On 11/16/23 Crude Oil appears to have made an intermediate degree bottom. The daily Crude Oil futures continuous contract (CL2!) courtesy of Trading View shows the progress of its decline since 09/28/23. The decline counts as a five – wave Elliott Impulse pattern. There’s a bullish MACD – Histogram divergence. RSI has moved above itsContinue reading “Crude Oil Update – 11/17/23”
Category Archives: Momentum
Near – Term S&P 500 Momentum
Today 11/15/23 the S&P 500 (SPX) continued its relentless rally in what appears to be a still developing Elliott wave impulse pattern.The daily SPX chart courtesy of Trading View illustrates two – external momentum indicators. The RSI has reached 68.28, the overbought zone starts at 70.00, and so far there’s no momentum divergence. MACD –Continue reading “Near – Term S&P 500 Momentum”
S&P 500 – Elliott Wave Count – 11/10/23
The S&P 500 (SPX) may have completed an important Elliott Wave pattern. The 3 – hour SPX chart courtesy of Trading View illustrates the most likely Elliott wave count from late July 2023. The SPX decline from 07/27/23 to 10/27/23 appears to be an Elliott wave – Leading Diagonal Triangle (LDT). This structure only occurs Continue reading ” S&P 500 – Elliott Wave Count – 11/10/23″
At the Intersection
On 11/09/23 the sharp plunge in U.S. stocks looked like the start of at least a multi-day decline. Today 11/10/23 the bulls replied with a persistent rally throughout the trading session. The daily Dow Jones Industrial Average chart courtesy of BigCharts.com shows the position of its moving average lines. The 50 – day moving averageContinue reading “At the Intersection”
Watching for a Death Cross
Today 11/08/23 the Dow Jones Industrial Average (DJIA) 200 – day moving average (MA) and its 50 – day MA were only 39 – points apart. On 11/07/23 the lines were 55 – points apart. A move of the 50 – day MA below the 200 – day MA – know as a “Death Cross” Continue reading “Watching for a Death Cross”
Sentiment and Momentum Readings for U.S. Stocks – October 2023
Stock market bottoms prior to at least multi- month rallies occur in two ways. After a sudden and sharp decline, such as the 2020 crash. Or after a multi month drop like the January to October 2022 bear phase. The sentiment and momentum readings from U.S. Stocks in late October 2023 provide insight to theContinue reading “Sentiment and Momentum Readings for U.S. Stocks – October 2023”
Straight Up
The U.S. stock rally from 10/27/23 could be the first phase of a bull move into late November 2023. Momentum evidence implies a move down during the week of 11/06/23 to 11/10/23. The daily Dow Jones Industrial Average (DJIA) chart courtesy of BigCharts.com updates the potential “Death Cross” and momentum. On 11/03/23 the DJIA –Continue reading “Straight Up”
An Approaching Death Cross – Part Three
Today 11/02/23 U.S. had a persistent rally throughout the main trading session. The Dow Jones Industrial Average – Bigcharts.com symbol (DJIA) 50 – day – moving average (MA) moved closer to its 200 – day MA. If there’s a “Death Cross” it could be giving a bearish signal after a bottom is in place. TheContinue reading “An Approaching Death Cross – Part Three”
An Approaching Death Cross – Part Two
The 10/28/23 blog “Approaching Death Cross” noted that the Dow Jones Industrial Average (DJIA) 50 – day moving average (MA) could cross below its 200 – day MA. This is known as a “Death Cross”. Today 11/01/23 the DJIA moving average lines moved closer to a cross. A very important DJIA top could occur inContinue reading “An Approaching Death Cross – Part Two”
U.S. Stocks in Steady Decline
Today 10/26/23 all three main U.S. stock indices made new post July 2023 decline lows; the drop could continue into at least early November. The daily S&P 500 (SPX) chart courtesy of Trading View updates the action. The 10/25/23 blog “Support Breaks Without a Panic” noted there was a bullish SPX – RSI divergence vs.Continue reading “U.S. Stocks in Steady Decline”
Four Dimension Trading 