On 02/24/23 the S&P 500 (SPX) bounced off of important support, however the balance of momentum indicators imply more downside action. The daily SPX chart courtesy of BigCharts.com illustrates what’s happened. Shortly after the SPX opening on 02/24/23 it reached the 200 – day moving average (MA) triggering a rally that continued throughout the session. Continue reading “Mixed Signals for U.S Stocks”
Category Archives: Momentum
Long-Term Elliott Wave Count for Gold
The action of Gold in the last several months suggests it could be basing for a large bull market that could extend far beyond 2023. The long -term view of Gold gives us a starting point of what could develop in the coming months and years. The monthly Gold chart courtesy of Trading View showsContinue reading “Long-Term Elliott Wave Count for Gold”
Natural Gas May Have Bottomed on – 02/17/23
The 02/12/23 blog “Natural Gas Bottoming Signals” illustrated evidence from all four market dimensions that Natural Gas could be forming a major bottom. Elliott wave analysis now indicates a major bottom may have been made on 02/17/23. Natural Gas (NG1!) weekly continuous futures chart courtesy of Trading View illustrates the long- term Elliott wave count.Continue reading “Natural Gas May Have Bottomed on – 02/17/23”
Watch the Channel Lines – Part – Two
The 02/14/23 blog noted that if the Dow Jones Industrial Average (DJI) broke below channel line support at 33,581.42 it could open the door for a move down to at least 33,000. Early in the DJI 02/17/23 session there was a break below channel line support. The bears had almost an entire session to smashContinue reading “Watch the Channel Lines – Part – Two”
Natural Gas Bottoming Signals
An enormous amount of evidence indicates the Natural Gas bear market since August 2022 could be at or near completion. For six months Natural Gas has declined 75% wiping out more than a year of upside progress. Could there be more downside action? Perhaps, but an examination of evidence from all four market dimensions suggestContinue reading “Natural Gas Bottoming Signals”
Bulls Regain the Momentum
On 01/19/23 the Nasdaq Composite (IXIC) and Russell 2000 exhibited signs of relative bullish strength. More signals emerged on 01/20/23 that the uptrend in U.S stocks has probably resumed. The daily SPX chart courtesy of Trading View updates the action. Daily Stochastic has a bullish crossover and RSI has moved above its moving average line. Continue reading “Bulls Regain the Momentum”
Bearish Counterattack – Part – Two – 01/19/23
On 01/19/23 the S&P 500 (SPX) continued its post 01/17/23 decline with an additional bearish momentum signal implying further downside action. The daily SPX chart courtesy of Trading View updates three momentum indicators. The daily RSI has crossed below its moving average line. Daily Stochastic is far above the oversold zone. MACD has so farContinue reading “Bearish Counterattack – Part – Two – 01/19/23”
Bearish Counterattack – 01/18/23
Since 1/12/23 the bulls have been on the verge of breaking above important resistance near S&P 500 (SPX)– 4,000. Today 01/18/23 The bears held the line and counterattacked with strong selling throughout most of the session. The start of a multi- week bear phase? One indicator could soon give us the answer. The prior blogContinue reading “Bearish Counterattack – 01/18/23”
Short- Term Momentum Update – 01/13/23
When markets are in a steadily rising trend, bearish momentum divergences will emerge which could later be invalidated. This phenomenon is occurring with the S&P 500 (SPX). The 15 -minute SPX chart courtesy of Trading View illustrates its short-term trend. Recent blogs on this website have illustrated that both the SPX – 15 –Continue reading “Short- Term Momentum Update – 01/13/23”
Rare Bullish Momentum Signal
During the trading week ending 01/13/23 the NYSE – Advance/Decline line ($NYAD) had a bullish reading that’s only occurred four times in times the last fourteen – years. The implications of this signal could mean U.S stocks rally into March/April 2023. The weekly $NYAD chart courtesy of StockCharts.com illustrates the action since January 2007.Continue reading “Rare Bullish Momentum Signal”
Four Dimension Trading 