Elliott Wave Stock Market Update - November 25

Not much to add today since the market barely moved. Seems like most people are taking a break so we might not see anything meaningful until the long weekend is over. I have to get ready for my trip this Saturday and won't be updating on Friday unless there is a significant move. I will be in HK and China next week sourcing some products but I should be able to update frequently.

Have a safe and happy holiday!

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 24

A lower low was made earlier today after news of the downing of Russian Jets in Syria but the market bounced to close above the TA. It seems the market is planning to finish the count posted, so I am assuming a higher high soon that could possibly challenge the most recent high at 2116. Seasonally speaking, the bias should be bullish around Thanksgiving but we should also account for the ongoing Geo-political risks this year. I bought back my long position towards the end of the day since the stop is clear (W4 low), so hopefully we'll see 2116 tested.

Going forward, I'll probably be more cautious than usual mainly because of political events. The State Dept is issuing a travel alert but I hope everything will be ok. I am going to Asia this weekend and I am supposed to be mindful of the people around me but yet one is not supposed to profile anyone (isn't that a really stupid PC contradiction?). I just hope I don't get any terrorist looking individuals around me, I am going to stab them in the neck with my pen at the first sign of jihad.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 23

The market went into a correction today after topping on Friday at 2096. It's not clear if the impulse from the 2019 is complete, but I am labeling the low today as a W4 in expectation of a higher high before a bigger pull back. I ended up selling my long position in the 2090's and I am planning to buy back the short position I sold weeks ago if a W5 materializes.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 20

The market has continued to rally as expected but if W3 sub-divides, we will see lower prices early next week before a resumption of the rally. I think the market has already priced a rate hike and if oil stabilizes, bullish momentum will gather strength.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 19

The short term trend has turned bullish with today's close and we should see the market continue higher on a W3. Whether the W3 sub-divides is anyone's guess but we should see a push towards the most recent high at 2116. Maybe even the all time high set in May will finally be taken out in the next few weeks.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 18

The 2068 resistance level was broken easily today and this move confirms the move from 2116 to 2019 as an ABC correction. There is the possibility for another zig zag to test the 1990-2020 area again but if a bullish W3 is confirmed in the next few sessions, then we are looking at new all time highs. I am raising my stop on my longs to the W2 low, so a good trade already even if the bullish W3 doesn't materialize.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 17

The market tested the Trend Average and the 2068 resistance level early today but fell short on confirming the beginning of a sustained rally. I assume the wave from 2019 to 2066 will continue to correct before resuming the rally. However,if the market ends up selling off in the next couple of sessions to a lower low then the 1990 level will likely be tested. I raised my stops on my longs to break even, so hopefully my stop won't trigger.


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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 16

The market bounced right off the 2020 support level in a very bullish day. And as I mentioned last week, one could argue for an ABC move from the 2016 top and a rally past 2068 will confirm this. In an ideal world, the market would continue to correct and test today's low again after this rally exhausts. But considering my target area for the correction (1990-2020) has already been reached, the market is free to continue to rally without pulling back.

I assumed the tragedy in Paris would affect sentiment but I guess the market is moving on. This mess in the Middle East will continue to linger until we just leave the entire place or go back in there and annihilate the terrorists. This war from the air is not doing much unfortunately and Obama is basically clueless (not that this mess is primarily his fault). Too bad we can't just drop a nuke and get rid of them once in for all.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 13

The market went right through the 2039 market support early morning and ended the day near the next support level in the 2020 area. I am not ready to label the waves until I see what the market does on Monday but one could argue for a completed ABC from the 2016 top. However, if selling accelerates on Monday breaking below 2000 then the wave today is part of a bearish W3. And again, the selling should not come as a surprise after a 12%+ rally in 5 weeks. If selling gets out of control the we'll evaluate the bearish options.

