The S&P 500 (SPX) turn on 09/06/22 appears to be the beginning of at least a multi- week rally. Daily momentum indicators provide guidance to determine the first upside target. The daily chart courtesy of Trading View illustrates three external momentum indicators. The daily Stochastic has a bullish lines crossover and has yet to reachContinue reading “S&P 500 – First Upside Target”
Category Archives: Momentum
Rally and Retracement
The prior blog “Day of Decision – 09/02/22” noted that the US monthly payroll report release on 09/02/22 could decide the near-term direction for US stocks. The reaction to the payroll report was bullish and the S&P 500 (SPX) climbed 1.3% above the 09/01/22 closing level. Then one – hour after the SPX 09/02/22Continue reading “Rally and Retracement”
Day of Decision – 09/02/22
The 08/29/22 blog “Dramatic Decline – Part – Two” noted the next most likely support level for the S&P 500 (SPX) was at the Fibonacci .618 retracement of the 06/17/22 to 08/16/22 rally. On 09/01/22 the SPX low was just above the .618 retracement level. The one – hour SPX chart courtesy of Trading ViewContinue reading “Day of Decision – 09/02/22“
Dramatic Decline – 08/26/22
The S&P 500 (SPX) early in the 08/26/22 session made a marginal new high for the rally that began on 08/24/22. Triggered by comments from FOMC chairman Powell – US stocks then fell sharply. The start of major bear wave down? Indicators and Fibonacci retracement levels reveal some fascinating clues. The daily SPX chart courtesyContinue reading “Dramatic Decline – 08/26/22“
Rising From a Value Area – 08/25/22
The previous blog “Declining into a Value Area – 08/22/22 presented evidence that US stocks could be finding support on either 08/22/22 or 08/23/22. A bottom was made on 08/24/22 just slightly below the area illustrated on the SP – E-Mini continuous chart. There’s a good chance that a multi-day rally may have commenced. TheContinue reading “Rising From a Value Area – 08/25/22“
Declining into a Value Area – 8/22/22
On 08/22/22 US stocks had a sharp and deep decline, the low of the day was just above a Volume Profile – value area. Its possible the decline ended on 08/22/22 or could end on 08/23/22. The Volume Profile method illustrates volume on a vertical axis that shows where the heaviest volume was related toContinue reading “Declining into a Value Area – 8/22/22“
The Danger Zone
The 08/11/22 blog “Entering the Danger Zone” illustrated a price and time area where/when a significant S&P 500 (SPX) peak could occur. This could be a danger zone for stock bulls. The time zone is from 08/17/22 to 09/01/22. The price range from SPX 4235 to 4320. On 08/16/22 one day before the time zoneContinue reading “The Danger Zone”
Stocks Nearing an Important Top? – 08/12/22
Stocks in the second half of August can sometimes form important tops. Two prominent examples are the peaks US stocks made in August 1929 and August 1987. The subsequent declines were rapid and deep. Evidence is mounting that an important stock market top could be forming in August 2022. The weekly S&P 500 (SPX) chartContinue reading “Stocks Nearing an Important Top? – 08/12/22“
Entering the Danger Zone
Today 08/11/22 the S&P 500 (SPX) entered what I call “The Danger Zone” this is a price and time area where the SPX could make a significant top. An examination of SPX, monthly, weekly and daily momentum indicators illustrate clues that a top could be forming. The monthly SPX chart courtesy of Trading Views showsContinue reading “Entering the Danger Zone“
Possible Short-Term Top – 08/03/22
Today 08/03/22 the S&P 500 (SPX) had a high of 4167.66 just below a double top made on 06/02/22 and 06/06/22. The hourly SPX chart courtesy of Trading View illustrates the action. Both the hourly RSI and MACD have bearish divergences. Its possible a short-term top could be in place at the 08/03/22 high ofContinue reading “Possible Short-Term Top – 08/03/22”
