On 08/16/24 the S&P 500 (SPX) came within 4.19 points of completing a presumed Inverse Expanding Flat correction. This pattern could be complete in the next three trading days. The one – hour SPX chart courtesy of Trading View updates the action from the all-time high made on 07/16/24. The 08/15/24 blog “S&P 500 –Continue reading “Approaching Price and Time Zones – 08/16/24”
Category Archives: Momentum
Super Bearish Message from Gold and Silver
The 07/21/214 blog “Bearish Message from Gold and Silver” noted considerable evidence that both precious metals could soon begin a multi-week decline. Since then, Gold (XAUUSD) has exceeded its mid – July 2024 peak, while Silver (XAGUSD) continues to lag on the upside. A severe downward shift for both metals could be imminent. The weeklyContinue reading “Super Bearish Message from Gold and Silver”
S&P 500 – Short-Term Elliott Wave Count – 08/15/24
The S&P 500 is pushing through chart resistance in the low 5,500 area and short -term momentum is still bullish. Short – Term Elliott wave analysis could provide a road map to near -term action. The one- hour SPX chart courtesy of Trading View updates short-term momentum. On 08/15/24 the one – hour RSI pushedContinue reading “S&P 500 – Short-Term Elliott Wave Count – 08/15/24”
Breaking Through the Ceiling – 08/14/24
The 08/10/24 blog “S&P 500 – Short – Term Resistance” illustrated strong resistance in the S&P 500 (SPX) area of 5,390 to 5,397. Also noted “A move above 5,400 could quickly propel the SPX up to the low 5,500 area”. On 08/13/24 the SPX did move above 5,400 and is now close to the nextContinue reading “Breaking Through the Ceiling – 08/14/24”
S&P 500 – Short – Term Resistance – 08/09/24
Recent sentiment and momentum evidence suggest the S&P 500 (SPX) could rally into mid – September 2024. Fibonacci analysis indicates an important barrier the bulls need to overcome. First a look at short -term momentum. The daily SPX chart courtesy of BigCharts.com illustrates some interesting clues. The BigCharts.com Slow Stochastic is very effective in catchingContinue reading “S&P 500 – Short – Term Resistance – 08/09/24”
Support Areas for S&P 500 – August 2024
Volume Profile analysis indicates where the S&P 500 could find support during the month of August 2024. Volume Profile puts market volume on a vertical axis which illustrate where volume is relative to price. The wider the volume bar the greater the potential support/resistance. The widest volume bar is called “Point of Control” (POC). TheContinue reading “Support Areas for S&P 500 – August 2024”
U.S. 30 – Year Treasury Yield – Elliott Wave Count – 08/02/24
Yield/rate for U.S. 30 – Year Treasury bonds could make an important bottom late August to early September 2024. The 02/01/24 blog “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24” illustrated that a short-term rally of U.S. 30 – year Treasury yield (TYX) could be complete, and the next phase downContinue reading “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 08/02/24”
Could August be an Awful Month for Stock Bulls?
Sometimes a market trend can change in as little as a 30 – minute bar. Longer – term changes can come on the cusp of a new year, or perhaps a new month. U.S. stocks started August 2024 with a vicious downturn. The daily S&P 500 (SPX) chart courtesy of BigCharts.com shows the action sinceContinue reading “Could August be an Awful Month for Stock Bulls?”
Nasdaq 100 – Elliott Wave Count – 07/31/24
The Nasdaq 100 (NDX) is at a crossroads. The action on 08/01/24 could determine the near – term course for U.S . stocks. The daily NDX chart courtesy of Trading View shows the first alternate Elliott wave count. The NDX from its 07/10/24 all-time high has a very clear Elliott wave count. The general formContinue reading “Nasdaq 100 – Elliott Wave Count – 07/31/24”
Nasdaq 100 – the New Downside Leader
Throughout the 2024 U.S. stock rally the Nasdaq Composite and its sub index Nasdaq 100 (NDX) were the upside leaders. Since their respective all-time highs things have been different. The performance of the three main U.S. stock indices and NDX from their all-time highs to their recent decline bottoms are as follows. Dow Jones IndustrialContinue reading “Nasdaq 100 – the New Downside Leader”
Four Dimension Trading 