Recent action from Gold (XAUUSD) and Silver (XAGUSD) suggests they both may have begun multi – week declines. The 06/30/24 blog “Gold – Point & Figure Analysis – 06/28/24” illustrated that Gold had important support at 2,277.43. Subsequently Gold rallied and made a new all-time high. The weekly Gold (XAUUSD) chart courtesy of Trading ViewContinue reading “Bearish Message from Gold and Silver”
Category Archives: Momentum
Comparisons of the S&P 500 in 2018 and 2024
In early 2018 the S&P 500 (SPX) had a blow off top. Mid-2024 could be a repeat of that spectacular peak. The daily SPX chart courtesy of Trading View shows what happened from late 2017 to early 2018. In the final 37 – trading days of the bull run – late 2017 to early 2018Continue reading “Comparisons of the S&P 500 in 2018 and 2024”
Bargain Hunting
In the early 1960’s the late great market analyst Richard Russell wrote about a phenomenon that occurs near the end of stock bull markets. The phenomenon is an upward surge of small cap stocks. As a stock bull market develops many stocks are in extended rallies, making it difficult to find new stocks to buy. Continue reading “Bargain Hunting”
In the Zone and Overbought
The 07/08/24 blog “Major S&P 500 – Fibonacci Resistance” noted long – term resistance at 5,615.63. On 07/11/24 the S&P 500 (SPX) high was 5,642.45 within leeway of the bullseye target. The weekly SPX chart courtesy of Trading View illustrates the long-term action. The bullseye target of 5,615.63 was calculated by taking a Fibonacci .382Continue reading ” In the Zone and Overbought”
Stock Market Participation Could be the Weakest in U.S. History
On 07/05/24 the S&P 500 (SPX) rallied .55% and made a new all-time high. The Nasdaq Composite (IXIC) rallied .90% and made a new all-time high. On the same day only 35% of NYSE stocks advanced while 63% of stocks declined. The Nasdaq had 43% of stocks advance vs. 54% decline. Not the first instanceContinue reading “Stock Market Participation Could be the Weakest in U.S. History”
Another Key Reversal Day
On the Summer Solstice 06/20/24 the Nasdaq Composite (IXIC) had a key reversal day as it made an all-time high. That top did not hold and on 06/28/24 the IXIC made another all-time high key reversal, this time accompanied by the S&P 500 (SPX). The daily SPX chart courtesy of Trading View illustrates the actionContinue reading “Another Key Reversal Day”
Long – Term Analysis of Asian Stock Markets
Four Asian stock markets reveal interesting long-term patterns. The weekly Vietnan Stock Index (VN30) courtesy of Trading View shows its action since 2021. The VN30 – November 2021 to November 2022 decline formed an extended Elliott wave Impulse pattern, which implies the first phase of a larger developing bear market. Note that the subsequent bullContinue reading “Long – Term Analysis of Asian Stock Markets”
Nvidia and the Strawberry Moon
On 06/20/24 both Nvidia Corporation (NVDA) and the Nasdaq Composite had Key Reversal days. A key reversal does not occur very often but is very reliable when it does. After an up-trend: The Open must be above yesterday’s Close, The day must make a new High, and The Close must be below yesterday’s Low. TheContinue reading ” Nvidia and the Strawberry Moon”
S&P 500 – Hits Long – Term Trendline – 06/18/24
The 06/12/24 blog “The Incredible Shrinking U.S. Stock Market” illustrated that the S&P 500 (SPX) could find resistance at the rising trendline connecting the peaks made on 07/27/23 and 03/28/24. Also noted “In the next few trading days this line is in the area of SPX 5,470 to 5,480”. It took the SPX more thanContinue reading “S&P 500 – Hits Long – Term Trendline – 06/18/24”
The Amazing Colossal Divergence!
The 06/13/24 blog “Quality Divergence” examined the short-term bearish divergence between the Dow Jones Industrial Average (DJI) and the Nasdaq Composite (IXIC). The 06/12/24 blog “The Incredible Shrinking U.S. Stock Market” illustrated the intermediate degree bearish divergence between the IXIC and Nasdaq new highs. Both of these important indicators are puny compared to the amazingContinue reading “The Amazing Colossal Divergence!”
Four Dimension Trading 