Elliott Wave Stock Market Update - November 30

The market has finally closed under the Trend Average for the first time in almost a month. Prices tested the 2198 level but failed to make a lower low, but if prices go below support then we should see a bigger pullback ahead. If prices are able to regain its footing tomorrow, then the target at 2220 remains in place. The market could use a break for couple of weeks, so we'll see if the bigger correction comes.


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 - November 29

The market technically continued its correction today but it might be over tomorrow if the 2198 low doesn't break. There is a small Head and Shoulders pattern that targets 2220, so we could another new all time high in the next couple of days. The same market that was panicking on election night is now ecstatic about Trump.

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 - November 28

The market is taking a break and perhaps we will finally see the Trend Average tested, which is at 2195. I can see this wave continue to make higher highs if the TA holds the correction. Maybe the coming interest hike will serve as a better excuse for a bigger correction to set up the market for a Santa Rally?

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 - November 25

Another day, another all time high. There is simply no sign of stopping this rally in the near future. The only bearish factor is the market being oversold and the waves being stretched on an extended 5th. Maybe there will be some news next week that can be used by traders to correct the market. Maybe it will be the recount being sought by the Green Party?

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 - November 23

The market almost made a new all time high again today but fell just marginally short. My guess is new highs will continue as long as the short term trend remains bullish. Technically there are enough waves to start a correction but the current bullish wave could be extending and take its sweet time before a big pullback.

Happy Thanksgiving!

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 - November 22

Another day, another all time high. The Trump rally continues and for the first time we have a close over 2,200. It seems like it wasn't all that long ago when the market was at 1,000. I did a wave calculation for the top of the market a few months ago when 2135 broke and if I remember correctly it was about 2,400 or an 8% upside from current levels. So maybe this market will continue to rally well into next year and finally find a top sometime in 2017. I just hope I have time to save some more cash to prepare for the next bear market. I missed the bottom in 2009 but I am definitely not missing it on the next one.

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 - November 21

I thought the market was ready for a break but I was wrong, prices decided to make an new all time high. This should not come as a surprise as it was a question of when and not if. We could see prices stage a break out this week to 2200+ but I still think it would be better for the Trend Average to be tested first before the next bullish leg. And so much for a Trump crash, the market wants to go up and the only thing stopping this bull market will be a recession.

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 - November 18

Prices came within 4 points of a new all time high but just could not get past resistance. The market could use a break at this point and correcting back to the 2150 level would be a reasonable price correction. However, as I said yesterday, the market could enter into a sideways correction instead and bounce around the 2170-2190 area before another bullish leg materializes. Now that the elections are over, the next major catalyst for the market will be the holidays and earning prospects in January.

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 - November 17

Prices made an higher high today and it's enough to call the wave from 2083 over. However, prices are so close to all time highs that it would be ideal if we saw this level challenged before the next correction. The Trend Average is now at 2163 and we could see a time correction instead of a price correction in the next week or so since the TA is catching up to the market fast.

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 - November 16

Prices failed to make a higher high today in the cash market but they technically did already in pre-market, so we could see a correction starting soon. If we ignore the higher high in pre-market, there is still room for upside and a new all time highs in the next few sessions. At this point I think it is a question of when and not if.

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

Elliott Wave Stock Market Update - November 15

I am posting late today because I spent the whole day at Disney's California Adventures, great place to take the kids. Anyway, the market is following the 5 count posted and I expect a higher high to complete the structure and then a correction to test the rising Trend Average. If bulls can gather momentum tomorrow, we might see a new all time high before the end 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 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

Elliott Wave Stock Market Update - November 14

The market seems to be consolidating in a W4 and unless there are lower lows tomorrow, we should see another rally to challenge all time highs. The DJIA made another all time high today so in time the broader market will very likely do the same. For now, I am just being patient and waiting for a test of the TA to go long.

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

Elliott Wave Stock Market Update - November 11

The market has continued its correction but has not been able to break support at 2150. If support breaks on Monday, we should see the TA tested. However, if it stays intact then we should see another higher high coming next week. Now that the elections are over, traders can finally focus on other things.

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 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

Elliott Wave Stock Market Update - November 10

The market got close to its all time high today but reversed as expected and should see a minor correction coming soon. However, I should note the DJIA has made an all time high and much higher highs are likely. I won't be surprised if all major indexes stage a major rally to substantially new highs in the next few weeks.

I incorrectly assumed the markets would not be able to tolerate a Trump presidency given the signs prior to the elections. And the market did panic for a few hours by crashing in pre-market trade but it seems like traders changed their minds and are now looking at the potential benefits of Trump's policies. So the wave count and technical indicators ended being correct anyway despite Trump. My opinion ended up being wrong. However, the long term wave count is nearing a top and a recession is going to come sooner than later. Trump's economic policies are much better for growth so in a way the US is lucky we will have pro-growth policies from a businessman as opposed to a political bureaucrat. I have always been for lower income taxes and lower corporate taxes and this is what he said he was going to implement. I am more in line with the establishment Republicans when it comes to trade so I hope something gets worked out there. Being an isolationist country will make the US noncompetitive in the long run, it's econ 101.

