Bull Market Rally vs. Bear Market Rally

In bull market rallies stock indices trend together.  Making new highs at about the same time and declining together.  Moves up during large bear markets tend to be more erratic. A comparison of the post October 2022 U.S. stock market rally with a prior bullish phase reveals some interesting insights. The U.S. stock rally thatContinue reading “Bull Market Rally vs. Bear Market Rally”

Divergences Continue – 06/01/23.

Today 06/01/23 the S&P 500 (SPX) made a new post October 2022 rally high unaccompanied by either the Dow Jones Industrial Average, or the Nasdaq Composite.  A bearish “Rule of the majority signal.  Additionally, the VIX low today was 15.58 vs. its 05/01/23 reading of 15.53.  This higher VIX bottom retains the VIX topping signal.Continue reading “Divergences Continue – 06/01/23.”

Philippines Stock Exchange – Break Below Important Support

The Philippines Stock Exchange Index (PSEI) broke below a short-term rising trendline and the 05/26/23 bottom at 6,496.47.  This low is also close to a Fibonacci .618 retracement of the 03/16/23 to 05/08/23 rally.  The daily PSEI chart courtesy of Trading View updates the action. The break of support implies a short – term moveContinue reading “Philippines Stock Exchange – Break Below Important Support”

          Outrageous Bearish Divergences – 05/26/23

On 05/26/23 the Nasdaq Composite (IXIC) was the only one of the three main U.S. stock indices to make a new post October 2022 rally high.  The S&P 500 (SPX) 05/26/23 high was 4,212.87, its 05/19/23 post October 2023 rally high was 4,212.91 a difference of only 4 – ticks!  This is an example ofContinue reading ”          Outrageous Bearish Divergences – 05/26/23″

Philippines Stock Exchange Important Support Levels

The Philippines Stock Exchange Index (PSEI) is nearing two support levels.  A break below both these levels could open the door to a multi-month decline. The daily PSEI and S&P 500 (SPX) courtesy of Trading View illustrates their recent action. In the last few weeks, it appeared  the PSEI could rally into Fibonacci resistance atContinue reading “Philippines Stock Exchange Important Support Levels”

This Could be the Start of Something Big

The something big could be a multi – month decline to at least the S&P 500 (SPX) October 2022 bottom. The SPX 15 –minute chart courtesy of Trading View examines the short – term picture. The SPX drop from its 05/19/23 top appears to be a developing  Elliott impulse wave and today, 05/24/23 broke belowContinue reading “This Could be the Start of Something Big”