Wednesday, August 16, 2017

Elliott Wave Stock Market Update - August 19






















Prices reached a higher high today but stopped right at the 2474 resistance level. The pattern in place could go both ways since clearing resistance would lead to a breakout to new ATH, while a break of support at 2461 should lead to a test of last week's low at 2437 or lower. Given the negative bias, I assume prices will head lower as long as the high today does not get taken out. There is no shortage of excuses to sell given the latest Trump political reality show.

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


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

Tuesday, August 15, 2017

Elliott Wave Stock Market Update - August 15






















Prices consolidated sideways today and looks like it will go higher if the 2461 low holds. Once this wave is done, we should see the bears come back and try to take out the low made last week. Maybe Trump or Kim Jun will help their cause. I just hope things don't get out of hand as these two seem to be very volatile, which should be a cause for real concern for everybody.

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

Monday, August 14, 2017

Elliott Wave Stock Market Update - August 14






















The market rallied substantially today towards the Trend Average and this invalidated the bearish 5 count I had originally posted. That doesn't mean 2407 is out of the question, as the market could be just bouncing on a B or bearish W2 wave. Also, the TA continues to be bearish and further selling could come as soon as tomorrow or Wednesday. With that said, if bulls manage to start closing above the TA, then we could be in for another sideways correction.

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

Friday, August 11, 2017

Elliott Wave Stock Market Update - August 11






















The market ended the day basically flat after trying to counter-rally earlier in the morning. This goes well with the posted count and another bearish wave to test the 2407 level would be ideal to finalize the count. Just a little bit more talk from Trump or Kim Jun Un and the market will have enough of an excuse. Technically speaking, there are plenty of excuses to sell since these two are not stopping anytime soon. Seems like Kim Jun Un has met his match! I will be going long equities next week if I see a set up and possibly sell gold to lock in gains as prices are pushing $1300.

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 = 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


Thursday, August 10, 2017

Elliott Wave Stock Market Update - August 10






















The market continued to sell off today and now that support has broken, this sell-off could turn into the biggest correction this year. There is some support at 2439 but I think there is enough bearish momentum for prices to test the 2407 level before any significant bounce. In fact, I wouldn't mind going long as close as possible to at 2407 and set a short stop to play the counter-rally. My gold position is doing well and it looks like gold prices are headed towards 1300 sooner than I thought, so I am planning to get the most out of it.

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

Wednesday, August 9, 2017

Elliott Wave Stock Market Update - August 9






















The market has counter-rallied today but it still ended up closing below the Trend Average, which has now turned bearish. However, until I see 2459 low cleared, I wouldn't assume a real correction is taking place. I think it will take actual military action against North Korea to really send the markets into a sell-off, so for now, the whole North Korea event is just being used as an excuse to lock in profit. I will keep the gold I just bought until the trend reverses or hits 1300, whichever comes first.

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

Tuesday, August 8, 2017

Elliott Wave Stock Market Update - August 8






















The market broke out of the triangle to make new ATH as expected and managed to top and invalidate the most bullish set up towards the end of the session. While the trend continues to be bullish, the close was under the TA and a breach of support levels created by the triangle will confirm a bigger correction. I ended up buying back the gold I sold last week in case selling in equities gains traction.

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