Wednesday, October 18, 2017

Elliott Wave Stock Market Update - October 18






















The market made its 7th consecutive ATH in today's break-out attempt. However, unless we see more upside tomorrow in a strong bullish wave, there is a high chance for a market drop. How much the market will pullback remains the main question.

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

Tuesday, October 17, 2017

Elliott Wave Stock Market Update - October 17






















The market made another new high today, the sixth consecutive marginally higher ATH in as many days. What is interesting is that all the higher highs have come in a 4 point range. The rising wedge is still in play and only a convincing break out would invalidate this topping pattern. If the market does intend to breakout, it should be tomorrow.

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

Monday, October 16, 2017

Elliott Wave Stock Market Update - October 16






















The market made another ATH, this time just 1 point shy of the 2560 target mentioned last month. The price pattern continues to point to a rising wedge, so perhaps we will see another marginally higher high and then a stronger correction.

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

Friday, October 13, 2017

Elliott Wave Stock Market Update - October 13






















The market made another new ATH today, the third consecutive marginally higher high. But now a rising wedge has formed, which points to a correction coming if the lower trend line is broken. Looking the waves, the count that started at 2417 in August would look best if we had a proper intermediate W4 correction and then another push to another high. So, the coming pullback will either be a shallow one (W4) or a substantial sell-off from a significant top. I am raising my stop on gold to above break-even and I am sure it will continue to rise if I am right on the correction.

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

Thursday, October 12, 2017

Elliott Wave Stock Market Update - October 12






















The market managed to make another marginal higher ATH today and if a bigger impulse is to come, 2541 can not be breached on a pullback in the next few days. If support is not breached, then we should see buying accelerate and push the index towards the 2560-2570 level. Given the high at 2555 and the original target I mentioned exactly a month ago being 2560, the market could be done with the entire structure since there are enough waves in place. My gold has done well and should continue much higher if we see a bigger correction in equities in the next few days.

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

Wednesday, October 11, 2017

Elliott Wave Stock Market Update - October 11






















The market made a new ATH by 1 cent and the advance could continue tomorrow to higher highs. The current wave structure that started at 2488 is nearing its completion with the current 5th wave and a stronger pullback should come once the count is finished.

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

Tuesday, October 10, 2017

Elliott Wave Stock Market Update - October 10






















The market seems to have finished its sideways correction and we could see a push towards new ATH as soon as tomorrow. The alternative is more consolidation but I think enough time has passed for another push tomorrow. I went long gold yesterday right after I finished updating, so I am looking forward to some volatility this or next week.

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