Elliott Wave Stock Market Update - October 31

The market closed marginally lower today after counter-rallying earlier in the morning. Failure to make a higher high (2133) will lead to continued selling in the next few sessions. I am assuming the the short term bias will continue to be bearish until the elections are over given the ongoing uncertainty. My guess is the markets will sell off hard if Trump wins, rally to new highs if Hillary wins.

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 trend being challenged

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 - October 28

Support at 2130 broke as I had suspected it would so a test of 2100 is now likely given the H&S pattern. The sell off today is attributed to the Hillary's ongoing criminal investigation and it seems like the outcome of the elections will be the key catalyst going forward. I am assuming if Hillary win then the market goes for a new all time high for sure, if Trump wins then we will finally see the market roll over and the end of the wave structure that started in 2009. Many have written off Trump already, including myself when the tape came out. But the latest email inquiry brings Hillary down and Trump has a real chance of becoming the President.

It will be actually funny if "Carlos Danger" (Anthony's Weiner's nickname) brings down Hillary's campaign, considering how he managed to screw up his own political chances twice for being a pervert. 

http://www.nbcnewyork.com/news/local/FBI-Reopening-Investigation-Clinton-Server-Emails-399053001.html

I sold my longs and will be buying back at the test of support. 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 trend being challenged

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 - October 27

The market failed to rally today as I was hoping and instead ended the day testing what seems like the neckline of an H&S. Also, the TA has turned bearish as well so a break of 2130 will lead to a test of 2100. If support can hold the selling then the bullish case will still have a chance but it is not looking too promising given the ongoing pattern. I was busy today and didn't get a chance to exit my long position so I will remain skeptically hopeful.

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 trend being challenged

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 - October 26

Prices almost invalidated the bullish set up early in the morning by testing the 2130 level. However, the low was at 2131 and we should see a bullish wave as soon as tomorrow. The big question now is whether the coming wave is really a W3 or another zig zag wave that will not be able to get past 2160. If prices fail to get past resistance, I am going to assume the market is just waiting for the elections to be over to make its next substantial move as earnings (which have mostly surprised to the upside so far) are basically being ignored.

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 trend being challenged

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 - October 25

The market entered into a minor correction to test the Trend Average but managed to close above it. There could be some more downside left but as long as the bullish set up is not invalidated, the next bullish wave should challenge the 2160 area in the next session or two. The market just needs a good excuse to start the next bullish 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 trend being challenged

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 - October 24

Prices finally broke out of range and the bullish pattern continues to be favored. We could see a pullback in the short term but it can't go below 2130 as it would invalidate the bullish set up. If the market is able to recapture the 50 DMA at 2160 convincingly this week , we could see a challenge to all time highs fairly soon. I ended going long again at 2151.

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 trend being challenged

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 - October 21

Prices failed to break out as I was hoping and instead made a lower low. However, the pattern continues to be bullish since the low at 2124 could be counted as a W2 and the TA is still green. Maybe a catalyst will finally come early next week and move the market out of range. I ended closing my position at 2138 and will wait for another opportunity next week.

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 trend being challenged
Medium Term Trend = Bullish trend being challenged

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 - October 20

Prices opened down early morning but bounced around before settling right at the Trend Average level. If the market plans to break out it should happen tomorrow, otherwise we will see either 2124 or the 2114 low tested again. I almost stopped out but decided to hold because of the zig zag early in the morning. I guess the market didn't care much about the debate last night.

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 trend being challenged

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 - October 19

The market traded in the resistance area for most of the day and this managed to turn the Trend Average bullish. Prices might get past resistance tomorrow and go towards the 50 DMA if the market finds a good excuse to rally. Maybe the outcome of the debate tonight will be the catalyst but I think we should know by now what to expect. More BS from Hillary and more crazy talk from the Donald.

I went long right where I sold at 2144 and I am setting a short stop at 2138.

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 trend being challenged

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 - October 18

The market rallied towards resistance as I expected yesterday and closed right on the Trend Average. If the IHS pattern materializes we should see the rally continue tomorrow or Thursday towards the 50 DMA as mentioned yesterday. I ended up locking profits at the high today and will probably buy again on a test of today's low or the break out (assuming it's not too far from the neckline). Also, I will be launching my TW vs SP500 portfolio soon. Just looking for software that automates some of the tracking results.

