Elliott Wave Stock Market Update - July 31

The market bounced as expected and we could see the TA turn bearish tomorrow. A break of 2798 would solidify a bearish bias for the rest of the week. We might see prices test the 50 DMA (2765 and rising) and find a bottom there.

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 30

The market has gone into a correction since the last update and I see the potential for continued downside after a bounce. As it is, the close today is below the Trend Average and we could see the trend turn in the next few sessions. With that said, this should be considered a correction within an uptrend until proven otherwise.

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

The market went into a minor correction today despite a sell-off in tech. Technically speaking, the market could have topped in the meantime but if the correction ends up being a shallow one then prices will challenge ATH in the next few sessions.

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

The market has continued to make higher highs and it is now within reach of a new ATH. I know Facebook is selling off after hours but if Trump's politics hasn't brought down the market (yet) then I doubt tech will stop the market from challenging its ATH. Once that level is reached we could see a big correction but for now I assume new highs as long as the TA supports it.

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 market broke out of range today as I suspected it would and higher highs are likely for as long as he TA remains bullish. It is impossible to tell if we will see a deeper correction before a challenge to all-time highs but I wouldn't be surprised if we get a much stronger pullback once 2872 is challenged. This market just wants to go higher regardless of the political drama in the background.

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 23

The market made a slightly lower low today but managed to bounce back and stay above the Trend Average. Prices have basically traded sideways for the last 7 sessions and this is looking more like consolidation rather than a top. So we could see prices try to break the recent high and attempt a breakout as soon as this week. If bears manage to break support at 2789 then we will see a stronger correction.

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

Prices traded sideways today despite the news that Trump wants to tax all imports from China (except his MAGA hats and his daughter's clothes line). The market seems to be consolidating and ready to push higher before a stronger pullback. Seems like the only thing bringing down this market is a recession as Trump's behavior has provided plenty of excuses for a correction.

Have a great weekend!

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

Prices continued to go higher as expected but unless there is a stronger impulse soon we could see a strong pullback in the next few sessions. Seems like the market is set on challenging its ATH in the next few weeks.

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 made a slightly higher high and we could see prices go a bit higher before a stronger correction  to test the TA takes place. If the next pullback ends up being a shallow one, we should see all-time highs challenged later this month or sometime in August.

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 16

The market closed slightly down today in what seems like a sideways correction so we could see more upside coming in the next day or two if the lows made today hold. We could see prices rally for the rest of the month if a breakout occurs this before the week is over as momentum favors the bulls. Maybe the market will take comfort in the recent meeting our President had with his boss. Has anyone ever heard a US President humiliate himself as much as he did with his recent statement? Never mind most Republicans are embarrassed, he is even getting heat from Fox and Friends! lol.

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 was able to overcome resistance and break through the 2801 peak I had been looking at for the past few months. While the move doesn't give an all-clear for the market to rally, the break of resistance is significant in that it invalidates the intermediate bearish pattern that had been in place for months. If the market is able to follow through on its bullish momentum next week then prices are likely to challenge or reach new all-time highs. I didn't think this would be happening in the middle of summer but I have been proven wrong by the market before and it's best not to fight the trend.

Have a great weekend!

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 has followed the posted count and today's rally technically completes the count. What remains to be seen in the next few days is whether the intermediate bearish pattern is invalidated. The high today was 2799 so just a few points more and this could open the door to a rally to challenge all-time highs. I thought markets would be dropping by now but I guess the count will finish when it wants to finish, so just need to be patient.

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 10

The market reached the IHS target of 2790-2800 which also happens to be resistance and we will soon find out if the rally is for real or the market is planning on tanking again. Looking at the labels, price action lines up perfectly with a 5 count to invalidate the intermediate bearish pattern. However, I just read stable genius just announce tariffs on $200 billion of Chinese exports to the US and the market is not taking it very well at the moment. So the count posted could well be an ABC move with another trend change coming to test recent lows. I didn't want to take a chance and sold all my SPY longs before the close.

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 - July 09

The market continued its ascent today as expected and the main question now is whether 2790-2800 will be able to stop the rally or will finally break and invalidate the intermediate bearish pattern that had been in place for months. Considering there is a new daily MACD bullish cross, odds favor continued upside in the near term.

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 - July 06

The market broke out of its IHS pattern and is likely to go higher. I suspected bears had run out of fuel when I saw the bottoming pattern and this is why is always good to keep an eye for these possible trade changes. The TA turns bullish again on this reversal and my assumption is the 2790-2800 range will be challenged again.

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 - July 05

The market has continued to make higher lows and this set up the market for a rally as soon as tomorrow. The alternative to this scenario is a triangle that will break and test the 2692 low in a strong sell-off. Both patterns are in play given the bearish TA and the bullish IHS set up. Looking at the economic news, I would assume bears use the planned tariff implementation tomorrow as an excuse to start a sell-off. We'll find out soon.

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 - July 02

The market gapped down but was able to bounce off support to erase losses and close the day mildly positive. This bounce creates the bottoming pattern I pointed out on Friday and failure to go below 2692 sets up the market for a rally and a change of trend in the next few days. I was expecting and hoping for a bigger correction but maybe the market just wants to correct sideways instead so we might just see 2800 challenged again.


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