was in China in 2015.

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 - January 22

Prices broke out of the ascending triangle and the government shutdown resolution was used as the excuse to rally as I suspected. The only thing stopping this rally is the end of the count, the market is euphoric and seems to be pricing expected economic growth and increase in profits. Question is, how much longer can this go on as we haven't had a bear market in 9 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 - January 19

Prices closed the week at new all-time highs and looking at the pattern on the chart, it looks like there will be a breakout out of an ascending triangle next week. So labels will most likely have to change to accommodate this relentless rally. Not even the possibility of a government shutdown has been able to stop the bullish momentum and I suspect a resolution to the issue will only serve as an excuse to go much higher. I am completely missing out this rally but it's ok. Last night, my long portfolio got   within 1.2% of reaching my long term goal and it looks like it might overshoot as the rally in China seems to be just getting started. In 2012, I thought 2017 was going to be the year my portfolio would reach current levels. I was off but not by much and it goes to show that patience and focus does pay off in the end.

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 - January 18

The market took a break from the rally today but it looks like it might consolidate sideways before another leg to higher highs. If the government is shut down then we will have a better excuse to see a real correction but even then, there is so much momentum in the market that bulls might not even blink. I am leaving the labels as is until proven wrong.

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 - January 17

The market reached the 2800 level as expected and I am now tempted to label the IV wave to a II. If prices keep going up with strong momentum, it means the rally has ways to go before a true correction takes place. Too bad prices never retraced enough for me to add longs but it's all good, my China shares are going up a lot too so can't complain. I am 4% away from my retirement goal on my long only portfolio, this despite the fact prices in the Chinese index are nowhere near the high of 2015.

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 - January 12

The market has continued to climb higher to reach a new ATH and 2800 looks like a possibility in the next week or two. I was reading today that the market has not been this overbought in 20 years and its RSI reading is the second highest since 1928! Obviously, that doesn't mean the market will collapse but it gives us a perspective on the current mania. For me, this is time to start accumulating cash to deploy once we do get a bear market.  As Buffet says, be fearful when others are greedy.

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 - January 11

The market managed to close at another ATH and the bearish set up in place was invalidated with this new high. Bears just can't get a break in all of this mania and I am sure at this point the great majority have thrown in the towel. The "stronger" pullback the market felt couple of days ago could be a W2, but I am labeled it a W4 to be on the conservative side. If we see the market go up with the same momentum as in the beginning of the year, then prices are headed towards 2800s by the end of this month. I stopped out of my short position and looking for another opportunity.

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