Elliott Wave Stock Market Update - December 30

The market decided to end the year in a negative note and the break of support opens the door for a bigger correction next week. I was hoping to profit from my last trade of the year but I had to stop out unfortunately. Still, I think new all time highs should come in 2017 before the beginning of a real bear market that could last a while. Trump was somehow credited for the rally since Nov 8th and he will be blamed for the coming bear market for sure. The US is in uncharted territory with Trump being president. And while I see the benefits of having an outsider shake up Washington politics, I am somewhat concerned with some of his rhetoric as nobody knows what he will actually do.

Have a safe and Happy New 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 = 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 - December 29

Prices continued to sell off today but seemed to have bottomed just right above the 2242 support level. Now that there is a possible bottom pattern in place, we'll see if bulls intend to resume the rally soon for a strong January. The TA has turned bearish but I am still holding long because support has not broken, so I am hoping new highs will comes as I had anticipated.

I also sent in my check today to the brokerage for the new "Trending Waves" account. I should have the account funded by the time the market opens for 2017 next week. I had a relatively good trading year but I can't really pin point what my percentage return was as I kept varying my position size (with margin). With the new account, it will be clear as I will only use principal to trade on that account. Also, I am still hoping my China shares will get to 2007 highs in 2017 so I can really seal my retirement goal. Technically speaking, I'm set right now but primarily because of my business not because of the China trade. So if the SSEC can get to the goal, it will be like icing on the cake.

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

Elliott Wave Stock Market Update - December 28

The market failed to make a higher high as I was hoping and the micro-count posted yesterday was invalidated. Prices ended up closing right above the 2248 support level and this area holds further selling, then we could see another attempt at a breakout before the year is over. But if support is lost, then a bigger pullback will be likely in January. I am holding my positions but stopping if support is broken.

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 - December 27

Prices started out in bullish mode but found resistance near the all time high. Going by the micro-count, we could see another wave tomorrow that would challenge or make an new all time high. The NASDAQ hit an ATH today so maybe all other indexes will follow soon. I am keeping my positions in hopes they will finally break out.

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 - December 21

Traders are now really on vacation but I assume the market will start rallying early next week. The sideway move for the last 2 weeks should have been enough to digest gains since Nov 9th and the market closing above 2300 by the end of next week is very possible if yesterday's low of 2256 doesn't get re-visited.

Merry Christmas and have a safe long 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 - December 22

Another exciting day in Wall Street! I guess traders are on vacation since the market is at the same level as 2 weeks ago. But a bigger move should come fairly soon and I am hoping it will be a break out to new highs. I added QQQ to my long position so I hope there will be a strong finish for the year, perhaps 2016 will have the highest close for the decade? The wave count is aligned for a major top in 2017 but could stretch all the way to 2018. Whatever the case, it is best to trade with extreme caution at these levels.

Also, I have the Trending Waves portfolio parameters in place and I just need to wire the funds to the broker to make the account live. Basically, it will be tracked against the S&P 500 including dividends and I will use long only SPY positions to trade in and out. At the time of dividend distribution, I will short to the hedge instead of selling so I can capture whatever the dividend that is being paid. The position will launch on January 1st and I will take into account what the market is doing to go long or in cash on that date.


Launch date: January 1st, 2017

Position size: $100,000 - Non leveraged account with the exception of dividend distribution window

Primary position: SPY

Strategy: Trend Average trading, Elliott wave count, and other chart patterns

Goal: To beat the SPY annual return including dividends


Very few professional money managers can beat the S&P 500,  with some studies suggesting only 1% of mutual fund managers can do that. So I will finally put my system to the test in the most transparent way that I can think of. Real money, real time results will show the validity of what I have been doing here for the last 6 years.

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 - December 21

The market continues to buy time with today's session and I think oscillators have reset enough for a new rally in the next few sessions. The door is still open to some more downside to test support but it looks like bears have gone vacation already. To me, the question is not whether or not prices will go up but how much.

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 - December 20

The market traded slightly higher today and could technically setting itself up for a rally tomorrow if today's lows holds. However, the possibility of testing support mentioned yesterday remains probable before the real rally takes place. I went 50% long (as in half of what I normally trade) in after-hours to make sure I don't miss any upside. I am also paying attention to gold as the bottom is near.

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 - December 19

The market has continued its consolidation and there is a triangle in place that could result in another bearish leg to test the 2242-2248 support area. I was hoping to a lot more downside prior to a Santa Rally but this might not get much lower before the next leg of the rally starts. So if support is hit, I will be going long with a short stop. I also ended selling my oil position today for a decent profit and will buy again if I see a good set up.

