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”
Category Archives: Momentum
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”
Apple Inc. – Clear Elliott Wave Pattern
Sometimes individual stocks can have amazingly clear and accurate Elliott wave patterns. The recent action of Apple Inc. (AAPL) could be very helpful in timing the broader U.S. stock market. The two – hour APPL chart courtesy of Trading View illustrates its Elliott wave pattern since 07/19/23. From 07/19/23 to 08/18/23 APPL formed a clearContinue reading “Apple Inc. – Clear Elliott Wave Pattern”
Bearish Stock Reversal – 08/24/23
Today 8/24/23 the S&P 500 (SPX) opened the session with a gap up. The opening move invalidated the Elliott wave count illustrated in this websites prior blog. It appeared this open could be the beginning of a day long bull run. What happened was a dramatic bearish reversal. The SPX declined into the close ofContinue reading “Bearish Stock Reversal – 08/24/23”
S&P 500 First Wave Down Nearing Completion – 08/18/23
The 08/16/23 blog “S&P 500 – Downside Targets – 08/16/23” noted. “A Fibonacci .236 retrace of October 2022 to July rally is near SPX 4,350. The SPX closed 08/16/23 at 4,404 and could reach 4,350 on 08/17/23.” On the S&P 500 (SPX) 08/18/23 open it reached 4,350 and quickly bottomed out at 4,335. Could thisContinue reading “S&P 500 First Wave Down Nearing Completion – 08/18/23”
Philippines and Vietnam Stock Markets Update – 08/17/23
The 07/15/23 blog “Philippine Stock Exchange an Elliott Wave Tutorial” illustrated that the Philippine Stock Exchange (PSEI) could be rising in an Elliott wave – Double Zigzag pattern. The daily PSEI chart courtesy of Trading View updates the action. About 85 to 90% of the time the second Zigzag of a Double Zigzag pattern willContinue reading “Philippines and Vietnam Stock Markets Update – 08/17/23”
