Category Archives: Momentum

Three Possible Paths for the S&P 500

On 06/02/22 the S&P 500 (SPX) bottomed early in the session then persistently rallied 2.5% closing the session slightly off the high of the day.  Typically, in a stock bull market   the next trading day would have at least marginal gains.  On 06/03/22 – SPX  opened the session down 1.1% and  trended down during  mostContinue reading “Three Possible Paths for the S&P 500”

S&P 500 Momentum Update 05/31/22

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  action of the RSI momentum indicator. The highest daily SPX closing level after the 05/20/22 bottom was made on 05/27/22 with an RSI reading of 53.72.  This  is  higher than the reading  made on 04/19/22 – the highest SPX closing level for the 04/18/22Continue reading “S&P 500 Momentum Update 05/31/22”

   Are Stock Bears Ready for a New Attack?

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  considerable bullish evidence. The SPX has broken above a declining daily trend line. Daily MACD – Histogram has crossed the zero line. MACD lines have a bullish crossover. Daily RSI and Stochastics  have bullish lines  crossovers after having bullish divergences. On the bearish sideContinue reading ”   Are Stock Bears Ready for a New Attack?”

Relentless Stock Market Decline

For several weeks US stocks have been in a relentless decline.  In  the next few weeks could there be more downside action, perhaps 10, 15, or 20% lower?  An examination of the Nasdaq Composite reveals  some amazing data. The  Nasdaq Composite  has dropped 31.9% from its all- time high.  The S&P 500 has  fallen  20.9%Continue reading “Relentless Stock Market Decline”

UKX 100 Index is the Upside Leader

The 05/15/22 blog “Bullish Stock Signals From Europe and Asia illustrated that the UKX 100 Index (UKX) was the strongest of four major national stock indices. Today 05/17/22 UKX , had two additional bullish signals. The daily UKX  chart courtesy of Trading  View illustrates the action. UKX broke above  Fibonacci .618 resistance of the 04/11/22Continue reading “UKX 100 Index is the Upside Leader”

Momentum and Sentiment Indicator Review – 05/13/22

The 05/12/22 blog “ Nasdaq is  Extremely Oversold”  illustrated the weekly Nasdaq Composite – Slow Stochastic. The weekly Nasdaq Composite chart (COMP) courtesy of BigCharts.com updates the action. Weekly Slow Stochastic now has a bullish lines crossover in the oversold zone.  Additionally, COMP went deeply below the lower Bollinger band and has  moved back aboveContinue reading “Momentum and Sentiment Indicator Review – 05/13/22”

Nasdaq is Extremely Oversold

The Nasdaq Composite has been the weakest of the main US stock indices,  on 05/12/22 it reached an extremely oversold condition. The Nasdaq weekly chart courtesy of BigCharts.com- symbol (COMP) illustrates the situation. Slow Stochastic is at the lowest level in five years. The Nasdaq hourly Point & Figure chart courtesy of Trading View –Continue reading “Nasdaq is Extremely Oversold”

Fibonacci Price and Time Connections – Part – Two

The 05/08/22 blog “Fibonacci Price and Time  Connections” noted  broad leeway for support on the S&P 500 (SPX) could be between 4035 and 3985.  Today 05/09/22 the SPX low was at  3975.48.  Leeway is  not an exact science.  The SPX 2010 decline was the source for projecting a possible 2022 support area.  In 2010 theContinue reading “Fibonacci Price and Time Connections – Part – Two”

Nasdaq Composite Momentum 05/06/22

The Nasdaq Composite (IXIC)  made its all-time high in November 2021 more than a  month before the other two main US stock indices, S&P 500 (SPX) and Dow Jones Industrial Average (DJI).  Since then, it has been the weakest index – down 26%  from its  November 2021 top. The 05/02/22 blog “US Stock Market  MomentumContinue reading “Nasdaq Composite Momentum 05/06/22”