Wednesday, February 17, 2021

Elliott Wave Stock Market Update - February 17th

 


The market has rallied to new highs right after the last update but has traded in a tight range for the last 8 sessions. The TA changed to bullish during the initial rally and has been bullish since but unless there is another leg to the rally soon we could see the trend turn bearish again. The rally is now stretched and there is plenty of talk of a bubble at this point so we could see this thing finally pop soon. I find it amazing that we are in 2011 and we haven't seen any significant bear markets for over a decade, this is now the longest bull market ever! 

Short Term Trend = Bullish trend being challenged

Medium Term Trend = Bullish

Long Term Trend = Bullish

For detailed wave analysis visit http://ewaveanalytics.com

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors

Saturday, January 30, 2021

Elliott Wave Stock Market Update - January 30th

 


The Trend Average finally turned bearish this week after months of being bullish. The market lost -3.49% for the week and we will see much lower prices as long as the TA remains bearish. The 200 DMA is at 3349 and just a test of this level would make it a 10%+ correction so we'll see if prices get there fast or will start bouncing around. Technically speaking, the selling should have occurred when we had all the election drama and record covid-19 cases so not sure what could send the market into a stronger sell-off other than the fact that it is overbought. I don't think a short-squeeze on Game Stop is enough of a reason to send prices under the 200 DMA but who knows!?


Short Term Trend = Bearish

Medium Term Trend = Bullish

Long Term Trend = Bullish

For detailed wave analysis visit http://ewaveanalytics.com

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors

Saturday, January 23, 2021

Elliott Wave Stock Market Update - January 23rd


Finally, we have a new President! I am glad we are moving on and getting back to normalcy after 4 years of a clown pretending to be a leader. Hopefully, we will never see anything like this ever again. 

The market has continued to make higher highs and the TA has been right basically since the rally started. I believed prices would resume selling at some point in 2020 but I was wrong about that as it has been a non-stop rally since the sell-off in March. And now that there is an end in sight to the pandemic, the recession and we have a new administration, I don't know what the catalyst would be for a bear market other than the fact that equities are overbought. But I think the next longer term bearish wave will set the earth for the next year or so. If the low in the next correction fails to go below the one last year at 2200 then basically prices will continue to rally to new highs. I have all this cash on the sidelines so I hope to see that bigger correction soon!

Short Term Trend = Bullish trend being challenged

Medium Term Trend = Bullish

Long Term Trend = Bullish

For detailed wave analysis visit http://ewaveanalytics.com

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors



Sunday, January 10, 2021

Elliott Wave Stock Market Update - January 10th












What a week! Despite all the political turmoil and what basically amounts to an attempted coup by the loser, the market managed to reach a new all-time high! And this is not even taking into account the record of people getting sick and dying by the thousands.. There seems to be a disconnect somewhere but it is what it is. The TA has been bullish all along and pointing in the right direction and continues to favor higher highs. With that said, the market is very overbought and there should be a change of trend soon. Hopefully, it won't be some violent act related to the loser but after another impeachment, he might just convince enough people to do more stupid things.


Short Term Trend = Bullish trend being challenged

Medium Term Trend = Bullish

Long Term Trend = Bullish

For detailed wave analysis visit http://ewaveanalytics.com

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors

Monday, January 4, 2021

Elliott Wave Stock Market Update - January 4th












Happy New Year! I am glad 2021 is finally here and I hope we will be able to put the pandemic behind us in a few months. These next few months are going to be tough but at least there is light at the end of the tunnel. That and the fact we won't have a man-child running the country anymore!

Anyway, the market closed the year at an all-time high as expected but started the year with a sell-off. The market is overbought at this point and any strong sell-off shouldn't come as a surprise. What has been surprising is how resilient the market has been in light of the pandemic and the clown show in the White House. I see some Elliott Wave counts that call for a sell-off very soon to challenge last year's low at 2200 but to be frank, I am not sure how valid are those predictions as this seems like a long-term W3 with no end in sight. But who knows? maybe we'll see a bear market year after more than a decade of waiting for one! I got lucky in business and the stocks I bought in China years ago but I will continue to be patient for an opportunity to get back in the US market. I am sitting on quite a bit of cash just waiting to be deployed so maybe we'll see an entry soon in the US?

Short Term Trend = Bullish trend being challenged

Medium Term Trend = Bullish

Long Term Trend = Bullish

For detailed wave analysis visit http://ewaveanalytics.com

* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors