Category Archives: Momentum

Today 04/05/21 the S&P 500 (SPX) reached an 86.3% gain from its 03/23/20 bottom. This move in a little more than one year is mind boggling and rare. Momentum and sentiment bearish divergences abound which have been documented in recent posts.  The daily SPX chart courtesy of Trading View illustrates daily RSI and MACD bearishContinue reading “Buying Panic?”

Toady 3/30/21 the S&P 500 (SPX) had a shallow decline. More importantly, the Russell 2000 (RUT) was up for most of the day.  Recently RUT has been lagging the SPX. The daily RUT and SPX chart courtesy of Trading View illustrates the recent action between the two indices. RUT’s most recent correction was down aboutContinue reading “Weak Stock Market Decline”

Toady 03/09/21 the Dow Jones Industrial Average (DJI) made a new all-time high unconfirmed by the other two main US stock indices S&P – 500 (SPX) and Nasdaq Composite (IXIC). This is what I call a “Rule of the majority” signal and is an indication of weaking upside momentum, a healthy rally would have allContinue reading “Dow Jones Industrial Average and Nasdaq – 100”

Of the three main US stock indices, S&P 500 (SPX) , Nasdaq Composite (IXIC), and  Dow Jones Industrial Average (DJI) – the Nasdaq Composite  has the deepest decline from its all – time high. These are the comparative drops for each index :    DJI -4.5%                                                                                       SPX -5.75%                                                                                       IXIC – 12.5% My 02/25/21 blogContinue reading “Nasdaq – 100 and S&P – 500 Comparison”

When a market or stock starts behaving differently than its norm this cam frequent be a sign of a trend change.  Since 10/30/20 bottom, the Nasdaq Composite has outperformed the other two main US stock indices: the S&P 500 (SPX) and the Dow Jones  Industrial Average (DJI). The IXIC  gained 30% from 10/30/20 to itsContinue reading “Something Different is Happening”

Bitcoin in US dollars (BTCUSD) has been trading since June 2017 and  has shown that it can be a leading indicator at significant tops and bottoms for the US stock market. The daily BTCUSD and S&P 500 (SPX)  chart courtesy of Trading View illustrates their relationship. In December 2017 BTCUSD reached its bull market highContinue reading “Using Bitcoin as an Indicator for the US Stock Market”

The NYSE New 52 – Week Highs ($NYHGH) chart courtesy of StockCharts.com shows the internal momentum of  the NYSE since the start of the secular bull market in March 2009. The five phases roughly correspond to the five peaks within an extended  nine – wave Elliott impulse wave. Phase 1 covers what I’ve labeled asContinue reading “NYSE New 52 – Week Highs – Update February 2021”

After the S&P 500 (SPX) 01/26/21 all-time high it appeared a decline lasting at least two weeks with a minimum retracement to SPX 3660 could be underway.  Both targets failed to be reached as ravenous bulls viewed the paltry drop a buying opportunity. The daily SPX chart courtesy of Trading View illustrates RSI Bearish divergences.Continue reading “US Stocks Push Relentlessly Higher”

Several posts on this site have focused on Zoom Video Communications Inc. (ZM) as a possible guide to timing the broader stock market.  The first post about ZM on 10/15/20 “Additional Elliott Wave Confirmation” noted its clear Elliott wave pattern.  Additionally, ZM because of its spectacular growth prior to its all-time high made it aContinue reading “Could Tesla be the Ultimate Mania Stock?”

On 01/22/21 the Nasdaq Composite (IXIC) made a new all-time high which was not confirmed by the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI), a bearish divergence.  I call this a “Rule of the majority” signal, meaning the true trend is with the two non-confirming indices. This signal can occur at minor,Continue reading “Nasdaq New High Non-Confirmation”