The 09/17/23 Blog “Crude Oil Elliott Wave Pattern – 09/15/23” noted that an Elliott wave – Inverse Expanding Flat could be nearing completion, with a broad topping zone of 91.50 to 94.80. Bullseye target at 94.31. The 09/27/23 blog “Crude Oli in Topping Zone” noted Crude Oil could hit the daily rising trend line andContinue reading “Probable Crude Oil Top – 09/28/23”
Category Archives: Momentum
Crude Oil in Topping Zone
The 09/17/23 blog “Crude Oil Elliott Wave Pattern 09/15/23” noted that Crude Oil – Continuous Futures (CL2!) could make a significant top in the 91.50 to 94.80 zone. On 09/27/23 – CL2! – entered the topping zone. The daily CL2! – chart courtesy of Trading View updates the action. It now appears that the peakContinue reading “Crude Oil in Topping Zone”
Energy Sector Stocks May Have Peaked
The 09/17/23 blog “Crude Oil Elliott Wave Pattern – 09/15/23” noted that an important Crude Oil top could occur in a few trading days. Recent action of the Energy sector exchange traded fund (XLE) indicates they may have topped on 09/14/23. Since the S&P 500 (SPX) all-time high in January 2022, both the XLE andContinue reading “Energy Sector Stocks May Have Peaked”
Crude Oil Elliott Wave Pattern – 09/15/23
The 04/16/23 blog “Crude Oil Elliott Wave Pattern – 04/14/23” illustrated that Crude Oil – Continuous Futures (CL2!) had completed a Primary degree Elliott Impulse wave at 64.58 on 03/20/23. Subsequently Crude Oil rallied and then made a marginal new low at 63.60 on 05/04/23. The 05/07/23 blog “Crude Oil Update – 05/05/23” updated theContinue reading ” Crude Oil Elliott Wave Pattern – 09/15/23″
S&P 500 – Momentum Update – 09/15/23
The prior blog “S&P 500 – Upside Target Hit – 09/14/23” noted “There’s a good chance the SPX made an important top at 4,511.99. If so U.S. stocks could begin a sharp and deep multi- week decline.” On 09/15/23 the S&P 500 (SPX) fell more than 54 – points. Weekly and daily SPX momentum oscillatorsContinue reading “S&P 500 – Momentum Update – 09/15/23”
Nvidia Corporation Update – 09/08/23
Nvidia Corporation (NVDA) bearish technical situation was illustrated in the 08/13/23 blog “Follow the Leaders”. Since then, the technical condition of the stock has gotten more bearish. The weekly NVDA chart courtesy of Trading View illustrates the action since 2022. In bull markets there are usually one or two stocks that are spectacular upside leaders. Continue reading “Nvidia Corporation Update – 09/08/23”
S&P 500 Continues to Decline – 09/07/23
Daily momentum for the S&P 500 (SPX) implies more downside action. The daily SPX chart courtesy of Trading View updates the action. Daily Stochastic had a bearish lines cross three – trading days ago and the lines are in the upper part of the neutral zone. Today 09/07/23 RSI crossed below its moving average line.Continue reading “S&P 500 Continues to Decline – 09/07/23”
Turn the Calendar, Turn the Tide?
September is seasonally the most bearish month for stocks. The 08/31/23 bog “It’s About Time” noted, “Today 08/31/23 there’s a Full moon. The U.S. monthly payroll report is due at 8:30 AM – EDT – 09/01/23. Labor day is 09/04/23. Daily SPX – Stochastic is in the overbought zone. U.S. Stocks may have made anContinue reading “Turn the Calendar, Turn the Tide?”
Massive Consumer Staples Divergence
In U.S stock bull markets most sectors will trend with the main U.S. stock indices. Since May of 2023 the Consumer Staples – ETF (XLP) has been lagging the S&P 500 (SPX). The bearish divergence of this important sector is another sign that U.S stocks could be on the cusp of a sharp and deepContinue reading “Massive Consumer Staples Divergence”
Possible Counter Trend Peak for U.S. Stocks – 08/30/23
The Nasdaq Composite (IXIC) declined from 07/19/23 to 08/18/23. On 08/30/23 the IXIC and the other two main U.S. stock indices may have made tops in a developing bear trend. The 08/26/23 blog “Nasdaq Composite Elliott Wave Count – 08/25/23” illustrated a potential resistance zone from 13,900 to 13,980. The IXIC – two-hour chart courtesyContinue reading “Possible Counter Trend Peak for U.S. Stocks – 08/30/23”
Four Dimension Trading 