The 30-minute S&P 500 (SPX) chart courtesy of Trading View illustrates the recent action. At the 04/12/22 low there were double bullish divergences on the 30- minute MACD and RSI. The overall drop since the 03/29/22 high is choppy and characteristic of Elliott wave – Double Zigzag corrective patterns. The SPX Bullish Percent Index brokeContinue reading “S&P 500 Decline is Losing Momentum”
Category Archives: Momentum
Three Paths For the S&P 500 04-11-22
Today 04/11/22 the S&P 500 (SPX) broke below important support at 4450 and opened the door for three possible Elliott wave counts. Two of the counts assume a new bear market is under development. One wave count assumes the SPX drop from 03/29/22 is a correction within an ongoing bull market. The first 30Continue reading “Three Paths For the S&P 500 04-11-22”
Rally into Resistance
On 04/07/22 at mid-day the S&P 500 (SPX) declined to 4450.30 just above the 04/06/22 low at 4450.04. The SPX – 15-minute chart courtesy of Trading View illustrates the action. The subsequent rally peaked at 4521.16 almost a bulls eye hit of the Fibonacci .382 retracement of the 03/29/22 to 04/06/22 decline. The exact .382Continue reading “Rally into Resistance”
Persistent Rally Continues
The 03/23/22 blog “Potential S&P 500 – Support Zones” noted that a shallow bottom could be made soon – perhaps in one or two trading days. As it turned out a bottom was already in place on 03/23/22 as the S&P 500 (SPX), the Nasdaq Composite and Dow Jones Industrial Average have subsequently made newContinue reading “Persistent Rally Continues”
Diverging Trendlines
The main characteristic of an Elliott wave – Ending Diagonal Triangle is it’s wedge shape between converging trendlines. The supposed S&P 500 (SPX) Ending Diagonal Triangle (EDT) from the 01/04/22 peak now has diverging trendlines. The daily SPX chart courtesy of Trading View illustrates the recent action. Could an Expanding – EDT be forming –Continue reading ” Diverging Trendlines”
Trendline Break Through
Today 03/17/22 the S&P 500 (SPX) continued to move above the trendline connecting the supposed wave “two” top – 02/09/22 with the supposed wave “four” top – 03/03/22 of a presumed Elliott wave Ending Diagonal Triangle from the all-time high on 01/04/22. The daily SPX chart courtesy of Trading View illustrates the declining trendlines. TheContinue reading ” Trendline Break Through”
Examination of US and German Stock Markets
After the 02/24/22 bottom US stocks appeared to be poised for a rapid move up, but after two days a trading range developed. Meanwhile, German stocks as measured by the DEU40 have continued to make new decline lows. Evidence from the DEU40 could be providing clues as to the near-term direction for the global stockContinue reading ” Examination of US and German Stock Markets”
Important US Stock Market Bottom Could be in Place – 02-24-22
The 02/24/22 dramatic reversal after a powerful decline may have created an important bottom for US stocks. The daily S&P 500 (SPX) chart courtesy of BigCharts.com illustrates several bullish signals. There were bullish divergences on the daily Slow Stochastic, RSI and MACD vs. the higher bottom made on 01/24/22. Slow Stochastic had a bullish linesContinue reading “Important US Stock Market Bottom Could be in Place – 02-24-22”
Bullish Crossover
Today 02/02/22 the S&P 500 (SPX) crossed above 4582.24, the bottom of the supposed Minute wave “i”. In a standard Elliott impulse wave the fourth wave can not cross into the territory of wave “one.” This crossover invalidates the standard impulse wave count and increases the chance of a new SPX all-time high. The dailyContinue reading “Bullish Crossover”
Bearish Internal Momentum
The 01/24/22 blog “Something Different is Happening” focused on what are sometimes referred to as external indicators such as price levels and moving averages, these are factors that are known to the vast majority of traders/investors. The 01/24/22 blog noted three bearish external events. The S&P 500 (SPX) went 4.7% below its 200 – dayContinue reading “Bearish Internal Momentum”
Four Dimension Trading 