Category Archives: Momentum

Bearish Internal Momentum

The 01/24/22 blog “Something Different is  Happening” focused on what are sometimes referred to as external indicators such as price levels and moving averages, these are factors that are known to the vast majority of traders/investors. The 01/24/22 blog noted three bearish external events.  The S&P 500 (SPX) went 4.7% below its 200 – dayContinue reading “Bearish Internal Momentum”

Bullish Momentum Returns – 01-12-22

On 01/10/22 the S&P 500 (SPX) held above the rising daily trendline connecting  the 12/03/21 and 12/20/21 bottoms.  Today 01/12/22 the SPX pushed above the .618 Fibonacci resistance level of the 01/04/22 to 01/10/22 decline. The daily SPX chart courtesy of Trading View illustrates the recent action. Additionally, today the RSI + MA had aContinue reading “Bullish Momentum Returns – 01-12-22”

S&P 500 Could be Basing For a Year End Rally – Part Three

On 12/23/21 the S&P 500 (SPX) moved above the high made on 12/16/21, this invalidated the Elliott wave count illustrated in the 12/21/21 blog.  That wave count had the SPX 12/20/21 bottom as a supposed Minor wave “C” of a developing Elliott wave – Horizontal Triangle.  If the 12/20/21 bottom was wave “C” then theContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Three”

Slow Move Down – Fast Move Up

Common characteristics  of corrective patterns is choppiness and slowness. The recent S&P 500 (SPX) 11/22/21 to 12/03/21 decline  took approximately 58 – trading  hours. The move up from the 12/03/21 bottom has retraced  almost 80% of the  decline  in approximately  8 – hours.   The daily SPX chart courtesy of Trading View  illustrates  the  recentContinue reading “Slow Move Down – Fast Move Up”

 Choppy Stock  Decline

The 11/30/21 blog “Bearish November Omen” noted that the intraday decline of the S&P 500 (SPX) since the 11/22/21 top looked corrective.  Subsequently the SPX decline continued to look corrective.  The SPX  – 15- minute chart courtesy of BigCharts.com illustrates  the intraday action since the 11/22/21 all-time high. The easiest way to explain Elliott waveContinue reading ” Choppy Stock  Decline”

Bearish Rumbling Underneath the Stock Market Surface – 11-22-21

The 10/03/21 blog “Struggling  to Go Lower – Part Three” noted  the S&P 500 (SPX) on 10/01/21 went below the bottom made on 08/19/21. However, there were less NYSE – new 52 – week lows ($NYLOW) on 10/01/21 than on 08/19/21 – a  bullish signal.  The 10/03/21 blog also mention that while October was seasonallyContinue reading “Bearish Rumbling Underneath the Stock Market Surface – 11-22-21”

US Stocks Could be Blasting into a December 2021 Top

As the US stock market entered November 2021 it appeared due for a correction lasting  one to two weeks. What happen was a continuation of the manic rally that began  on 10/13/21. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the recent action. The best SPX – Elliott wave count since theContinue reading “US Stocks Could be Blasting into a December 2021 Top”

  Deteriorating Bullish Momentum

The 10/29/21 blog noted that the S&P 500 (SPX) reached short-term Fibonacci resistance, this blog focuses on the internal momentum of the US stock market. The NYSE – new – 52 – weeks highs chart ($MAHX) courtesy of Barcharts.com shows the action since May 2021. The SPX 09/02/21 all-time high had a significant bearish divergenceContinue reading ”  Deteriorating Bullish Momentum”

Hourly Bearish Divergences

Today 10/22/21 both the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) made new all-time highs breaking the “Rule of Majority” signal noted the  prior blog.  This is additional evidence that the intermediate path for US stocks is bullish.  Shorter term momentum evidence strongly suggests a correction of recent rally is imminent. TheContinue reading “Hourly Bearish Divergences”