Elliott Wave Stock Market Update - October 28

Prices have reached a new ATH as expected and the rally could continue as long as the Trend Average remains bullish. Looking at just oscillators, prices could be in for a multi-week rally before any significant corrections.

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 - October 25

The market finally challenged ATH today at 3027 as expected and could make new highs next week if recent lows continue to hold. The negotiation of "phase 1" in the China trade deal sounds like it is coming to a conclusion and strong earnings from some companies could keep pushing the market higher. At the same time, the impeachment could lead to a sell off down the line as it is likely the genius will be impeached at the House. I am looking forward to the day of normal politics with normal politicians!

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 - October 23

Prices have made a higher high at 3014 but so far there wasn't been a stronger break out I had been expecting. The trend remains bullish so we could see a rally towards ATH in the next session or two if recent lows hold.

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 - October 21

The market closed above the 3000 level for the first time in a month and is well positioned to challenge all-time highs. Any favorable news coming from the China trade negotiations will do it but I still don't see any substantial concessions. I don't think the markets actually cares of the substance of this agreement,  as long as there is not "disagreement" it will be good enough.

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 - October 18

The market has struggled in the past couple of sessions to make a higher high and instead retreated to test the rising Trend Average. The pattern continues to be bullish but prices can not continue to pull back and go below 2962 or else the uptrend will be over.

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 - October 15

The market has broke through resistance at 2993 and continues to be well-positioned for a continued rally to new ATH. Maintaining lower lows above 2962 is crucial to maintaining this new uptrend, if prices were to fall below this level the bullish pattern in place will be invalidated.

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 - October 11

Prices managed to recapture the TA and the 50 DMA and this turns the TA back to bullish and eliminate the bearish set up I had been positing. The new pattern points to a possible breakout once 2993 is cleared and we could see an ATH as soon as next week. The rallying excuse is progress with China on a trade deal but I think it remains to be seen how much substance there is to the agreement. I think at this point Trump is desperate to get something going to claim something positive in light of all the negative news surrounding him and the talk about recession. I don't think China will be making any major concessions but we'll see how they will spin it.

Have a great weekend!

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 - October 8

Prices dropped substantially as expected but I think the next session or two will tell us if the nested bearish count is correct. If prices drop strongly and last week's low is taken out then we could see a 10% correction in the next few weeks. I think a mix of China trade news and now Trump's refusal to cooperate has the potential to create chaos in the next few weeks. China's trade delegation is already here and I don't see them giving up any concessions. Maybe some dirt on Biden will help!

Again, thank you very much for helping out with the Boys Scout's fundraiser. I am trying to get my son excited about selling stuff. Not a whole lot of traction there yet but is good to expose kids to money and commerce early on so they can learn to appreciate it.

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 - October 7

Prices tested the Trend Average again today but failed to close above it again. Assuming there isn't any surprise positive news, we should see prices head back down as soon as tomorrow. Whether this pullback will be part of a bearish W3 or a set up for a bottom will depend on how 2855 holds. If last week's low holds then we could see a strong rally back to 3000.

You guys know I don't ask for donations for the blog and I do this strictly as a hobby. But if you are able to donate for a good cause, please go to the link below to contribute to the Boy Scouts of America. It's my son's store :)

https://www.trails-end.com/store/scout

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 - October 4

The market had a strong close for the week after going to lower lows after the last update and almost testing the 200 DMA at 2841. Despite the rally today, the TA is barely getting tested so the trend remains bearish and we could see prices head back down next week. If prices are able to start closing above the TA to recapture it then that will be a signal 2855 is an important bottom. And again, the whole Trump drama and the weak economic readings are perfect excuses to send prices further down.

You guys know I don't ask for donations for the blog and I do this strictly as a hobby. But if you are able to donate for a good cause, please go to the link below to contribute to the Boy Scouts of America. It's my son's store :) Thank you to those that have made purchases for the Boys Scouts Fundraiser, it is greatly appreciated!

https://www.trails-end.com/store/scout

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 - October 2

Support at 2948 failed to hold and prices fell into the 2800's as expected. The sell off today has an impulsive look to it so the 200 DMA at 2838 is likely to be tested and should that fail to hold the selling then prices will be likely headed towards a 10% correction. Hard to say if the market is just resetting itself or rolling over for a bear market  but as recession signs continue to show up and the Trump mess gets worse, we could finally get a bear market after all these years waiting!

You guys know I don't ask for donations for the blog and I do this strictly as a hobby. But if you are able to donate for a good cause, please go to the link below to contribute to the Boy Scouts of America. It's my son's store :)

https://www.trails-end.com/store/scout

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