Elliott Wave Stock Market Update - January 30

The market has made a higher high as expected and could be headed towards a challenge of the 200 DMA at 2742. Also, the intermediate trend turns bullish with today's high but the general pattern remains bearish given the technical damage from last month. I am all cash and waiting for an opportunity.

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 = Bearish

* 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 - January 28

The market lost ground today in a gap down opening that never fully recovered. However, the low was exactly at the TA and the pattern in place looks like a potential triangle that could lead to higher highs in the next few days contingent on recent lows not being breached. With that said, looking at oscillators, the market could start a multi-week pullback in the next few weeks so we might get a higher high but a strong pullback or sell-off is on the horizon.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 24

The market closed the day flat but remains bullish biased as the close was above the TA and the 50 DMA has been serving as the floor for recent selling attempts. If the made yesterday holds then we should see a rally to challenge resistance at 2675.

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 = Bearish trend being challenged

Long Term Trend = Bearish

* 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 - January 22

The market had its first sell off after rallying almost non-stop for 3 weeks. The low today tested the 50 DMA before bouncing back towards the end of the session. If the coming rebound fails to make a higher high then the market will be setting itself up for another sell-off so a bounce might be a good opportunity to short given the risk-reward ratio using the recent high as the stop.

The excuse for selling today was the apparent economic slowdown around world and the ongoing issues with China. The current economic expansion in the US that started in June 2009 is the second longest in history and 5 months away from being the longest one on record. So technically, we are due for a recession soon regardless of whatever the cause might be. Maybe it will be a full blown trade war with China that will tip the balance or the ongoing government shutdown will end up damaging consumer confidence or maybe both? I think Trump is underestimating the fact that China can withstand a slowdown while the US goes into a recession that will make it impossible for Trump to get re-elected. Most consumers don't want a trade war, this is all Trump's idea. Just like the government shut down is affecting almost a million workers who are going without pay. I am sure people going without pay would appreciate the government paying them for their work but unfortunately they are being used as political pawns. Instead, maybe Trump should use the $4 billion in annual arms procurement aid to Israel and use that as leverage instead or anything that doesn't involved hurting people that are working.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 18

The market has rallied past 50 DMA resistance and now looks headed towards the 2740 level.  The market continues to be in a bearish pattern despite the ongoing rally when looking at longer term time frames and the next intermediary bearish correction should give us a clue of the overall count.

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 = Bearish trend being challenged

Long Term Trend = Bearish

* 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 - January 16

The market has made a higher high and technically tested the 50 DMA as I had been anticipating. Now, we should find out if this rally plans to go much higher or selling will resume in the next few sessions. This will depend on prices trading above 2628. If the market fails to rally past this level then we could see a strong sell-off ahead.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 15

The market broke resistance and looks well positioned to challenged the 50DMA in the next few days if the 2570 low doesn't get breached on a pullback. Once the 50DMA is tested then we might see the resumption of the sell-off if technical traders decide to dump their shares at that level.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 14

Prices closed down today but the market shows a possible triangle pattern that could break out to the upside soon. However, if the low at 2562 is broken then there should be a substantial pullback. It would make sense if the 50 DMA was tested before another strong sell-off and we should find out this 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 = Bearish

Long Term Trend = Bearish

* 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 - January 11

The market ended the day flat but closed the week up +2.54% which is not all that surprising given how oversold the market was prior to the bounce. We might see a challenge to the 50 DMA trending at 2635 sometime next week and that could be the turning point as we could selling come back at that level. Personally, I haven't committed to any positions yet other than silver so I'm hoping to see a tradable set up soon. I am currently in China for business and despite all the media talk on a slowdown, things seem fine. If anything, it's interesting to see how technology has been evolving here. They use a QR code to pay for everything with the phone here.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 8

Prices have continue to rise as expected and we should be able to tell if this bounce will turn into a 5 count in the next few sessions. The 50 DMA is trending down at 2639 and I assume this trend will be challenged before any substantial selling takes place.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 4

The market had a strong rally today that recovered all of yesterday's losses and turned the Trend Average bullish. This change in trend invalidates the 5 count I had been posting and opens the doors for further upside. Still, this rally remains part of a counter-rally so another sell-off is likely once the short-term enthusiasm is over.

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 = Bearish

Long Term Trend = Bearish

* 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 - January 3

Happy New Year!


The market sold off substantially today and could go much lower if the count posted is correct with the bulk of the selling coming in the next day or two. All the issues that were used as reasons to sell last month remain and if anything, the announcement by Apple of lower revenues ahead only adds to the list of excuses. Also, the government shut down could start turning into an economic problem if not fixed soon.

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 = Bearish

Long Term Trend = Bearish

* 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