Category Archives: Momentum

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.”

Apple Inc. Major Downside Break

On 03/01/24 Apple Inc. (AAPL) broke below important support and  could soon drop to its October 2023 bottom. The daily AAPL chart courtesy of Trading View shows what happened. The 02/15/24 blog “Apple Inc. Downside Rollover” noted AAPL had a double bottom with the key point at 179.25.  This level was pierced on 03/01/24 alongContinue reading “Apple Inc. Major Downside Break”

Alphabet Inc. Major Downside Break

Alphabet Inc. (GOOGL) has broken below trendline and chart support.  This downside move has bearish implications for the stock and perhaps the broader U.S. stock market. The 02/25/24 blog “Three Magnificent Stocks”   examined the technical situation for GOOGL and noted.  “A move below the lower rising trendline and first chart support at 139.49 could  openContinue reading “Alphabet Inc. Major Downside Break”

Three Magnificent Stocks to Watch

In the late stage of a stock bull market fewer and fewer stocks participate in the rally.  This phenomenon can be viewed in the “Magnificent Seven Stocks”.   Soon, if one or two of these seven stock breaks to the downside, it could trigger a significant decline in the broader U.S. stock market.  The Magnificent SevenContinue reading “Three Magnificent Stocks to Watch”

Intraday Examination of the S&P 500

On 02/13/24 the U.S. stock market had a large steep decline.   Subsequently the three main U.S. stock indices have rallied with the S&P 500 (SPX) being the strongest, on 02/16/24 it was only 9.69 points from its all-time high.  The SPX ended the session down, just above important intraday support. The 15 – minute SPXContinue reading “Intraday Examination of the S&P 500”

U.S. Stock Market Momentum and Sentiment – 02/09/24

On 02/09/24 the S&P 500 (SPX) and Nasdaq Composite made new post October 2022 rally highs.  Momentum and sentiment readings were extremely bearish suggesting an approaching decline for U.S. stocks.  The daily NYSE – 52 – week high ($MAHN) chart courtesy of Barchart.com illustrates internal momentum for the U.S. stock market. As the stock marketContinue reading “U.S. Stock Market Momentum and Sentiment – 02/09/24”

The Big Picture for U.S. Stocks – February 2024

As stock bull markets progress, investor optimism grows and usually peaks near market tops.  Correspondingly momentum wanes as the stock market climbs.  Stocks discount the future, and the stocks of smaller/weaker companies are the first to falter in anticipation of economic weakness.  The higher a stock index climbs the number of stocks participating in theContinue reading “The Big Picture for U.S. Stocks – February 2024”

U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24

The 12/28/23 blog “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 12/28/23” noted. “An intermediate bottom for 30 – year U.S. Treasury Yields could be in place”. A bottom for the 30- year U.S Treasury Yield (TYX) was in place and the subsequent rally appears to be complete.  The  next wave downContinue reading “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24”