U.S. Stock Market – Sentiment and Time Dimensions

Within the last few weeks there’s been significant evidence  the upward momentum of U.S. stock indices has been weakening.  Going into mid-May there have been no bearish signals from the sentiment dimension.  On May 18, 2023 there was a bearish sentiment signal that could be very important. First an explanation of the differences between marketContinue reading “U.S. Stock Market – Sentiment and Time Dimensions”

U.S. Stock Indices – Elliott Wave Update

Recently the S&P 500 (SPX) moved above its 05/01/23 peak and invalided one of several alternate Elliott wave counts.  What has not been invalidated is the probability that the U.S. stock market could be on the verge of a multi-month decline.  Elliott wave counts for the SPX and Dow Jones Industrial Average (DJI) provide cluesContinue reading “U.S. Stock Indices – Elliott Wave Update”

Upside Breakouts -05/18/23

On 05/17/23 the Nasdaq Composite (IXIC)  appeared to have an Elliott wave – Ending Diagonal Triangle (EDT) climax throw over.  If this wave count was correct the throw over should have been completely retraced quickly.   On this scale that means today.  There was no retracement and IXIC went higher invalidating the EDT wave count. Additionally,Continue reading “Upside Breakouts -05/18/23”

The Last Gasp for U.S. Stock Bulls?

On 05/16/23 the Nasdaq Composite(IXIC) momentum was bearish, and it appeared that an important top may have been made.  Today  the U.S. stock bulls blasted all three main stock indices higher.  On the surface it looks like this could be the start of a sustained advance.   An examination of the IXIC  – Elliott wave patternContinue reading “The Last Gasp for U.S. Stock Bulls?”

Probable Nasdaq Top – 05/16/23

Today 05/16/23 the Nasdaq Composite (IXIC) was the only one of the three main U.S. Stock indices to exceed its 05/15/23 high.  Throughout the day there were more Nasdaq stocks declining than advancing. The 15 – minute IXIC chart courtesy of Trading View updates the Elliott wave count. The Elliott wave – Ending Diagonal TriangleContinue reading “Probable Nasdaq Top – 05/16/23”

Keep Watching the Nasdaq Composite

The 05/14/23 blog noted  the Nasdaq Composite (IXIC) could be forming an Elliott wave – Ending Diagonal Triangle from its 04/25/23 bottom. The 5- minute IXIC chart courtesy of Trading View updates the Elliott wave count. Ending Diagonal Triangles sub divide into five waves. Each of the five waves further sub divide into three waveContinue reading “Keep Watching the Nasdaq Composite”

Nasdaq Could be Near an Important Top

Recently the Nasdaq Composite (IXIC) has been making new post October 2022 rally highs unaccompanied by the S&P 500 and the Dow Jones Industrial Average.  This by itself is evidence that the U.S. stock  rally from the 10/13/22 bottom is losing strength.  An examination of Nasdaq momentum indicators reveals its rally is weak and aContinue reading “Nasdaq Could be Near an Important Top”

Potential Level to Short the S&P 500

It’s possible the S&P 500 (SPX) made an important top on 05/01/23.  This blog will explain why an SPX top could be in place and one level for shorting the SPX. The three factors imply an important SPX top could be in place. Time cycles. Alternate Elliott wave count. Rule of the majority signal. TimeContinue reading “Potential Level to Short the S&P 500”

Key S&P 500 – Support and Resistance

The 05/10/23- S&P 500 (SPX) trading session was wild and unusual.  The 5 – minute SPX chart courtesy of Trading View illustrates the action. The monthly U.S. – CPI report was released at 8:30 AM – EDT and triggered a huge rally.  Just before the SPX session began at 9:30 AM – EDT, the S&PContinue reading “Key S&P 500 – Support and Resistance”