I ended up buying oil today and will continue to wait for a good correction to get back in long in the SP500.

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

Elliott Wave Stock Market Update - November 9

Wow! I am not sure where to begin. What Donald Trump has done is nothing to short of spectacular and for that, I commend his political genius. For someone who has never run for any office to win a presidential election is highly improbable, and for someone who has said so many bad things during a campaign is actually incredible. I hope he will now leave his grudges behind and start working on making things better. I am happy I will be getting a nice tax cut and I hope he will cut the fat in government and get us out of all these international conflicts. At the same time, I hope he will stop bringing out the ugly in America and be more civil now that he is President.

What the market did last night when the news started to break out is equally as unusual and surreal as the Trump presidency. Futures were down more than 100 points when Trump was pulling ahead but at the time of the open prices just followed the bullish count posted yesterday, Validating the count and the bullish short term trend. Which means, the market crashed and rallied on the same exact news! It's one of the most bizarre things I have ever seen in all these years.

Now that the market has clearly put in a 5 wave count in the cash session, the expectation is for the rally to continue after a correction. I normally count after hours but there is no way to count such steep drop without seeing any after effect the day after. So we should see the Trend Average tested soon and then see a leg towards new all-time highs. I will be going long on the retrace.

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 

Elliott Wave Stock Market Update - November 8

The market continued its rally today by testing the 50 DMA before falling slightly to close at 2139. If Hillary wins today, we should see prices break out of resistance at 2150-2155 and perhaps even shoot towards all time highs without much of a pause. However, if Trump surprises then it will be downhill from tomorrow on. I am ready to buy at the break out or start building short positions if motor mouth wins. Whatever happens, I just hope the next 4 years will be ok. I hope the economy continues to grow (after the coming recession) and above all peace in this world.

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

Elliott Wave Stock Market Update - November 7

Last week I mentioned "The ideal bottom would be in the 2075-2085 range which coincides with the rising 200 DMA so we'll see if that will put an end to the selling until the election results". Today's substantial rally solidified the bottom put in at 2083 on Friday's session and technically speaking this could be the beginning of a multi-week rally. However, everything could change tomorrow if the market doesn't like the results. I ended up closing my longs for a nice profit and I rather not take any risks before the election.

The current odds of Trump winning are around 31% according to Five Thirty Eight, which is a substantial probability and not to be underestimated.

http://projects.fivethirtyeight.com/2016-election-forecast/

The market is expecting Hillary to win so if that doesn't happen there will be a panic sell off and a top for the entire wave structure that started from 2009. For now, not only are the markets favoring Hillary, the short term EW count and technical indicators are pointing to a market pleasing result. Tomorrow we will finally find out who will be the 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 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 - November 4

The market has now fallen 9 days in a row, an event not seen since 1980! I think this illustrates just how nervous the market is due to this election. Prices did rally earlier in the morning and for a minute I thought it was headed towards the 2114 level but all gains were soon reversed after challenging 2100. Technically speaking this early morning counter-rally could be labeled an A or a W4, so we'll find out Monday morning if the bounce continues or a lower low is put in. I ended up holding and will be adjusting my stop to today's low of 2183, I will be selling towards the end of the session on Monday.

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 - November 3

The market managed to log its 8th consecutive negative session, something it has not done since 2008. The difference however is back then the market was down 23% in the same time frame vs a somewhat negligible 3% this time. The lower low today touched the target level of 2075-2085 mentioned yesterday and we could see a counter-rally as soon as tomorrow as long as support doesn't get breached. I couldn't resist the temptation so I bought back what I sold last week at the low and will probably sell tomorrow or Monday right before the election. A test of the Trend Average in a day or two seems like a long shot so I will be happy with a test of the 2114 resistance level.

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 - November 2

The selling has continued and a lower low was put in at 2094. The market's losing streak is now the longest one in 5 years so a substantial bounce should be coming soon. However, the wave structure needs to be finished first and I see the possibility of further selling. The ideal bottom would be in the 2075-2085 range which coincides with the rising 200 DMA so we'll see if that will put an end to the selling until the election 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 - November 1

The market sold off for most of the day to reach the H&S target mentioned last week before mounting a counter rally in the last couple of hours. The low today was 2097 and if the bounce fails to get past 2119 then I see another bearish leg towards the 2075-2085 area. I normally would go long if one more bearish leg materializes but considering the election is on Tuesday, it's probably best to look at this from the sidelines. No need to rush into anything.

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.