Elliott Wave Stock Market Update - March 9

Prices tested support as I had been expecting since last week and there was a counter-rally attempt towards the end of the day. Obviously, it's too early early to tell if a bottom is finally in but I see a potential bottom at 2354.54 if another bearish wave fails to make a lower low. I closed my shorts from last week for a few cents of profit and I went long at 2161 with a stop at today's low.

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 = 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 - March 8

The Trend Average has turned bearish for the first time this year after prices continued to struggle in today's session. The low is technically testing the 2358 level I have been mentioning and if support keeps holding, then we will see bulls regain control again fairly soon. However, if support is lost, then we should see a test of the rising 50 DMA currently at 2306. I continue to hold my position but ready to close if support won't break.

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 = 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 - March 7

The market has continued its correction and it looks like a test of the 2358 level mentioned last Friday is a possibility tomorrow. The Trend Average is about to turn bearish for the first time in months but we have to see what happens tomorrow before calling for lower prices. I continue to hold my short position from last week but will close it at 2358 if support holds.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 - March 6

The market has continued to correct and a lower low was made at 2367 early morning. We should see a counter-rally soon but more downside to bring back some pessimism would actually be more bullish for the market. I am still holding short but might trade the position if it gets past 2383.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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 - March 3

The market continued its correction today and the pattern could turn into a zig zag or a 5 wave move down. I still favor a test of support at 2358, if the market is able to stay above that key level then new highs are likely. A break of support will turn the Trend Average bearish and start a multi-week correction. I am holding my position over the weekend and will only consider trading if 2388 gets breached.

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 = 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 - March 2

The market finally went down more than a few points in today's session. The loss today was the largest this year and it was only 14 points! While it's too early to call for a substantial correction just yet, I am assuming there is a good chance support at 2358 will be tested if the market fails to bounce tomorrow. After a non-stop bullish run for almost 4 months, the market is due for a real pullback.

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 = 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 - March 1

The market really liked Trump's speech last night and reached the 2400 level today. This is the strongest rally we have seen since 2013 and it makes 2500 look like an easy target at this point. At the same time, this 2400 level has been the target for the entire rally that started in 2009. The exact target is actually 2423, so don't be surprised if the market experiences a strong reversal after the euphoria fades. Stock market cap to GDP is running around 130%, which implies a an extremely overbought condition that eventually gets corrected by a strong bear market. Maybe sell in May this year will be stronger than usual?

I ended up holding my short position I bought couple of days ago and looking to again trade the position on the correction unless I see a definite trend reversal move. At least I am just buying regular 1 to 1 shorts and not leveraged or VXX, this rally has the potential to wipe out the riskier short positions.

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 = 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