Elliott Wave Stock Market Update - January 31

Prices made a slightly lower low in today's session before bouncing towards the end of the day. The close was right on the TA and puts the short-term uptrend into question. If selling continues and the 2257 pivot is breached, we should see a lot more selling ahead. However, if the market respects support then we will see a rally towards 2300 soon.

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 - January 30

Prices failed to follow through on last week's rally and instead had the first significant sell off for the year. Normally, I would assume this is just a correction with higher highs to come. But the "island top" pattern on the chart is troubling for the bullish case in the short term. So, until I see the pattern invalidated, my assumption is the Trend Average will be turning negative soon. The sell off triggered my stop, so I am out of the market again and waiting for another set up to get back in.

The sell off today is being attributed to Trump's policies. While, the market was due for a correction, I am sure Trump didn't help much with his immigration ban. I agree that political correctness should be put aside in order to keep terrorists out, that people should be checked throughly when they are from "problem" countries. However, this ban is simply ridiculous and hurts people who already live legally and peacefully in the US. I find it ironic that Trump didn't ban people from countries that have actually sent terrorist to the US like Saudi Arabia, Pakistan, or Afghanistan (he has business interests there apparently). Instead he banned people from Iran, who are normally victims of Al Qaeda/ISIS terrorism and have zero record of ever committing or planning to commit terrorists acts in the US. Somebody needs to tell him the difference between Sunny and Shia muslims.

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 - January 26

The correction continued today but it looks like it is setting up for another leg higher early next week.  Given how the 4th wave looks in relation to the 2nd wave, I might be wrong in assuming the coming wave is a 5th. Instead, the coming bullish wave could end up being a W3, with 2257-2300 as W1. Whatever the case, the bias is to the upside and I bought back my long position in anticipation of much higher prices.

The ultimate target for the bull market is 2400-2500 and I continue to think there is a good chance the market tops this year. Trump's unorthodox economic policies in regards to trade might end up igniting a recession and provide the perfect excuse for the market to be cut almost in half.

Trump Recession

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 - January 26

The market finally hit the 2300 level today before going into a mild correction. I had the count complete yesterday but going by how corrective the pullback looked today, I am re-labeling the chart to give room for another leg to a higher high in the next session or two. The market is ignoring Trump at the moment but we could see a bigger correction soon, as Trump gives the market plenty of excuses to sell. For one, imposing 20% on Mexican imports will only lead to retaliation from US's second largest export market. If he wanted Mexico to pay for the wall, he could have done it by other means and not by messing with trade.

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 - January 25

The market finally broke out of range and almost reached 2300 at the close. All other indexes, except small caps, reached all time highs and this could evolve into a much bigger rally that will reach 2360 if we see a 5 count evolve. My ultimate target for the rally that started in 2009 is within reach, but obviously, we have to keep an open mind in case euphoria gets out of hand.

I sold my position at 2297 and looking to buy back on the correction. I'm assuming the opening gap will be closed sooner than later.

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 - January 24

The market rallied to new all time highs as I was expecting and we could finally see a strong break-out of range in the next few sessions. I'm assuming there will be a correction for today's wave but it might end  up being a shallow one. I sold when prices hit a new ATH and just bought back in after-market to improve my cost basis.

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

Elliott Wave Stock Market Update - January 23

The market continued to sell off today and tested the 2255 support level as I had been expecting. The counter-rally from the 2257 bottom was a 5 count wave, so I am assuming recent highs will be challenged again and possibly even the ATH sometime this week. With that said, the TA turned bearish with today's close and prices must stay above support or risk a real sell-off. I bought back my long position towards the end of the day, so managed to improved cost by a few points.

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 - January 20

The market as remained in a stand still mode despite the presidential transition. I was hoping to see a new high by now, but trading remains stuck in the same range for the last 2 weeks. Normally, bullish patterns break-out strongly after a period of consolidation. However, the consolidation for the past couple of weeks is rather long and puts into question the short term uptrend, especially now that the market closed right at the TA. So, while the general uptrend continues to be bullish, I see the possibility of a test of 2250 again before bullish momentum can truly gain traction. And obviously, if prices are able to break through the series of recent lower highs next week, then it will be all clear for a bullish run towards 2300. For now, I rather be cautious, so I closed my long position for a marginal profit.

