NYSE New 52 – Week Highs – Update February 2021

The NYSE New 52 – Week Highs ($NYHGH) chart courtesy of StockCharts.com shows the internal momentum of  the NYSE since the start of the secular bull market in March 2009. The five phases roughly correspond to the five peaks within an extended  nine – wave Elliott impulse wave. Phase 1 covers what I’ve labeled asContinue reading “NYSE New 52 – Week Highs – Update February 2021”

US Stocks Push Relentlessly Higher

After the S&P 500 (SPX) 01/26/21 all-time high it appeared a decline lasting at least two weeks with a minimum retracement to SPX 3660 could be underway.  Both targets failed to be reached as ravenous bulls viewed the paltry drop a buying opportunity. The daily SPX chart courtesy of Trading View illustrates RSI Bearish divergences.Continue reading “US Stocks Push Relentlessly Higher”

Could Tesla be the Ultimate Mania Stock?

Several posts on this site have focused on Zoom Video Communications Inc. (ZM) as a possible guide to timing the broader stock market.  The first post about ZM on 10/15/20 “Additional Elliott Wave Confirmation” noted its clear Elliott wave pattern.  Additionally, ZM because of its spectacular growth prior to its all-time high made it aContinue reading “Could Tesla be the Ultimate Mania Stock?”

Nasdaq New High Non-Confirmation

On 01/22/21 the Nasdaq Composite (IXIC) made a new all-time high which was not confirmed by the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI), a bearish divergence.  I call this a “Rule of the majority” signal, meaning the true trend is with the two non-confirming indices. This signal can occur at minor,Continue reading “Nasdaq New High Non-Confirmation”

Bearish Momentum for US Stocks

Today 01/21/21 the S&P 500 (SPX) made a marginal new all-time high. While doing this both external and internal momentum indicators gave clear bearish signals. The daily SPX chart courtesy of Trading View illustrates external momentum indicators. The daily RSI now has a double bearish divergence.  The daily MACD has bearish divergences on lines andContinue reading “Bearish Momentum for US Stocks”

S&P 500 Target Reached – Take Profits and Go Short

From  March 2009 to January 2010 the S&P 500 (SPX) had a growth rate of 72.5%. Projecting that portion of the secular bull market kickoff phase to the supposed termination phase that began in March 2020 targeted SPX 3781. The daily SPX chart courtesy of Trading View illustrates bearish momentum divergences. Today 01/06/21 the SPXContinue reading “S&P 500 Target Reached – Take Profits and Go Short”

The Message of Zoom’s Underperformance

Throughout most of 2020 Zoom Video Communications Inc. (ZM) had outperform the US stock market. Its spectacular upside performance made it not only a market leader but also a star of the bull run.  That situation change after 10/19/20 which was the all-time high for ZM.  The first ZM post was on 10/15/20 “Additional ElliottContinue reading “The Message of Zoom’s Underperformance”

Bullish Booster Shot for US Stocks

On 12/04/20 all three main US stock indices made new all-time highs which is a bullish momentum signal.  Additionally, underneath the surface the number of new 52 – week highs for both the New York Stock Exchange (NYSE) and the Nasdaq Composite registered bullish signals. The 09/05/20 post “NYSE-New – 52 – Week Highs” illustratedContinue reading “Bullish Booster Shot for US Stocks”

NYSE – New – 52 – Week Highs – Update

The 09/08/20 post “NYSE – New – 52 – Week Highs” illustrated the history of NYSE 52 – week highs of the secular bull market in US stocks since March 2009.  Separating the bull market into five phases showed that the maximum number of NYSE – new 52 – week highs occurred in phase 2. Continue reading “NYSE – New – 52 – Week Highs – Update”

Qualcomm in 2000 and Zoom in 2020

This is an educational post to explain stock market momentum. The 11/17/20 blog “Zoom Update – Part Two” noted that Zoom Video Communications Inc. (ZM) could be a signal for a looming bear market similar to Qualcomm Inc. (QCOM) in 2000. The daily QCOM and S&P 500 (SPX) chart courtesy of Trading View illustrates whatContinue reading “Qualcomm in 2000 and Zoom in 2020”