I was originally hoping to short but since selling ended near support, I had to go long towards the end of the day to play the bounce.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 12

The market has likely topped at 2116 for its Int W1 given with today's decisively bearish close. I had been hoping for a 5th wave to complete at a higher high but chances now look dim. Looking at possible retrace areas for the wave from 1871 to 2116, I like the 1990-2020 area as possible bottoms but a counter-rally is expected if the 2039 support level holds. A good correction would set up the market for a strong rally towards the end of this month or early December. The current excuses for sell off have been lower oil prices (which is ultimately bullish imo) and the interest rate hike, which in itself is historically bullish in the short term for the stock market. So my guess is the market will close the year with a new ATH. But for now I will be looking to short on a bounce to the Trend Average.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 11

I was under the impression the markets were going to be closed today because of Veteran's Day but I guess not. Anyway, the W5 impulse I've been anticipating has yet to materialize and the count is running out of time. So unless the market stages a strong rally in the next couple of days, chances are the top for the wave structure from 1871 is in. Confirmation should come in the break of this week's low at 2068. This has been a long rally and a substantial correction should be expected but it would be nicer if the count completed so I could short it at the top.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 10

The market tested yesterday's low early morning but ended putting in a higher low, which supports further upside after the holiday in a W5. However, we have to keep in mind the trend average has turned bearish and and a break of yesterday's low could confirm the end of the wave from 1871. I think the ideal scenario would be a push towards the ATH and then a substantial correction to set the market up for a strong rally towards the end of the year.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 9

I was wrong in assuming the correction was over on Friday and today we saw the correction continue by putting in a lower low. Still, the wave count doesn't change as the waves look like a double zig zag. Therefore, if today's low holds, there is a good chance a rally will gain traction in the next session or two. With that said, If the market fails to re-capture the Trend Average then there is a higher chance the rally from 1871 is finally over after 5 weeks of almost non-stop rallying.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 6

The 2080 resistance ended up being tested after all with today's early morning "sell off". And we should see a rally starting early next week to a higher high and perhaps even challenge the all time high. The jobs report blew past expectations, so the worry is mainly a rate hike in December which in my opinion is already priced in. In fact, once a rate hike is announced, the excuse of using a rate hike as a reason for selling will no longer be there and should lead to an environment for a sustained uptrend to 2,200+ this or next year. And as I have been saying for years, there will be a "bear market" eventually when we finally get a recession. Until then, it's better to accept and recognize the ongoing bull market and the strength of the economy as manifested in our unemployment numbers and GDP growth.

China continues to show signs of strength as well, so I am hoping for another "bubble" rally towards the end of the year. Maybe then I can start to ca$h in.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 5

The market made a lower low and tested the Trend Average as I had anticipated but it failed to go to the 2080's area as I had been hoping. This correction was expected to be shallow so we could see the market start a  rally tomorrow in its final 5th wave to challenge the all time high. I'm assuming the jobs report will be the excuse for a rally and at this point it won't really matter if it's good or bad, momentum is on the bulls side. I ended up stopping out of my short at break even on the market reversal, so I'll give it another shot near the all time high.

Also, China confirmed its bottom (and my count) yesterday by going above an important resistance level and that takes away one of the excuses for the market sell off here in the US in the summer.  I am starting to see headlines on a new "China bull market" because of its 20% rise but that's as useful as calling the correction from its high a "bear market". What I am paying attention to is continued confirmation of a W3 that will put the SSEC above its high this year.

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 = Bearish trend being challenged

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 4

The market continued its correction today by putting in a lower low at 2096. I am expecting the rising Trend Average to be tested, so one more down wave to the 2080 area would be ideal. Not sure yet if that will the low for W4 since corrections were expected to be shallow once the market broke its 200 DMA almost two weeks ago. But I will cover my short position at that level hopefully and buy it back at an all time high challenge or maybe a new all time high.

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 = Bearish trend being challenged

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 3

The market push through 2103 but it seems to have stalled at the 2015 resistance. The wave structure looks over-extended as it is so a proper fib correction should be coming. Also, oscillators are overbought in the short term so we could see the correction accelerate tomorrow. Now, if bulls manage to get though 2015 then we are looking at a possible new all time high before any significant pullback.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

Elliott Wave Stock Market Update - November 2

I wasn't sure the market could get up to 2100 on Friday but it managed to close slightly above resistance at 2104. As I said last week, I'd be surprised if there is enough bullish momentum to get through resistance levels between 2103-2134 but then again who could have imagined the market would rally this much in 4 weeks? I bought back my shorts today at 2101 and I'm setting the stop at 2015. If the market gets past 2015, there is a high chance for an all time high as this is a W3.

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 = Bearish trend being challenged 

* 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 into consideration other factors.