Elliott Wave Stock Market Update - September 30

The market managed to rally towards resistance (2175-2180) and ended topping at 2175 before giving up some gains. I see a completed micro-5 count from the 2145 low and this reinforces the short term bullish trend. Still, prices need to close above the 50 DMA at 2168 and clear overhead resistance for the market to go substantially higher in a new multi-week rally. Considering the election time frame and the holidays, the ideal would be a rally in the next few weeks. But considering there are now 5 waves from the 2009 low, it's best to be cautious whenever the market dips below the 50 DMA.


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 into consideration other factors.

Elliott Wave Stock Market Update - September 29

The market had a bad day today and it is barely hanging to its now weakened bullish bias. In fact, the lower high made yesterday is showing signs of a top. So unless we see a convincing rally that is able to clear resistance, we will see lower lows in the next week or two. It would be good to see a rally to new highs but it is time for caution as the market is showing signs of stalled momentum.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 28

The market sold off earlier in the morning but a bottom was found at 2151 and the market managed to rally past resistance. The market is bullish but I will be more confident in continued upside once 2180 is cleared in a 5 wave count impulse.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 26

The market counter-rallied today and hit resistance in the 2160 area. The bias, as I said yesterday, continues to be bullish but unless prices manage to start a meaningful rally in the next few sessions then the trend will turn bearish. The market could be consolidating for the last few legs of the rally that started in 2009 or could be in the process of going south. One thing that Trump said last night that was actually true is the fact that once interest start to rise then inflated prices will pop. The Fed might be holding rates low at this point for political reasons and once the election is over we might see the start of the next recession. I ended up selling today at resistance and will get back in once I see something more clear.


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 into consideration other factors.

Elliott Wave Stock Market Update - September 26

The selling today invalidated the micro-5 count I was following and now we have to see if support holds again to launch another attempt at all time highs. The general bias continues to be bullish but less so than last week as we need to see another 5 count develop for the market to regain bullish momentum.

Anyway, I am going to get some pop corn and watch the debate tonight. I wonder what Trump is going to come up with tonight as I'm sure he is going to be like a pit bull on Hilary.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 23

The market corrected as expected on what should be a micro W4 and we should see a higher high earlier next week to complete the 5 count from the 2119 low. If W5 ends up being the same length as W1, we will see the all time high challenged before another correction takes place.

I am looking forward to the Trump-Clinton debate on Monday. I won't be voting for either of them as I don't like them. But Trump might just pull ahead on Monday if he can get to Clinton, he is good at finding weaknesses and at bullying so this will be his stage. It's going to be an entertaining debate for sure.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 22

The market continued its break out today and the close turns the Trend Average bullish again while confirming the triple bottom at 2119. Assuming what we saw today was the micro-w3, we could see an all time high in the next few sessions. The NASDAQ actually made an all time high yesterday and another today so bulls are now back in charge. I am planning to sell the longs I've been holding when the count completes.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 21

Prices finally moved out of range as expected and the close was substantially above the Trend Average. If the market is able to follow through on today's rally in the next few sessions then we can assume the triple bottom is in place, specially when the 50 DMA at 2168 is recaptured. The Obama administration is on track for being one of the best ever for the stock market. The question now is who is going to get the blame for the next stock market correction/crash. And not that they deserve the blame but we all know most people are going to blame the next President.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 20

The market has been stuck in a sideways range for more than a week but should see a break out or break down in the next few sessions. If bears are able to gain momentum, we might see strong selling that will take the market down to 2085. However, if the Trend Average is recaptured then there is a good chance the bottom is in place.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 19

Prices rallied early in the morning to test the TA but reversed course for the rest of the rest of the day. Unless the market is able to rally past 2163 in the next few sessions, the 2119 lows are going to be tested again for the fourth time. The market is undecided and needs an excuse for the next substantial move. The Feds have to raise rates sooner or later but given Obama's luck, we might see rates rise only after the elections. Once rates start to rise we should see a recession within a year or two and then we will find out the consequences of keeping rates so low for so long. My guess is we will see a big correction in all asset classes, specially equities and real estate.


