Elliott Wave Stock Market Update - July 31

The market had a bullish opening today but ended up closing the day slightly negative. The pattern today sets up the market for stronger selling tomorrow, so as long as prices stay under the Trend Average, we should see recent lows tested if not broken. I think the White House staffing issues is enough of an excuse to sell so we'll see if sentiment will turn tomorrow.

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 - July 28

The market attempted to bounce today after yesterday's "sell off" but ended the day slightly down and just a hair below the Trend Average. Short term oscillators point to higher prices on Monday but if bullish strength fails to materialize, we will see yesterday's low at 2359 challenged and possibly give way to lower lows earlier in the week. I am holding my short position but staying vigilant in case support holds. It's actually interesting all the political drama hasn't affected the market at all, politics has turned into a reality show with all the infighting, firings, resignations, tweeting, etc. I just hope tax reform gets done but I am not too hopeful at the moment. I can't believe Republicans, who control both houses were not able to even modify Obamacare, much less repeal it. If they fail at tax reform, they need to be out ASAP because they are not doing anything. That includes Trump obviously who has done nothing but tweet in the last 6 months. He is still talking about Clinton and Obama as if people care(specially under-voting age Boy Scouts) at this point.

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 - July 26

Prices made another all-time high at the opening today but gave up all its gains to break support at 2465 before rallying back to close the day even. The close was still over the Trend Average but the break of what I have labeled as a W4 favors the beginning of a correction. To confirm the market will start a deeper pullback and not just consolidate to rally again, we need to see the closes below the TA in the next session or two. I initiated shorts at 2468 and using a relative short stop for the position in case bag holders come back in force.

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 - July 26

Prices went into consolidation mode today and unless prices go below 2465, there will be new all-time highs coming again. If the next bullish wave turns out to be exceptionally strong, we won't see a top until a 5 count is completed for the 5th leg of this rally that started at 2407. I am out of the market for now but at least I am enjoying my gold longs.

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 - July 25

Prices reached another ATH today after technically going into a correction for a few days. The sideways move aligns better with a W4, so I am going to assume the previous top was part of the W3 and now the last leg of the structure is taking place. Nothing is bringing down this market, not summer, not Trump. But euphoria will eventually run its course 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 - July 24

The correction that technically started last week has continued but so far it's been a sideways consolidation. Ideally, prices would come down to test the TA as opposed to buying time for the TA to catch up to the market. So, if prices fail to make a lower low in the next day or two, it will be enough for prices to start another leg of the 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 - July 21

The market showed signs of a top in today's session but this needs to be confirmed early next week with lower highs. If prices are not able to make a new ATH early next week, they we should see prices go down to test the Trend Average at the very least. With that said, the 5 wave structure is indicative of further upside after the correction, so there is a good chance for a continued rally once the consolidation period is over. I didn't get into any positions and just holding on to gold, but I hope to go long (or short) sometime next week.

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


Short Term Trend = Bullish
Medium Term Trend = Bullish

Long Term Trend = Bullish

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

Elliott Wave Stock Market Update - July 20

The market made a another all-time high today and the W5 now is almost 1=1 to W1, so a conclusion to the wave structure would be ideal at this point. However, I see a Ascending Triangle forming and prices would reach upper 2485+ before going into a bigger correction. I never imagined the market rallying in the summer given the advance after the elections. But it is what it is, the uptrend continues.

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 - July 19

Prices reached a new all-time high as expected but now the structure from 2407 has enough waves to be considered complete. So we could see a stronger pullback in the next session or two to test the Trend Average, which is current at 2443. I ended closing my long positions and will buy them back at the test or I might short if I see a topping pattern (there is none yet).

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 - July 18

The market seems to have found a bottom for its W4 and we should see a new all-time high as soon as tomorrow. The could still be another bearish wave left in the W4 but I favor a new bullish leg tomorrow to complete the W5. I might lock in some profits tomorrow 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 - July 17

Prices took a break today in what looks like part of a W4 and my assumption is there is another leg to another all-time high in the next few sessions. I am staying put on my long position and might sell only after all the waves are in, which could take a while.

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 - July 14

As expected, the market made new all-time highs and we should see several more with or without a correction in the near term. Technically speaking, prices could shoot above 2500 since the market had been in a correction for several weeks and now has a good base to rally from. Also, with earnings coming up, the excuse to rally will be there. I raised my stop to 2432 and will just ride this for as long as the TA is bullish or until I see a potential topping pattern.

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 - July 13

The market has continued to rally and ended the day challenging ATH. Looking at the wave structure and other technical indicators, there is plenty of room for upside. So if we don't get a new ATH tomorrow, we should see one sometime next week as long as recent lows do not get retraced.

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 - July 12

The market rallied as I was expecting and the TA has turned bullish again. This could be the beginning of a multi-week rally to new ATH since the recent "correction" the market experienced gives it a solid base to rally from. So, as long as recent lows hold, expect new several new highs for as long as the TA is bullish.

I raised my stop to break-even and will just ride the wave until I see signs of a reversal.

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 - July 11

The market headed down as I was expecting but made a higher low before staging a bounce. This pattern favors the bullish side and a break of yesterday's high will likely confirm a change in trend and an eventual challenge to ATH as soon as this week. A correction would make sense around this time of year but there is no point in fighting the trend at this point. So I went long at the close with a stop at today's low in anticipation of a new leg for the rally.

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 - July 10

Prices managed to make higher highs today and ended the day closing just above the TA. The next bearish wave, which could come as soon as tomorrow, should give us an idea of whether the bottom is in for the "correction" in the past few days. Failure to break support will solidify the case for a bottom and will set the base for a rally to challenge ATH this month.

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 - July 7

The market staged a somewhat strong bounce that eliminates the more bearish set up on the chart (nested 1-2). in fact, the higher low today puts into question the bearish count and this could well be another bearish set up going bust.  So, unless prices come down hard on Monday or Tuesday, there is a good chance the bottom is in for another rally to new highs. I closed my shorts for a marginal profit and I will wait for another pattern to trade. It's amazing to me how the market simply refuses to do a normal correction, crazy bag holders!

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 - July 6

I updated the blog yesterday but apparently I didn't hit the "publish" button, so there was a day skipped this week. But basically, as the price action shows today, the bias continues to be bearish and should 2405 break, we could see selling accelerate in the next few sessions. The next level of support if support breaks is 2350. I am keeping my shorts intact but moving my stop to 2423.

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 - July 3

Prices rallied early morning to challenge resistance at 2442 but most gains were erased by the close, which again was under the Trend Average. The one bullish factor in the market was the DJIA making a new ATH, but other than that. the bias continues to be bearish across all markets. I had originally planned to stop at 2430 but didn't get a chance because of the morning gap and given the how today's sessions turned out, I am keeping my short position but adjusting the stop to today's high.

Happy 4th of July!

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 - June 30

The market bounced substantially for most of the day before selling off in the last few minutes to close below the TA again.We should see selling continue next week as long as prices do not get above today's high at 2432.72. The set up could be a bearish nested 1-2, if correct, then a large sell off wave will come and make it clear there will be a substantial correction ahead. I bought back shorts I sold couple of weeks ago at 2430 and I am using the high for today as the stop.

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

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