Elliott Wave Stock Market Update - December 31

The market closed the year on a bearish note and we could see the start of a bigger correction next week. The TA turning bearish would confirm the bearish pattern, which in turn could set up the top of the bull market for the past 9 years. Still to early to say obviously, but a new bear market coming is now more probable than possible. So time to save up up and invest accordingly.

My goal of reaching my retirement goal is 2017 was technically achieved, but it was not through stocks as I had been expecting. Instead, I got there through my business and I am very glad I can finally say I am done with saving money. I still want to buy another place to add to my security but in the whole scheme of things, it's more of a luxury than a necessity. My stock portfolio, which is heavily invested in the Chinese market, did very well but never reached the goal I had for it 100%. Instead,  it closed the year at 85% of my retirement goal. Not bad, specially since I enjoy the dividends from the investment but hopefully it will get there in 2018. My trading portfolio did also well, but it fell short of beating the SP500 because at one point I was too risk adverse and decided to stop taking chances. I have to do the final calculation but I think it trails the market around 5%, but obviously, this is just one year of several to come where I am doing this real time trading test. If I am right on the coming bear market, my trading portfolio will obviously outperform the market and make up for this year's gap.

I wish everyone a Happy New Year and Prosperous 2018!

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 28

The market hasn't done much since last week but remains bullish biased. However, there is now a bearish MACD cross on the daily time frame, which normally ends up in a substantial correction. So perhaps the market is able to hold support and rally to another high before it starts its real correction in January?

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 27

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

The market didn't do much today despite the tax cuts being signed into law. The event was already built into the rally so now the market will need another excuse to keep going up. I am assuming the rally will continue until the earnings season in January and we will see then if there are signs of a bear market developing.  

Have a great weekend and Merry Christmas!

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

Prices rose to challenge all-time highs today but was couple of points short of making a new high. If we see a gap up or a strong rally tomorrow, this will confirm a nested 1-2 set up that will propel the index to substantially higher highs. Maybe we will get a Christmas rally on top of the all-year all 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 - December 20

The market has pulled back as expected but looks like it is getting ready for another rally as long as 2671 doesn't get breached. Given the news the tax bill has now passed both the House and the Senate,  a signature by Trump makes it into law and this should give a good reason for stocks to go much higher. While I think tax cuts for businesses could have been better, I will end up saving quite a bit starting next year. So, this is a good Christmas gift! However, the cost of this tax cut is $1.5 trillion and  underfunding of many programs that help the poorer, so unfortunately, this is not a win/win situation.  I wonder how poor and middle class Trump supporters feel about the whole thing.

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

Another day, another all-time high! seems like the market has no plans to pullback much for the remainder of the year. Looking at the wave count, it looks like this rally will be carrying over to January so 2800 is realistic by next month.

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 reached another ATH after the slight correction in the past couple of days. Technically, there are now enough waves for a stronger correction to come but given the possible tax bill being passed soon, the IV label might end up being a W2. Which implies a very strong wave coming in the next few sessions. I checked what looks like the final bill and I get a decent (not great) tax cut, so I hope they get it done by Christmas.

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 14

The market pullback today to test the Trend Average and unless the trend changes, this is just another mild correction before another rally to new all-time highs. At this rate, we might see 2800 in January but a bear market is on the horizon and I won't be surprised to see signs of it after the bullish season is over.

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

The market made a marginally higher new ATH today but gave up gains at the close to end the day in red. I think the Senate and the House have reached a deal and they should be sending it before Christmas to Trump to sign it. This is really about the only thing I have been looking forward to by the GOP, so I am glad they are delivering it. Good thing they are doing it now and not next year as the GOP might lose control of the Senate in 2018.

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

Prices made a new ATH today as expected and now we should see what will be the bearish response tomorrow or Thursday.  If prices go below 2624, today's high becomes an expanded flat pattern with substantial selling ahead. But if 2624 holds the coming pullback, then there will be new highs ahead. I lean towards more upside since the tax bill is on track and possibly enacted into law by the end of the year. That will be a reason for financial market to celebrate as there will be more money coming in for sure.

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 11

The market has continued to rally and a challenge to ATH could take place in the next session or two. Seasonality favors new highs until January, but again, the market hasn't been this overbought in years. In fact, by some measures, it is currently more overbought than at the peak of the 2007 bull market.

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

Prices were able to gap up in the morning and close the day near its high. A challenge to ATH is likely if the gap is not close early next week. Perhaps news of the Senate and the House agreeing on the final tax bill will be the excuse to keep the market going for the next few weeks.

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 7

Prices bounced somewhat today but there seems to be lack of bullish momentum. If the trend is going to turn bearish, we should see strong selling in the next session or two. But if prices are able to keep trading above the TA, bulls still have a good chance of rallying towards ATH early 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 - December 6

Prices have continued to struggle in today's session and now the Trend Average has caught up with the market. Still, the bias remains bullish and we will see highs tested if the uptrend remains in place. Alternatively, we might see limited downside or sideways trading to set up a base for a Christmas/January rally. This year has turned out to be one of the most bullish years since 2009, how much longer can this last is the million dollar question.

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 5

Prices continued to drop today but levels remain comfortably above the Trend Average, so while the pattern looks bearish, the uptrend remains intact. If prices find a bottom and start rallying strongly in the next week or two, we should see a wave structure that won't top until the end of the year or early 2018. Right now, the only excuse I see the market could use for a sell-off is some Trump related event. Maybe, Trump will be forced to show his tax returns by Muller! for someone who can't stop talking and tweeting, isn't it amazing he has gotten away with not showing his financials at all?

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 4

Prices managed to make a new ATH early in the morning but gains were erased by the end of the day. The reason was the initial euphoria over tax cuts but unless bulls are able to find a bottom before breaching 2605, we could see a much bigger pullback. The next substantial correction should bring down the market to at least its 50 DMA and we should get an idea in the next few sessions.

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 1

The market did top yesterday as I had been suspecting but we still have to see if this structure is just part of an intermediate bullish wave or a significant top. The drop today bounced right off the Trend Average and if higher lows are made going forward, we can expect the rally to continue for the rest of December. I am assuming if the Senate passes the tax bill tonight (looks likely), there will be enough of an excuse to send stocks much higher. At the same time, this whole business with Flynn pleading guilty and possibly implicating Trump in the future could serve as the perfect excuse to really sell off.  I hope they pass the tax cuts tonight, it is a much needed cut for businesses.

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