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”
Category Archives: Momentum
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”
Support Breaks Without Panic
The S&P 500 (SPX) broke below chart support at 4,216.45 and the SPX – 200 – day moving average (MA). So far no panic. If the decline continues it could be a steady drop until 11/01/23. The daily SPX chart courtesy of Trading View illustrates the action. The bearish factor on the chart is theContinue reading “Support Breaks Without Panic”
Clues From the Consumer Staples Stock Sector
The SPDR – Consumer Staples Select Sector fund (XLP) is usually one of the most bullish sectors in the U.S. stock market. During 2023 it’s performance relative to the general stock market has been bearish. XLP’s recent action indicates U.S. stocks could continue declining into early November 2023. The weekly XLP chart courtesy of BigCharts.comContinue reading “Clues From the Consumer Staples Stock Sector”
Crude Oil Update – 10/20/23
At the close of trading on 10/13/23 it appeared that Crude Oil (CL2!) had completed a post-crash bounce. During the week of 10/16/23 to 10/20/23 – CL2! – made additional upside progress. The move up from the 10/06/23 bottom still appears to be a bear market rally which could be complete. The daily CL2! –Continue reading “Crude Oil Update – 10/20/23”
Rising Interest Rates, Falling Stocks – Part Two
Today 10/19/23 the yields for 5, 10, and 30 – year U.S. government debt made new 2023 highs. Correspondingly U.S. stocks as represented by the S&P 500 (SPX) declined .85%. The daily SPX chart courtesy of BigCharts.com illustrates the action. At the SPX low on 10/19/23 it had retraced .699 of the rally from 10/03/23Continue reading “Rising Interest Rates, Falling Stocks – Part Two”
Rising Interest Rates, Falling Stocks
Today 10/18/23 the U.S. stock market represented by the S&P 500 (SPX) declined 1.34%. U.S. interest rates represented by the U.S. government 30 – year yields (TYX) climbed .95%. A continuation of this trend during the next two weeks could trigger a mini crash for U.S. stocks. The 10/15/23 blog “Catalyst for a Stock MarketContinue reading “Rising Interest Rates, Falling Stocks”
Crude Oil Shorting Opportunity – 10/13/23
The 09/17/23 blog “Crude Oil Elliott Wave Pattern – 09/15/23” noted a potential broad topping zone for Crude Oil between 91.50 to 94.80. The 09/27/23 blog “Crude Oil Topping Zone” noted Crude Oil could reach a rising trendline in the 92 area on 09/28/23 or 09/29/23. The 09/28/23 blog “Probable Crude Oil Top – 09/28/23”Continue reading “Crude Oil Shorting Opportunity – 10/13/23”