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 into consideration other factors.

 

Elliott Wave Stock Market Update - September 16

The market went into a minor correction and yesterday's lows have a good chance of holding if we see a bullish Monday. The real test again for the bullish case will be recapture the 50 DMA and the TA next week. Failure to turn the short term bullish bias will end up in more selling.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

Have a great weekend!



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 into consideration other factors.

Elliott Wave Stock Market Update - September 15

The market managed to put in a fairly recent rally today and we should find out if the selling is over on the coming correction. If the 2119.90 low is respected then we will see a rally to at least the 50 DMA or the Trend Average in the next few sessions. In fact, adding longs on the retrace and using support as stop looks tempting.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 14

The market ended up testing 2120 again and unless we see a strong rally tomorrow, lower prices are coming soon. But like I said yesterday, given how long the correction has been in place, chances are an important bottom is coming fairly soon before another big rally.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 13

The correction has continued as expected but the retrace today was far more than I had anticipated. The low today at 2120 is marginally higher than yesterday's low so this could be a double bottom if this support level continues to hold. Considering the market has been in a correction for over a month, I wouldn't be surprised if we see a sustainable rally in the next week or two. But first, the TA needs to be recaptured for the market to stabilize. 

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 into consideration other factors.

Elliott Wave Stock Market Update - September 12

The market staged a fairly strong bounce today as expected but the real challenge will be re-capturing the Trend Average currently at 2170. So until the short term trend is back to bullish again, my assumption is the correction  is not over. I am holding on to the long position and will sell at the test of the TA.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 9

Prices plunged unexpectedly today closing at a level not seen since early July. I was hoping to see a strong move to the upside to finish up the impulse from the Brexit lows but bulls ran out of steam. So at least we know now that the entire structure is over and we can start preparing for the bottom of what would be the W2 of W3 of LTW5 or the beginning of a true bear market. The key markers to look for are 1991 and 1810. I'll chart a longer term count next week to illustrate where I think we are at. Personally, I would welcome a true bear market that would see prices retrace 50% of gains since 2009 but if the LTW5 sub-divides then 2335 will be the top more or less before the real plunge takes place (and yes a big bear market is coming fairly soon).

I stopped out earlier in the morning and bought back at 2134. I'm guessing there will be a counter-rally next week to the TA. Finally, some excitement!!

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 into consideration other factors.

Elliott Wave Stock Market Update - September 8

Prices failed to rally today and instead continued its sideways correction. We should see the start of a new bullish leg tomorrow going by short term oscillators but we also could see the correction going into next week if bulls can't make up their minds.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 7

Prices went into a correction after hitting a slightly higher high in the morning and we could see a rally towards the all time high as soon as tomorrow. A strong opening could lead to the start of a multi-week bullish run. The market just needs an excuse to start this new leg.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 6

The market was able to make a higher high today after a somewhat bearish opening and with today's close the Trend Average turns bullish again. We could see a correction in the near term to test or even close Friday's gap but now the bias favors continued upside and possibly new all time highs as soon as this or next week. I ended going back long again at the end of the day so we'll see if prices finally go over 2200. It's been a grueling summer for bears and fall will probably not be any better.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 2

Prices rallied substantially today early morning and managed to hold on to most of the gains by the end of the day. If the rally continues next week to a higher high then we will have a new 5 micro-count and perhaps the first leg of the 5th wave we have been anticipating for weeks. I am planning to go back long if the TA turns bullish again. Just need to find a good entry point.

Have a great long weekend! Can't believe summer is coming to an end already.

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 into consideration other factors.

Elliott Wave Stock Market Update - September 1

The market continued to sell off and made a slightly lower low before bouncing back towards the end of the day. If this is a W4 correction then it should be coming to an end fairly soon since oscillators have been resetting. I am looking for signs of a bottom or a tradeable set up to go back long again.

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 into consideration other factors.