Elliott Wave Stock Market Update - June 26

The market ended up peaking as labeled and it has since gone into a deeper correction to test the Trend Average. The set up remains bullish until the TA turns bearish so my assumption is the market will be making new highs again soon.

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 - June 21

The market technically went into a "correction" today and looking at the chart it seems there is more upside left. I labeled the waves completed but I wouldn't bet on it. I assume the G20 meeting this coming weekend will produce the catalyst that will set the tone for the market for the summer. I don't see China yielding structural consessions so Trump might get something else out of them and say "we won".

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 - June 20

The market broke out range as expected and made a new ATH today. I had been expecting a strong counter-rally when the market bottomed but a new high is somewhat of a surprise to me given the time of the year and the economic background. But it is what it is and now all trends are back to bullish mode again. It's almost feels like bear markets are a thing of the past. In the 2000's, we saw 2 bear markets in in less than ten years. Now it's been 10 years since the infamous 666 and the market has not seen one since then. The whole thing is actually incredible if you think about how the mood was in 2009.

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 - June 17

The market again traded sideways today and I assume prices will break out of range in the next day or two. If prices do break resistance, we could see a challenge to ATH as soon as this or next week.

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 - June 14

The market continued its sideways consolidation today and it seems like it is getting ready for a push higher before a real correction begins. We might just see prices attempt a new ATH in the next week or two.

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 - June 13

The market has consolidated gains in the past couple of sessions and we could see prices rising higher.  There is technically a 5 count in place but there is from for another bullish leg before a top. I am waiting on the sidelines patiently :)

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 - June 10

Last week I mentioned the market was about to either make a strong counter-rally or accelerate the sell-off going by the wave pattern. Since then, prices have staged a very strong rally that could even reach all-time highs. So, if the zig zag pattern proves correct, then we should see a top in the next few days just short of ATH or a new high that sends prices collapsing suddenly. The only way, the current rally would prove sustainable is if the correction makes a series of higher lows during pullbacks. I am completely out of the market and not planning to jump in anytime soon. The Feds willingness to cut rates is actually a bearish sign and so is the inverted yield curve so we'll see how this ends up evolving in the next few weeks.

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 - June 5

The market had another good day today and the close was well above the TA. It's hard to tell of the TA will turn positive during this counter-rally but I continue to assume selling will resume after the bounce is over.

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 - June 4

The market staged a strong rebound today that tested the TA exactly at 2804. The excuse for the rally was the Fed statement of willingness to drop rates to support the economy but a statement like that could also be interpreted as they fear the economy will soon be in trouble. The rally might continue tomorrow but the set up is now bearish.

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 - June 3

The market made another lower low today but the damage was not as bad. The NASDAQ on the other hand is in correction territory and I think is safe to assume all other indexes will soon follow. We could see a substantial bounce in the near term or a very strong sell-off as looking at the waves one could argue for an end of an ABC or a bearish 1-2 set up. Whatever the case, pressure is now on the bulls.

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