The Most Bullish U.S Stock Sector

Of the twelve SPDR Sector Select ETF’s the most bullish is the Energy sector fund (XLE).  From the first trading day of 2022 – 01/03/22 to 01/27/23 the S&P 500 (SPX) is down 14.4%.  The XLE over the same time is up 65.4%.  Assuming the current uptrend in U.S stocks continues, XLE is likely toContinue reading “The Most Bullish U.S Stock Sector”

Fourteen Year Pattern Nearing Completion

Some time in the next few months a major national stock index could be completing an Elliott wave pattern that began in October 2008. One of the most fascinating discoveries that R.N Elliott made about wave theory is that  form remains constant regardless of size.   A wave pattern of five – hours could have theContinue reading “Fourteen Year Pattern Nearing Completion”

Trendline Upside Break Out – 01/25/23.

Today 01/25/23 the S&P 500 (SPX) had its third close above both the declining trendline from January 2022 and its 200 – day moving average (MA). The daily SPX chart courtesy of Trading View updates the action. From a time perspective three closes above the line and the moving average is bullish and implies theContinue reading “Trendline Upside Break Out – 01/25/23.”

Philippine Stock Exchange – Update – 01/20/23

Recently several national stock markets have exhibited bullish signals.  One of the strongest upside markets is the Philippine Stock Exchange (PSEI). The daily PSEI chart courtesy of Trading View illustrates its performance. Since October 2022 the PSEI has outperformed the S&P 500 (SPX) by a wide margin.   From October to December the SPX had aContinue reading “Philippine Stock Exchange – Update – 01/20/23”

Bulls Regain the Momentum

On 01/19/23 the Nasdaq Composite (IXIC) and Russell 2000 exhibited signs of relative bullish strength.  More signals emerged on 01/20/23 that the uptrend in U.S stocks has probably resumed. The daily SPX chart courtesy of Trading View updates the action. Daily Stochastic has a bullish crossover and RSI has moved above its moving average line. Continue reading “Bulls Regain the Momentum”

Bearish Counterattack – Part – Two – 01/19/23

On 01/19/23 the S&P 500 (SPX) continued its post 01/17/23 decline with an additional bearish momentum signal implying further downside action. The daily SPX chart courtesy of Trading View updates three momentum indicators. The daily RSI has crossed below its moving average line. Daily Stochastic is far above the oversold zone.  MACD has so farContinue reading “Bearish Counterattack – Part – Two – 01/19/23”

Bearish Counterattack – 01/18/23

Since 1/12/23 the bulls have been on the verge of breaking above important resistance near S&P 500 (SPX)– 4,000.  Today 01/18/23 The bears held the line and counterattacked with strong selling throughout most of the session. The start of a multi- week bear phase?  One indicator could soon give us the answer.  The prior blogContinue reading “Bearish Counterattack – 01/18/23”

Short- Term Momentum Update – 01/13/23

When markets are in a steadily rising trend, bearish momentum divergences will emerge which could later be invalidated.  This phenomenon is occurring with the S&P 500 (SPX).   The  15 -minute SPX chart courtesy of Trading View illustrates its short-term trend. Recent blogs on this website have illustrated that both the SPX – 15 –Continue reading “Short- Term Momentum Update – 01/13/23”

Rare Bullish Momentum Signal

During the trading week ending 01/13/23 the NYSE –  Advance/Decline  line ($NYAD) had a bullish reading  that’s only occurred four times in times the last fourteen – years.  The implications of this signal could mean U.S stocks rally  into March/April 2023.   The weekly $NYAD chart courtesy of StockCharts.com illustrates the action since January 2007.Continue reading “Rare Bullish Momentum Signal”

At the Bear Panic Point

Today 0/12/23 the S&P 500 (SPX) broke above Fibonacci resistance in the 3,970 area then reached the bear panic point close to 4,000.  While short-term momentum continues to suggest a small decline, longer-term momentum implies  a rally that could last for several weeks. The daily SPX chart courtesy of Trading  View  updates the action. TheContinue reading “At the Bear Panic Point”