The S&P 500 (SPX) is close to the declining trendline from the January 2022 top and the 200 – day moving average (MA). A move above this important resistance could trigger massive, short covering and bring in new long side trader’s. The panic point is around SPX – 4,000. Daily momentum suggests a move aboveContinue reading “Nearing the Bear Panic Point”
Category Archives: Momentum
Big Move Up Not Down
Near the end of the 2022 trading year, it appeared the S&P 500 (SPX) was basing for a big move up that could begin on the first trading day of 2023. What happened was a continuation of the sideways move that developed into what looked like an Elliott wave – Horizontal Triangle. On 01/05/23 theContinue reading “Big Move Up Not Down”
Resistance Reached – 12/23/22
Markets are attracted to Fibonacci resistance/support areas. This websites 12/22/22 blog noted two S&P 500 (SPX) Fibonacci retracement points. At SPX 3,841.94 and 3,843.90, this resistance was reached on 12/23/22. The SPX – 15 – minute chart courtesy of Trading View shows what happened. Exact hits of Fibonacci coordinates are rare, therefore allow for leewayContinue reading ” Resistance Reached – 12/23/22″
Examination of U.S Interest Rates – 12/09/22
On 12/14/22The FOMC will decide about U.S short – term interest rates. Its expected they will raise rates only .50% as opposed to recent increases of .75%. Whatever the decision is, evidence suggest U.S interest rates could continue to rise for several years. The daily chart courtesy of Trading View shows the yield curveContinue reading “Examination of U.S Interest Rates – 12/09/22”
NYSE Composite – Update – 12/09/22
The previous blog noted that hourly momentum of the NYSE Composite (NYA) was bullish. However, on 12/09/22 the bears were able to overpower the bulls. The hourly chart courtesy of Trading View shows the turn of the tide. The 12/08/22 blog illustrated that NYA important resistance was at 15,452.76 on 12/09/22 the NYA failed toContinue reading ” NYSE Composite – Update – 12/09/22″
Bull Market Revival
On 12/07/22 it appeared that US stocks could continue to decline. Evidence on 12/08/22 from the price and momentum dimensions imply that the wounded bull market could be recovering. To discover the best Elliott wave count, examine several stock market indices, sector ETF’s and sometimes individual stocks. The prior blog noted that the S&P 500Continue reading “Bull Market Revival”
Wounded Bull Market
On 12/06/22 the S&P 500 (SPX) broke below important support made on 11/29/22, wiping out all of the gains made during the powerful 11/30/22 rally. Additionally, the decline from the 12/01/22 peak at 4,100 has the look of a developing Elliott – Impulse wave. If so, this could be the first wave down of aContinue reading ” Wounded Bull Market”
Follow the Leader
The Dow Jones Industrial Average (DJI) has retraced 50% of its 2022 bear move and is currently the most bullish of the three main US stock indices. The DJI action in the next few trading days could determine the direction of US stocks for the rest of 2022. No market indicator or system is effectiveContinue reading “Follow the Leader”
Intermediate Top For Interest Rates?
Several clues from interest rates and bonds imply a trend reversal may have begun. The 10/19/22 blog “US Interest Rates Could be Near a Top” noted that the monthly CBOE 30 – year Treasury Bond Yield (TYX) was nearing a resistance zone. The TYX price action on 10/21/22 was dramatic and the first hint ofContinue reading “Intermediate Top For Interest Rates?“
Stock Market Bulls Have Momentum – 10/21/22
The strong rally in US stocks on 10/21/22 added evidence that the bulls have momentum. However, an important resistance level needs to be exceeded for the uptrend to continue. The daily S&P 500 (SPX) chart courtesy of Trading View updates the action. Daily SPX – RSI has now crossed above the 50% level usually thisContinue reading ” Stock Market Bulls Have Momentum – 10/21/22″
Four Dimension Trading 