Elliott Wave Stock Market Update - August 30

Prices pulled back under 2900 today in what seems like a consolidation move. If prices are able to respect support at 2893.50 then we should see prices rally again to challenge or make new all-time highs. Given the potential Canada deal in the background, we could see substantial upside ahead.

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 - August 29

Prices have continued to rise to new highs as expected and it seems the market is nowhere near done yet. With Canada trying to get a deal done before Friday, we could see a positive outcome on those negotiation as a reason for a bigger rally. This market is unstoppable for now.

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 - August 28

The market made another ATH as expected and we should see more highs ahead. And now that Canada is also trying to negotiate a NAFTA replacement, a positive outcome would just add more fuel to the rally. At this pace, we might see 3000 in September.


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 - August 27

Prices closed at new all-time highs as I had been expecting and the 3000 mark is now probable in the next few weeks. Maybe 2018 will close in the 3000+ territory? An incredible number to anyone trading the market after the crash of 2009. In fact, I don't remember any forecasts (even the most bullish ones) calling for 3000 before a bear market. Crazy world we live in!

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 - August 23

The market started to pull back at the end of the count posted but given the limited downside, we might see prices rise to higher highs before a significant correction. I am in Shanghai at the moment so this might be the only update until I get back. Last time I was here, I was with a friend who could speak the language but this time I am all by myself so it will be fun navigating the city using sign language. I am debating on taking a taxi or getting in the subway.


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 - August 21

The market didn't go into a correction as I had been expecting but it did reach a new all-time high, which I had been anticipating for a while. Now that all bearish patterns are voided, the market is free to rally substantially from here. We should see a pullback to digest gains but now there is a good chance the index will reach 3000 in the next few months. Unthinkable just a few years ago!

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 - August 20

The market has continued its rally but bullish momentum seems to be waning so we could see a pullback to a completed 5 count as soon as tomorrow. If the correction respects the 2802 low where the rally started then we should see new all-time highs this or next week.

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 - August 17

The market made a higher high and with today's close, the TA goes back again to bullish. Unless there is some sort of unforeseen bearish event this weekend, we should see the rally continue to challenge and perhaps make new all-time highs next week. Bulls just won't give up!

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 - August 16

The market mounted a strong rally today and the 2796 support level continues to be the level to break for bears. If the market recaptures the TA, there is little doubt there will be new all-time highs ahead. Perhaps there will be some sort of break-through in the China trade issue and that will be used as an excuse to mount a substantial rally? And speaking of China, I am going to Shanghai next week for a convention. My first ever over there should it should interesting.

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 - August 15

Prices were down substantially earlier in the morning and the 2796 level was tested as I had been predicting. The main question now is whether the low today holds or 2796 will break for good. If this support fails to hold the selling them we should see significant selling in the near term. Now, whether this current correction is just a correction or the start of something bigger remains to be seen. Fundamentally speaking, there is still room for the market to go higher.

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 - August 14

The market staged a counter-rally to test the TA but remains vulnerable to more selling in the next few sessions. I get the feeling 2796 is going to be tested in the next few sessions but we'll see.

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 - August 13

Prices have continued to decline and now the Trend Average has turned bearish. Not sure if we will see another whipsaw but as long as prices maintain trade over 2796, there is a possibility of a rally coming. However, if prices fall below the 2796 support level then the market will see a potential much bigger decline ahead.

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 - August 10

The market failed to complete the 5 count and instead truncated and sold off today. The close is barely under the TA so there is still a chance of a strong comeback to challenge ATH. But of the TA is lost, then we will see another substantial pullback in the next week or two.

Have a great weekend!

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 - August 9

The market closed slightly down today but remains in what seems like a W4 pattern so I expect a push higher to challenge all-time highs if the low made yesterday continues to be respected.

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 - August 8

The market has come very close to making new all-time highs and I think there is a good possibility of a new high before the week ends given the count. A new ATH would mean prices are probably going substantially higher before the correction many have been waiting for materializes.

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 - August 6

Prices have made a higher high as anticipated and the next target is a new all-time high. I would have never predicted a new high in the middle of this summer earlier this year but here we are. This is why is so important to go with the trend. It will take a bearish miracle to stop the market from making highs.

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 - August 3

Prices have continued to rally to higher highs and the Trend Average has been whipsawed, which hasn't happened in over a year. So I assume prices will be challenging the recent high at 2848 sometime next week and the ATH in the next few weeks.

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 - August 2

I was expecting the market to continue selling today but I was wrong. Prices bounced to a higher high and could possibly whipsaw the TA. But since we are sticking to a system, we'll assume there is downside coming until the there is an official change in trend which could happen tomorrow if selling momentum continues.

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 - August 1

The market closed slightly down today but it is enough to turn the TA bearish so we should see recent lows tested in the next session or two. The market could use Trump's threat of more tariffs on China as an excuse to sell or his calling to end the Russian probe on him. I suppose Mueller is getting too close for comfort so he doesn't want to be outed. I think that press conference the other day speaks for itself. Never mind what the media says, just listen to what Trump said and then the "would/wouldn't" excuse the next day. What a joke.

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