Elliott Wave Stock Market Update - February 27

The market pushed towards a higher high today in the morning before giving up gains the rest of the session. There is a bullish set-up in place and I will probably go long early in the morning using the stop I mentioned yesterday. Potential inflation and interest hikes are serving as excuses for the market to pullback.

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 trend being challenged

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 - February 26

Prices broke out of the consolidation pattern as expected and I think they are headed towards a challenge to ATH. The move today was strong and I might go long on a pullback using 2697 as the stop. I also went long on oil today since I think it is headed towards the this year's high at $66. Looks like things might get out of control again until the next top.

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 - February 23

Prices were able to get past the 50 DMA today in a solid bullish close for the day. This pattern continues to look like sideways consolidation and we could see a break-out early next if 2697 holds any further corrections. Also, a break-out of the pattern would favor a challenge to all-time highs. Whether or not prices are able to reach new highs and invalidate the bearish pattern in place is another question, but for now, it looks like there is more upside coming.

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 trend being challenged

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 - February 22

The market has been able to hold support and consolidate gains so far. If the index is able to avoid further downside, we could see the rally continue as soon as tomorrow. I am surprised the TA hasn't been tested and instead the TA is catching up to the market, which is normally a bullish sign. The only sign for concern continues to be trade below the 50 DMA, which has to be recaptured in order to strengthen the bullish case.

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 trend being challenged

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 - February 21

Prices fell towards the end of the session to close in negative territory. This close under the 50 DMA is not good for the bullish case and looking at the wave structure, I can see a zig zag in place from the low at 2532. If the sell-off continues, we will see substantial selling in the next few sessions. However, if prices are able to hold above that 2532 low, the market still has a chance for the resumption of the rally.

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 trend being challenged

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 - February 20

Prices went into a minor correction today and if the count posted is correct, we should see another wave to one more high before a significant pullback. If the TA is tested during this pullback, then the count will need to be revised.

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 trend being challenged

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 - February 16

Prices made a higher high today before giving up some of the gains by the close of the session. The market had one of the fastest weekly gains in 5 years, bringing back hope to the bullish crowd. Also, the close was above the 50 DMA, which technically positions the market to rally back to all-time highs in the next few weeks as long as this trend is not lost. So despite the scare from last week and all the inflation talk, this could end up being a one wave correction. With that said, the market remains in a bearish pattern for a long as ATH remains in place. Trade this coming week will be important in deciphering if there is momentum left to the rally that started in November 2016.

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 trend being challenged

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 - February 15

I am in Vegas for a short visit so this is a brief update. Prices were able to get past 2720 and this opens up the probability of a run to challenge ATH. Never mind the inflation, that was just the excuse to scare of some people.

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 trend being challenged

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 - February 14

As expected, the market resumed its rally today and was able to get past the Trend Average. It looks like the 50 DMA is going to be challenged and it could happen in the next session or two. I decided to play it say and sold my position for a nice gain and I will wait for the 50 DMA and see if I see a shorting opportunity,


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 trend being challenged

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 - February 13

Prices closed marginally higher today in what looked like consolidation. This sideways move could be a B or a shallow W2, so I expect the resumption of the counter-rally in the next day or two. The TA has dropped to 2680 and I assume it will be challenged before the end of the week, whether the market will start closing above it is another question. Also, the 50 DMA at 2720 might serve as a magnet for this bounce, so we should find out soon if the rally really has legs.

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


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 trend being challenged

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 - February 12

The market continued its bounce and was able to clear initial resistance at 2650, closing comfortably above it. However, this doesn't tell us much as to what will happen the rest of the month. I continue to assume prices will test the Trend Average or the 50 DMA before the next substantial move. If we see lots of selling at the test of the trend, this will be a sign traders are selling the rallies, which sets up the market for lower lows. Personally, I am tempted to sell and lock in profit but we'll see. Can't be greedy but can't too cautious either.