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 - January 19

The market failed to continue yesterday's bullish momentum and was under selling pressure for most of the day. The close is under the TA and my assumption is a strong move will come fairly soon, as it almost seems like the market is waiting for the presidential inauguration. Corporate earnings have been mostly positive, so the fuel is there to push the market to new highs.

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


Short Term Trend = Bullish 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 - January 18

The market hasn't really done much but wait in the last few sessions. But since Obama's last full day in office is tomorrow, I will not be surprised if prices rise to a new all-time high. The real question now is what happens now that Trump is sworn in. Tariffs and trade wars will definitely bad for the economy in the long run, that to me is a given. So we'll see how Trump will handle all the populist policies he campaigned on.

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 - January 17

The market started the week on a down note, but the bullish set up remains in place as long as support doesn't get breached. Maybe the market is timing Obama's exit for an all time high? I wonder what the market will be at when Trump leaves. Also, I hope Trump's economic policies end up working out so the economy gains traction. But I also hope he will be banned from Twitter and stop being so offended by Saturday Night Live.. lol.

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 - January 13

The market closed up today but remains under resistance. Again, I assume prices will start breaking out sooner than later to a new trading range, just in time for the presidential transition. Also, it's worth noting the NASDAQ closed at an all time high today and this supports a broad market rally in the next week or so. I labeled a possible micro-count on the chart, so we'll see if prices follow the pattern earlier 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
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 - January 12

Prices plunged at the open through 2260 support, eliminating the previous bullish set up. However, there was a strong counter-rally after a bottom at 2254 was found and the market closed comfortably above the Trend Average. I was hoping we would see ATH today but the market has not made up its mind yet. So now, key support for an ongoing rally becomes 2254 and new highs will come if the TA remains bullish.

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 - January 11

Prices tested the 2260 uptrend support today after Trump started talking about how pharmaceuticals companies are screwing the American consumer (which I strongly  agree), but support held and prices bounced back and closed the day on a positive note. And, if there aren't any surprises tomorrow, I expect a new all-time high in the next session or two.

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 - January 10

Prices attempted a rally towards the all-time high and fell short a few points before heading back down to close the day exactly flat (something it has not done in 9 years). The NASDAQ however, was able to make a new ATH, so I hope all other indexes join in so I can start labeling the current count an impulse. I still think Obama will go out with an all-time high given his luck.

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 - January 09

The market has continued its correction, but we could see highs challenged again in the next session or two as long as 2260 gets respected. I hope the coming wave will be clearly impulsive so we can better predict where the top will be. The ideal scenario would be a rally all the way to May and then see the top for the entire bull market there.

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 - January 06

The market made a new all-time high as expected and higher prices should come next week as long as 2260 doesn't get breached. The potential count is a bullish nested W3 but we have to see how the rally evolves next week before placing labels. Maybe prices will stage a rally all the way to Obama's last day as President? The market has tripled since he took office so we might see all-time highs the day he leaves. Obviously, the rally had nothing to do with Obama but I am sure Democrats would like to get credit for that. And I hope the inverse doesn't happen with Trump but he will most likely get a recession and a bear market under his watch.

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 - January 05

The market pulled back as expected but it has not gone into the 2250 area yet. We could see another bearish leg tomorrow to test support at 2255 and possibly bottom there, or we could see bullish momentum pick up again tomorrow and send prices towards a new all-time high. Since the pattern is bullish and the Trend Average is back to bullish as well, I went long on my new TW account at 2268.

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 - January 04

Prices managed to rally back up to all time high resistance and this could potentially set up an Inverse Head and Shoulders to 2315. A pullback to successfully test the Trend Average would be create a reasonable entry point to enjoy the rally. A sell off to a low below 2233 would invalidate the bullish pattern and looks unlikely at this point. Especially since we have a coming president that will make America great 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

Elliott Wave Stock Market Update - January 03

Happy New Year! Hope everyone had a good long weekend. I can't believe we are in 2017 already. The market had a bullish start for the year but it was somewhat volatile during the remainder of the session, which shows some ambivalence by some traders. The close was right around the Trend Average and this should be considered a counter-rally until the TA turns again. I am still hoping to see the rally continue to new all time highs on a continued Trump rally. However, it won't be long before the Trump dump.

My new TW portfolio is all in cash and I will be bench-marking it  against the SP500 close of 2257 today.

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