Elliott Wave Stock Market Update - May 31

Prices made a lower low today but the count remains the same and another high is expected before a bigger correction. If for some reason a new high doesn't come tomorrow, then the wave could truncate and go into selling mode early next week. I am tempted to add some shorts if we see a high tomorrow but we'll see. In the meantime, I sold the silver position and keeping gold only.

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 - May 30

The market didn't do much today other than buy time, there should be another leg to challenge all-time highs before we see a stronger correction. Now that summer is here, I really will be surprised if we don't see a substantial pullback in the next few months. It's been now 8 years since the rally started, so even a bear market that lasted 2-4 years would not be out of the question after the market finally tops.

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 - May 26

The market went into another sideways correction today, which will allow the market to make another ATH early next week in pre-market or during regular trading hours. A new high could be a good place to short but obviously, we have to see what pattern develops. I am enjoying my longs in metals and I hope they go up even more when the market finally tops.

Have a great long weekend! I am glad summer is almost here.

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 - May 25

Prices broke out today to new ATH and could see even higher highs after a brief pullback. The 5% drop in oil did not matter and this point to strong bullish momentum. However, I continue to think this is a bag holder rally and significant change in sentiment should occur in the near future. I wouldn't be surprised if what we are seeing is the "head" of an H&S pattern.

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 - May 24

The market made a record close today and looks like a new all-time high is coming as soon as tomorrow. The recent sell-off definitely had me fooled but the fact remains that seasonally speaking, this is about the worst time to go long. I did however close the shorts from yesterday at break even when the sideways correction became clear to me. I will make another attempt on 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

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 - May 22

Prices reached the 2400 level today and with the close above the TA, the short term trend goes back to bullish again. I didn't think this would happen but there is no point in arguing with the market, it is what it is. But since the wave structure seems complete and the prices are so close to ATH resistance, I couldn't help but to short towards the close. I will see a tight stop and I will close at the pullback as there should be one coming in the next session or two.  If prices find support at 2380, there is a chance for a bullish breakout on an IHS.

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 - May 22

The market continued its rally to a higher high today and was able to close above the Trend Average. I didn't think there would be enough momentum but I was wrong. Also, there is a 5 count in place from the low at 2352 and this opens the possibility of more upside and even new ATH if the TA turns bullish. With that said, I'd like to see what the bearish response will be in the next day or two as I continue to favor the possibility of an important market top around these levels.

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

Have a great weekend!


Short Term Trend = Bearish 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 - May 19

The market counter-rally continued today and managed to test the TA at 2389 before giving up some of its gains. I'd be surprised if the market is able to close the sell-off gap early next week before heading back down but we'll see. I am holding to my gold and silver despite the gains today as I think  they will go up even more once the market unravels.

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

Have a great weekend!


Short Term Trend = Bearish
Medium Term Trend = Bullish

Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

Elliott Wave Stock Market Update - May 18

Prices bounced towards the 50 DMA at 2369 after making a lower low early morning at 2352. The counter-rally was expected and doesn't do much as far as repairing the damage already in place. So the expectation is for lower lows ahead after the bag holders load up. I was tempted to buy some volatility or shorts but instead ended getting into silver and gold, as they will rally as equities come down. The bearish set up is in place and all we need is for Trump to do or say another crazy thing and voila!

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 - May 17

Well, if there was any questions as to why I was avoiding longs in this market, today is why. There are enough waves in place and it's May, so it should not come as a surprise to anyone who has been on this blog that there is a tendency for equities to peak around this time. The close today turns the TA bearish and the close was well below the 50 DMA. We might see a counter-rally towards resistance at 2380 soon but I am looking at 2250-2280 as initial possible target for a correction. Whether or not there will be one more leg to new highs after the correction is open to debate but for all intent and purposes, the entire structure that formed in 2009 has enough waves to call itself done. And as much as Trump is in the news, the sell-off today was destined to happen, he is just the perfect excuse.

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 - May 16

The market made another ATH today but gave up some of its gains for the remainder for the session. Looking at the chart pattern, it looks bullish and could see a break out of range if the high today is broken convincingly. However, I will continue to sit this one out as I don't see much upside from here without a substantial correction first.

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 - May 15

The market managed to make a new ATH today after looking weak for the past few sessions. The uptrend continues to stand but prices must breakout soon out of range or risk a significant correction in the next few weeks.  I don't see anything moving the market up substantially in the next few months but we'll see.

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 - May 12

Prices closed below the TA for the first time since mid-April and waning momentum favors the possibility of a change of trend as soon as next week. I didn't catch it earlier in the week but there is already a H&S pattern in place and normally a sign of a top. So maybe "Sell in May" is already in place and soon we will see a big sell-off. With all the drama in the White House, there is plenty of excuses for sentiment to turn south quick. I think the last time I saw this much drama in politics was around the Monica Lewinsky scandal 20 years ago. Trump could easily make his tenure as President a reality show, not a single dull moment with this guy.. lol. I just hope he passes the proposed tax cuts  soon before they start trying to impeach him.

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 - May 11

Prices dropped early in the morning but were able to bounce off the 2380 support level I mentioned couple of days ago. So far, it looks like momentum is waning but we need to see support break for a real correction to begin. Otherwise, we will see more highs ahead. It's tempting to short using the ATH as a stop but have to see a few more sessions.

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 - May 10

The market regained some of its losses from yesterday and is positioned to challenge all-time highs again tomorrow. However, if prices fail to reach a new nigh on this coming attempt, we could see a set up for the beginning of a correction with the current bounce wave being a B or a bearish W2. Whatever the case, I am staying clear of the market until I see a clear opportunity.

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 - May 9

Prices managed to make a marginally higher ATH but bullish momentum seems to be fading. The number to watch to confirm the beginning of a correction is 2380. A change in the TA, coupled with a break of 2380 would open the doors for a sell-off, with 2322 as the first target. I normally not bearish, but it is May and now that the target for the multi-year pattern is complete, a real correction could come in the next few weeks.

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 - May 8

The market finally reached a new all-time high as expected after bouncing around in the same range for over a week. But the count is complete and ready for a much bigger correction. Obviously, we could see a break-out to substantially higher highs before a bigger pullback but I personally prefer to be cautious around this time of year.

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 - May 5

Prices closed the week testing its all-time high at 2399 and absent of any surprise over the weekend, we should see a new ATH next week. Technically, the high today is enough to complete the count posted but we will see how much more upside there is next week. Ideally, a strong bullish move in the next few weeks to a substantially higher high would be perfect for a top before the summer. I can't believe we are already approaching summer!

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 - May 4

Nothing really much to add today, other than this is getting boring! But again, let's see if traders will make up their minds tomorrow.

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 - May 3

The market made a marginally lower low today for the ongoing sideways correction and I am assuming we will see a break out of range sooner than later. I can't imagine the market continue to trade like this until close of the week. The count remains the same and we should see a new ATH once the bullish side makes up its mind.

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 - May 2

The markets keeps trading in the same narrow range and is doing a good job at keeping everyone in suspense. However, the count remains the same and a new all-time high would finalize the 5 count posted. Now that we are in May, any new all-time high could be the top for a while so it's best to be careful at this point. There is no need to chase the market now that it has rallied for 6 months without any significant correction.

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 - May 1

Prices have continued to trade within the same range as the last few sessions. I still assume the count posted is correct and a new all-time high will be made before we see a correction to the Trend Average. The NASDAQ reached a new high again today and we could see a very bullish period for all indexes if resistance is cleared.

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