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 trend being challenged

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 - February 9

Per my post a few days ago:

"I am assume the low at 2593 will be tested but ideally we should see the 200 DMA tested which at 2537. "

The market followed the count posted and bottomed at 2532 before mounting a strong counter-rally. I assume the  bounce will continue next week until we see a test of the Trend Average. If bulls are able to re-capture the TA, then maybe this is one of those one-wave corrections which we have seen several over the years. But if prices are not able to recapture the TA, then the market is in trouble and the 200 DMA will be re-visited again.This sell-off stands out as the one of the fastest in history but we could equally see one of the fastest rises in history if this ends up being a simple correction. So the best thing is to prepare for whatever is coming. I bought longs right around the 200 DMA and raised my stops to break even, I'll be ready to sell at the TA if I see any signs of hesitation. A lot of people are still scratching their heads over this sell-off but none of this was really a surprise by looking at the wave count. Actually, this sell-off has been predictable since it started last 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 = 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 - February 8

The market ended up below 2600 as I had been expecting and the real test will come at the 200 DMA. If the count is correct, we should see a strong bounce off the 200 DMA to possibly challenge yesterday's high at 2727. However, if the count I have posted is not correct, then we are looking at severe selling in a W3 that will go well below the 200 DMA and send the market into more than just a correction. Technically, prices are already in correction territory, what we haven't seen since 2009 is a bear market, defined as at least a 20% drop from the peak. I will go long if I see signs of a bottom around the 200 DMA. Many people continue to sound surprised at this drop, including Trump himself (who foolishly was taking credit for the recent rally). But this has never been about the President, it's about the economic cycles and the waves in which the market navigate.

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 - February 7

The market continued its bounce earlier today before giving up gains and we could see the resumption of the sell-off in the next day or two if the high today doesn't get breached.  I am assume the low at 2593 will be tested but ideally we should see the 200 DMA tested which at 2537. If we see this 5 count materialize, this could be the beginning of not just a correction but a bear market.

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 - February 6

Prices rebounded today after selling off substantially overnight in what I assume is a W4. So, if the count is right, we should see another leg to a lower low before a counter-rally to test the Trend Average. If prices are able to rally back up to the TA, then this will invalidate the 5 count and make this a zig zag correction within an uptrend.

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 - February 5

What a day. I think it's clear now that we have a W3 in place and there are much lower prices to come. Today's sell-off was the worst in 6 years, erasing all gains made in 2018 and some. While we don't know if the bull market that started in 2009 has finally topped, today's action raises the probability that it is all over for the bull market. I've been saying for months that there are enough waves to call the rally over and maybe what were are seeing it's just the beginning for a bear market that will send prices back to test the 1600 level. Obviously, too early to tell but we'll see.

Prices went through support and the 50 DMA like they were not there. But the next level of support is near the 200 DMA at 2530-2550 and we could see a dead cat bounce from there. Ultimately, a 5 wave count would be ideal of it found a floor at 2425.

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 - February 2

The market followed through on its bearish pattern as I had been expecting and we saw the biggest decline in almost 2 years. A lot of people in the financial media are trying to rationalize why the market is selling off despite the good numbers, but this shouldn't come as a surprise who reads this blog frequently. Now the question is whether the wave today is a W3 or a C wave. I think if we see selling acceleration early next week, then it will confirm a W3. But if prices are able to reverse today's losses, then we should be looking at a C and one more leg to new highs. The key level to watch is the Trend Average as it has proven to be a reliable indicator the great majority of the time. Personally, I'd like to see more downside so I can buy back the stocks I just sold but I am fine either way. Last but not least, support is at 2675-2690, but if that breaks then prices will head for 2600.

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

Elliott Wave Stock Market Update - February 1

The market has continued to show weakness but making a marginally lower low and looking at oscillators, we could see more selling pressure tomorrow. I was expecting a stronger but it seems like most of the counter-rally occurred in pre-market, so if the selling is strong tomorrow it will mean the W2 or B is done. I didn't get a chance to go short as I had been hoping but I did sell my China positions (first time in 7 years) and will buy them back at a better price hopefully.

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