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 - December 16

Prices pulled back slightly today and the Trend Average has basically caught up with the market. So, we could see another leg of the rally develop early next week. There is a real possibility that 2,300 will be reached by the end of the year as long as the TA remains bullish. I will go long early next week if I see a good set up and I am keeping my oil longs in hope a W3 materializes.

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 - December 15

Prices attempted to rally today but found resistance at 2272 before giving up some of its gains for the rest of the day. Ideally, the correction would continue and test the rising Trend Average. But as I said yesterday, bullish sentiment is strong and we might just see shallow pullbacks for the next couple of weeks. I was able to go short again near resistance and closed the position at the end of the day to pay for my coffee next month :)

I just bought back oil and looking to gold for possible longs in the next few sessions. Gold could be close to a  bottom after selling off 18% in 6 months.

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 - December 14

The market corrected had corrected as expected and today's pullback is the strongest one-day pullback since early November. Given how overbought the market is, there is plenty of room for further downside. However, since traders are still high on positive sentiment, we could see a rally back to the top as long as the Trend Average remains bullish. I ended closing my shorts for a nice profit and will again go short again if I see a favorable bearish pattern or long on a good risk/reward set up.

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 - December 13

Prices made another all time high but I think we have enough waves for a bigger correction in the next few days. The market has rallied almost 10% from the November low (and much more if you count the election night premarket crash) and could use a break to set up a Santa Rally. I went short after-hours and will be using today's high of 2177 as the stop.

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 - December 12

The market finally took a break today and corrected a few points. It would be great if prices came down to 2214 so I can go long, but we might just see a shallow correction despite the big run up since November 8th. I think the current reasoning for the market going up is the reflation expectation with the Trump administration. Whether or not it happens and translates into increased profits is another story. But as the market reaches over-priced levels, it is best to start getting ready for a bear market in 2017 or 2018 if Trump gets lucky.

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 - December 9

The market has made another high as expected to potentially finish the count from 2187. If there are further highs on Monday or I see a topping pattern, I will be going short early next week to make few bucks on the pullback. I am assuming the rally will continue for as long as the 2187 level holds coming corrections. The market is overvalued and overbought but the madness can easily continue for quite some time.

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 - December 8

Prices made another all-time high as expected and we should see one more high before the wave structure from 2187 is complete. Now that the market is at 2,250, it is less than 10% away from the ultimate target for the entire wave from 2009. So there is a good chance in 2017 we will be saying Adios Amigo to the 8-year bull run. That is unless Trump lucks out and manages to extend the bull market with a very favorable corporate policy but I still think a recession is inevitable and the market is due for a bear market. I am looking to "retire", as in having the option to do nothing, in 2017 and hopefully buy the market and real estate at a low around 2018-2019.

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 - December 7

The marker broke out of range in what is obviously now a W3. I was wrong in assuming we would get one more dip before the break out and instead the count I was following was a nested bullish 1-2. Higher highs are likely to come and this Trump rally might just go all the way until 2107 without much of a break.. it's gonna be Yuge!

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 - December 6

The market rallied to a higher high and and closed the day challenging ATH as expected on yesterday's post. Now that they are 5 waves in, we could see an IHS set up where prices end up testing the 2,200 level and start the next leg of the rally from there. I will be going long around the TA with a tight stop in hopes I can get on the Trump rally.


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 - December 5

The market was able to rally today is what seems like a micro-w3, which implies a higher high is coming as soon as tomorrow and could end up challenging last week's all time high. If we see highs tested, then we could see renewed strength through a IHS set up. I was hoping for a 50 DMA test but I'd be happy with a IHS set up to go long. Also, I sold oil earlier today and will buy in the next pullback. What OPEC does is illegal in a free market economy. What they call "OPEC Meetings",  is called collusion here in the US. Where else can you benefit from blatant price fixing but oil now days? It's easy money.

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 - December 2

Prices managed to bounce and stay above yesterday's low but the Trend Average has turned bearish. Looking at the pattern, if support keeps holding, we should see a rally early next week. However, a break of 2187(and especially 2180) will lead to a much bigger decline to perhaps test the 50 DMA currently at 2156.  I have only been long in oil in the past month but if stock prices get to the 2150 level, I'll get in long again.

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

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 - December 1

The market broke support at 2198 and the correction has made a lower low. The next level to watch is 2180 and if that breaks, then we should see a real correction in the next couple of weeks. But if the market is able to bounce from this area, then we will see another all time high fairly soon. Considering oil is rallying, downside should be limited in equities if the correction continues.

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 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