The Russell 2000 (RUT) small cap stock index has declined 5.5% since its 03/28/24 peak. From its 03/21/24 top the Dow Jones Industrial Average has fallen close to 4%. The Nasdaq Composite from 03/21/24 to 04/10/24 is down 2.3%. The S&P 500 from its 03/28/24 top has declined 2.4%. The daily RUT chart courtesy ofContinue reading “Russell 2000 – Leading the Way Down”
Category Archives: Momentum
Two Characteristics of a High Probability Winning Trade
One market currently has two factors that strongly imply at least a one-month bull run. That market is Soybeans. Most of the information about the current Soybean bullish set up comes from a recent interview with the legendary trader, author, and market analyst Larry Williams. The weekly continuous Soybean chart courtesy of Barchart.com illustrates theContinue reading “Two Characteristics of a High Probability Winning Trade”
Bearish Rule of the Majority Signal – 03/28/24
On 03/28/24 of the three main U.S. stock indices only the S&P 500 (SPX) made a new all-time high. The daily SPX, Dow Jones Industrial Average (DJI), and Nasdaq Composite (IXIC) chart courtesy of Trading View illustrates their relationship. When only one of the three main U.S. stock indices makes a new/high unconfirmed by theContinue reading “Bearish Rule of the Majority Signal – 03/28/24”
March 25, 2024 – Day of Decision?
This websites prior blog noted. “If on 03/22/24 the SPX moves below the 03/21/24 low – it increases the chance that a very important top may have been made at the 03/21/24 high.” On 03/22/24 the S&P 500 (SPX) did move below its 03/21/24 low. The 5 – minute SPX courtesy of Trading View showsContinue reading ” March 25, 2024 – Day of Decision?”
S&P 500 Reaches Resistance Zone- 03/21/24
The post U.S. – FOMC rally has brought the S&P 500 (SPX) to a potentially very important resistance zone. The daily SPX chart courtesy of BigCharts.com shows the big picture. Today the SPX came close to hitting the rising trendline connecting the peaks of Minor waves “1” and “3” of the rally from the 10/27/23Continue reading “S&P 500 Reaches Resistance Zone- 03/21/24”
Thrusting Towards Resistance
In two or three trading days the S&P 500 (SPX) could reach important resistance. This websites 03/18/24 blog noted. “It’s possible the presumed Horizontal Triangle could be complete at the 03/18/24 low. More likely the SPX could trend down until sometime before the U.S. FOMC announcement due 2:00 PM – EDT on 03/20/24.” Also illustratedContinue reading “Thrusting Towards Resistance”
Short- Term S&P 500 – Elliott Wave Count – 03/15/24
The 03/13/24 blog “S&P 500 – Elliott Wave Pattern From October 2023” illustrated that the S&P 500 (SPX) may have completed a Minor wave “4” decline on 03/11/24. Subsequent action suggests Minor wave “4” could still be developing. The 30-minute SPX chart courtesy of Trading View illustrates the action since late 2023. Within five –Continue reading “Short- Term S&P 500 – Elliott Wave Count – 03/15/24”
Nvidia – Long -Term Elliott Wave Count
In the current cycle Nvidia Corporation (NVDA) is probably the king of all U.S. stocks. Long -term Elliott wave analysis suggests NVDA could soon begin a multi – month decline. The monthly NVDA chart courtesy of Trading View illustrates its progress from the November 2008 bottom. NVDA has formed an extended Elliott wave Impulse pattern. Continue reading “Nvidia – Long -Term Elliott Wave Count”
U.S. Stock Market Momentum – 03/08/24
Longer -term U.S. stocks are in the area of a potential major top. Shorter – term there could be more upside action. The daily S&P 500 (SPX) chart courtesy of BIgCharts.com updates the short-term view. The 03/07/24 blog illustrated the Slow Stochastic lines intersecting. There’s now a bullish crossover below the overbought zone which beginsContinue reading “U.S. Stock Market Momentum – 03/08/24”
Stock Buying Mania Continues – 03/07/24.
Short-term bullish signals imply U.S. stocks could continue to rise. The daily S&P 500 (SPX) chart courtesy of BigCharts.com updates the action. Today the SPX went above its 03/04/24 high. This move changes the Elliott wave count showing five waves up from 0/27/23 to 03/04/24. There are now several alternate wave counts, further price actionContinue reading “Stock Buying Mania Continues – 03/07/24.”
Four Dimension Trading 