Elliott Wave Stock Market Update - July 30

The market has turned bullish again after recent highs and prices should continue to rise for as long as the TA is bullish. Hard to imagine the market making new highs if the trade talks with China don't go well but for now, it seems the market is optimistic there will be a resolution. Personally, I don't think China will make any major commitments and Trump will either have to tax at 25% as promised or find some "solution" to avoid this being a problem for his 2020 campaign. China technically has the upper hand right now despite what Trump says (or tweets).

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 managed to hold support and rally to new highs yesterday. If prices are able to hold above 2996 the TA will turn bullish again and new all-time highs should be expected. It's been a long time since the TA has been whipsawed but it seems like a bullish turn is coming again.

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 - July 22

The market closed slightly up today but it wasn't enough to recapture the TA so now the trend has gone bearish. What remains to be seen is how support at 2963 holds as it is crucial for this pivot to hold if the rally is to continue to higher highs.

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 - July 19

The market closed the week down -1.23%. Most of the gains from yesterday bounce were erased today and continued weakness will turn the TA bearish. But as I said on my last post, as long as 2963 is not breached the pattern points to higher highs.

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 - July 17

The market has gone into a stronger correction after making an all-time high on Monday. The close today was below the Trend Average but the pattern still favors more upside as long as 2963 doesn't get breached. A break of 2963 would bring a "real" correction in the next few weeks.

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 - July 15

The market made another high earlier in the morning as expected but not by much. We need to see a bit more consolidation or a pullback for another stronger rally to come. With the China trade talks starting again this week, the market will have an excuse to keep pushing higher.

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 11

The market has closed at an all-time high as expected and continued upside is likely if recent lows hold any pullbacks. Maybe we will see 4000 in the not too distant future!! We are now in the longest economic expansion ever so this could turn out to be a "W3" of economic expansions.

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 08

The market closed down today but did not make a lower low. If 2967 continues to hold then we can expect a challenge to all-time highs in the next few days.

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 05

The market opened down today and tested the TA before erasing most of its losses by the end of the day. We should see 3000 next week if the low today holds. The reason for selling today was the strong jobs report, which is actually a good thing for the economy but instead it was used as an excuse to take profits. I wonder if the market will be able to reach 4000 before the next recession comes.

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 03

I had just mentioned 3000 yesterday but I guess that level might be reached Friday if the bullish momentum continues. We are now officially in the longest economic expansion in history and one of the best stock markets ever as well. Question is, how much longer before the reset kicks in.

Happy 4th!

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 02

Last week I mentioned the market was getting ready to make new all time highs and this is what are seeing this week. In fact, I wouldn't be surprised if 3000 is reached in the next week or two given pattern and general bullish momentum. I didn't think I'd be saying this in July but the market looks like it is going for substantially higher highs. So much for my summer bear market prediction..lol. Goes to show, the TA is the most reliable indicator as proven over the years.

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