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 trend being challenged

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 - October 17

Prices continued to correct for most of the session today but the pattern continues to look like an IHS. We could see a rally take place as soon as tomorrow as long as the low from last week doesn't get breached. I am expecting the 2145-2150 level to be challenged but we could also see prices reach the 50 DMA at 2163. I went long today at 2130 in hopes the market will stick to the IHS pattern.

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 trend being challenged

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 - October 14

The market was able to reverse the bearish set up mentioned yesterday and there is now hope for a bottom. The pattern printed today looks like an inverse head and shoulders and we could see prices rally back above the 50 DMA at 2165 next week. With that said, if the counter-rally fails to recapture the 50 DMA then this week's low is likely to be tested again. At this rate, maybe the market will make up its mind by the time the election is over. And not that it matters much since I think it's almost a given at this point that Hillary is going to win. Trump dug his own political grave with his motor mouth and his small hands. The GOP better get an electable candidate next time or else it will be 16 years of Obama/Clinton.

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 trend being challenged

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 - October 13

The market continued to sell off as I was suspecting to make a lower low at 2114. Prices rallied back to erase most of the losses for most of the day but the pattern continues to be bearish as there is bearish nested 1-2. If bulls can push prices past the 2145 level then the bearish set up will be invalidated, if not then there is more selling ahead.

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 trend being challenged

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 - October 12

The market bounced as expected from oversold conditions but found resistance at previous support in the 2145 area. The bounce was a zig zag and the bearish set up for a strong wave down is in place. In fact shorting at these levels with 2145 as a stop looks tempting. But since support has not broken, it's probably best to continue to be cautious as the market is reaching a sink or swim moment.

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 trend being challenged

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 - October 11

The market finally broke out of range and it was to the downside. The bottom today was 2128 and it is extremely important for bulls to hold the 2120 support level. If prices break before support then the rising 200 DMA at 2067 is likely to be tested fairly soon. As I said couple of weeks ago, it's best to be cautious until a clear pattern appears.

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 trend being challenged

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 - October 10

Prices closed the gap from last week early in the morning by reaching 2169 before fading the rest of the day to settle just below the 50 DMA.  The close was above the Trend Average but resistance needs to be cleared for bullish momentum to gain traction. Maybe traders are in wait and see mode to see who is going to win the election? either way, we will likely see a recession soon so it's not going to make much of a difference who wins.

I got the chance to hear the debate last night and it was good Jerry Springer material. Trump was subdued during the first debate but he was at his "best" last night by constantly attacking Clinton and bringing American politics to a new low. I still can't believe Trump is the GOP nominee, out of all the people that could have gotten the  nomination and easily won this election, the party chose this guy.  Now, to be be fair, Trump respects women as much as Bill Clinton. The issue is Trump's motor mouth got caught on tape and it seems unthinkable to me that majority of the electorate is going to give him another pass. At this point, I just hope it won't be Hillary again in 4 years.

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 trend being challenged

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 - October 7

The market tested 2140-45 support and staged a rebound for the 4th time in 2 weeks. It's basically the same song and dance until prices manage to break out or break down. The longer these sideway moves occur under the 50 DMA, the more bearish I am becoming. So at this point I am not sure if the market will be able to make much higher highs because of the lack of bullish conviction. As I said a couple of weeks ago, it's time to be cautious.

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 trend being challenged

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 - October 6

The market experienced some selling early in the morning only to rally back and end the day flat. Continued sideways trading should be expected until a clean break out/break down occurs. Until then, I will be waiting on the sidelines to avoid any surprises.

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 - October 5

The market mounted a counter-rally today but was not able to overcome resistance at the 2165 level. The market is basically stuck in this range and could continue for quite some time until a good excuse is found to continue the rally or to sell off and call the 2193 a top. Personally, I hope the top will be a bit higher so the fall can be harder. I will be accumulating cash and staying on the sidelines in the meantime unless I see a good short term trade set up.

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 - October 4

The market experienced more selling today and the bullish set up mentioned yesterday was eliminated. So the correction continues and it has now been almost 2 months since the 2193 high was made. While the general bias is still bullish, the TA turned bearish today and now I am even more cautious about trading on the long side.

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 - October 3

The market corrected today and found support at the 2155 level. This correction sets up sets the market up for a potential bullish break out if today's low at 2154 holds any further corrections. However, if bullish momentum stalls at resistance in the 2175-2180 level again then we might see an ascending triangle form the rest of the 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 into consideration other factors.