Elliott Wave Stock Market Update - November 30

Prices have continued to climb ending the week up almost 5% and right on the 200 DMA at 2760. I assume the catalyst for the next substantial market move will be the outcome of trade talks between Trump and Xi in Argentina. But looking at where the moving averages are headed, the death cross seems inevitable unless there is a bullish miracle. Also, I don't think China will yield much to pressure from Trump as the one that has the most to lose is actually Trump and the US. A big increase in tariffs to goods from China will be felt across the board in the US and have a significant inflationary effect. China will see their share of exports to the US shrink but after all, exports to the US are no more than 20% of their total so they are not exactly dependent on US trade. The bottom line is, if the trade war continues, China will see their economy slow down but we will see a recession  sooner than the anticipated in the US. Last but not least, the pressure is on Trump to bring home some sort of deal as he is the one running for re-election in 2 years. Xi is not under that type of pressure so he can drag his feet if he wants to.

Have a great weekend!

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged

Long Term Trend = Bullish trend being challenged

* 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 - November 28

The market posted one of the strongest bullish moves this year today and the close changes the Trend Average to bullish again given the strength of rally. The pattern could turn into cup and handle if the neckline forms in the next few days. I have to say today's move was unexpected given the bearish set up that had been working week for the past few weeks but now that the trend is bullish we should expect further upside until the rally exhaust itself. With that said, the death cross remains highly likely in the next few days and the long term trend will be turning bearish for the first time since 2016.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged

Long Term Trend = Bullish trend being challenged

* 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 - November 27

The market climbed a bit higher today but again, the close is under the TA and the set up favors downside in the next few sessions. It will take a miracle to reverse the damage and the only thing I can think of would be a resolution to the trade war with China. Personally, I think more tariffs are coming plus a recession in the next year or two so I doubt the trade issue will be resolved at all. You can't force others to buy more from you if you don't have anything they want to buy. The only thing you can do is import less, which is what tariffs can do. In the end, the winners will be the ones that have been patiently waiting for a bear market for all these years.

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 - November 26

Prices staged a strong come back today but the market remains bearish biased. If the count posted is correct then we should see a stronger sell-off in the next few sessions to lower lows.

Hope everyone had a good holiday weekend!

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 - November 21

The market staged a counter-rally today that mostly faded by the end of the session. The lack of strength in the bounce shows lack of bullish confidence and Friday could get ugly if the count posted is correct. Prices are trading well below the main moving averages and a death cross will be imminent if the sell-off continues in the next few sessions.

Happy Thanksgiving!

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 - November 19

"The pattern points to a potential sell-off next week "

The market lost substantial ground today and if 2670 is breached then it has the potential to go much lower. That will also confirm the likelihood of a bearish W3 and a test of the October low at 2603. A death cross is likely in the next couple of weeks unless the bearish pattern place is reversed.

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 - November 16

The market rose to test the TA early in the morning before giving up some of its gains. The pattern points to a potential sell-off next week if today's high at 2746 holds any more upside. If prices rally past resistance then bulls will have some breathing room but for now the market has a bearish set up with substantial downside.

Have a great weekend!

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 - November 15

The market posted a decent bounce today but remains bearish biased. Prices would have to rally all the way to 2815 to reverse the bearish pattern in place. Maybe we will see increased volatility ahead?

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 - November 14

The market has made a lower low and most importantly, broke support at 2700 and is now bearish biased again. Also, looking at where the 50 DMA and 200 DMA are, it is highly likely a death crossover will happen in the next week or two unless bulls are able to pull a miracle and recapture the 200 DMA at 2760. If Trump is able to agree on something with China then maybe we might see a year-end really but given the fact that China is not flexible, bad news on tariffs could be used as the catalyst to send prices much lower.

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 - November 12

The market continued its drop today and the potential bullish 5-count has been invalidated. The close was just below the Trend Average and nothing short of a strong rebound will save the trend from turning bearish again in the next few days. It's hard to tell what the count is now due to all the recent volatility but the market is looking tired and continued trade below 2763 will bring a death cross in the next few weeks.

Short Term Trend = Bullish trend being challenged
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 - November 9

Prices continued its pull back today but still remains within W4 parameters so we should see a rally wave to a higher high early next week if the count posted is correct. One factor that has gotten attention lately is oil. It has dropped 20% almost in a straight line since hitting a peak at $76 few weeks ago and it could be interpreted as a sign of slowing global oil demand and not an oil glut. If oil prices continue to drop we could see caution in equities as everyone knows a bear market is just a matter of time and it will happen sooner rather than later.

Have a great weekend!

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 - November 8

The market seems to have started a minor correction which I am labeling a W4. So, I am assume the rally will resume after gains are consolidated in the next day or two. There might even be an ATH challenge later this month for as long as the TA remains bullish.

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 - November 7

The market staged a strong rally today and even closed over the 2800 level as I thought it would once the 200 DMA was cleared. The next challenge for the bulls is overcoming the 50 DMA at 2833, if that trend is recaptured then the market will be bullish and could attempt a challenge to ATH.

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 - November 6

The market has turn the TA bullish and seems ready to challenge the 200 DMA in the next few sessions. I think the market will be using the election results as the catalyst even if we have no idea what the outcome will be at this point. If resistance breaks, prices have a good chance to reach 2800 in the near term.

Short Term Tend = Bullish
Medium Term Trend = Bullish trend being challenged

Long Term Trend = Bullish

Elliott Wave Stock Market Update - November 5

The market closed up today but remains under the 200 DMA. At the same time, another close above the Trend Average will add a bullish bias to the short-term trend so we could see bulls trying to dictate the pace for the time being. Maybe, there the election results tomorrow will be used as an excuse for the next significant market move.

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 - November 2

The market closed the week in positive territory and came within points if testing the 200 DMA, which was the target for this bounce. What happens in the next few sessions could give us a clue for the remainder of this year. If prices fail to recapture the 200 DMA at 2764 then we will see renewed selling and see the low of the year (2532) tested in the next few weeks. If prices are able to start trading above 2764 then there is still a chance for a year end rally despite all the recent volatility. The trade talks with China could serve as a catalyst for a big move. Considering elections are just a few days away, Trump could be more flexible than usual in announcing some sort of deal with China.

Have a great weekend!

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