S&P 500  Decline is Losing Momentum

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”

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”

  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”

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”