Elliott Wave Stock Market Update - September 26th

The market staged a strong counter-rally on Friday but still lost -1.11% for the week. A lower low at 3209 was made and whether this low breaks this coming week will be critical for the uptrend that started in March. Looking at the charts, there could still be one more bullish leg left before another bear market comes, so this coming week will be important to watch for clues. By now, it seems the market simply refuses to acknowledge the effects of the coronavirus so I am not sure whether the coming spike in cases will do anything to the market. However, if Trump refuses to concede or makes things chaotic in November then it will be a good reason for the market to go into the next bear market. Looking at the man, my bet is he will not acknowledge losing. Just like he constantly refuses to acknowledge the polls and calls the Nov election rigged and unfair. Sounds like a nightmare slowly coming true.. just when you thought 2020 was already bad enough.

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

Elliott Wave Stock Market Update - September 21st

 

I meant to update the site last night but I forgot. This is what I added to EWA over the weekend;

"The market closed the week down -0.64% but support at 3310 was breached on Friday and this opens the possibility of strong selling in the next few sessions. If prices fall below 3310, the next level of significant support is 3100."

Today, the market experienced substantial selling, and anything short of a strong rebound to the 3400's sets up the market for a continued strong sell-off. 

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

Elliott Wave Stock Market Update - September 12th

 

The market has continued to make lower lows and just barely closed over its 50 DMA at 3321. If prices fall below the 50 DMA, we should see selling accelerate to test the 3100 level. If prices are able to bounce off from last week's lows then it still has a chance to making another ATH before the "top" is in. Whatever the case, substantial selling will come in the next few weeks or few months and bring prices down to levels that actually reflect a recession. It's a waiting game but I think it will ultimately pay off very well. 

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

Elliott Wave Stock Market Update - September 1st

 

I forgot to add the update over the weekend. This coronavirus situation has really messed up my schedule. However, there isn't much to add anyway other than as long as the market trades above the Trend Average we can expect new all-time highs. Looking at the wave, I can see that it is close to completion and whether a major pullback starts to take place then remains to be seen. But from the look of things, we could see the rally rage out of control as if we were in a booming economy with the greatest President EVER! lol. My bet is reality will hit the fan sometime before the elections and until then, I am out of the US market.

Short Term Trendd = Bullish
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

Elliott Wave Stock Market Update - August 22nd

The market closed the week at a new all-time high as expected and if TA remains bullish, we will see new records this coming week. I think we are getting closer to a top but whether the drop happens this month, next, or even October remains to be seen. I am back to all cash on my US position and waiting for this big drop so I hope I am right on this one. Tops are notoriously hard to predict (relative to bottoms) but I am going by technicals as well as the fundamentals for the economy. So far, the recession has not been priced in at all. If anything, one would think we are having a 2% GDP growth this year.. crazy.

Short Term Trendd = Bullish
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

Elliott Wave Stock Market Update - August 15th

The market closed the week challenging all-time highs as expected. If the TA remains bullish, we will see new all-time highs in the next week or two. How much higher it will go it's anyone's guess but I believe we are close to a significant top. Not only is the market technically overbought but there are plenty of reasons of why the market will sell off. We are in a deep recession, a national health catastrophe and now a wanna-be dictator who is deliberately trying to steal an election by sabotaging voting. Hopefully, 2021 will be a completely different!

Short Term Trendd = Bullish
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

Elliott Wave Stock Market Update - August 8th

The market closed the week up +2.45% and is now headed towards an ATH challenge. In fact, if the TA remains bullish, we should see new all-time highs in the next week or two. It's such insane event if you take into consideration we just crossed 5 million coronavirus cases and the projection is now 300K deaths by December. That's more Americans dying than all wars combined since WW2 but it seems like the pandemic is not registering just yet. But as I've been saying, the time will come when all of a sudden the market realizes we are actually in a deep recession and reflect that in the numbers. Until then, the madness will continue.

Short Term Trendd = Bullish
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