Very Important Support Broken!

Since the bull market began on 03/23/20 every S&P 500 (SPX)   a multi-day correction bottom has held. The simple definition of a bull market is a series of higher highs and higher lows.  Today 09/20/21 that has changed  – the SPX has broken below the last multi-day correction bottom made on 08/19/21. The daily SPXContinue reading “Very Important Support Broken!”

  Important S&P 500 Support

There’s a double bottom in the S&P 500 (SPX) 4470.00 area.  This corresponds with daily volume profile support on the S&P 500 – December 2021 E- Mini futures contract. The 15- minute SPX chart courtesy of Trading View illustrates the support zone. If the SPX breaks below 4468.99 there’s no significant chart support until theContinue reading ”  Important S&P 500 Support”

Fibonacci Price Extensions

During the last six years there have been two Fibonacci price extensions that have precisely forecasted important S&P 500 (SPX) tops.  Perhaps a third Fibonacci price extension could soon forecast another SPX peak. The weekly SPX chart courtesy of Trading View illustrates the 2015 top. A  1.618 Fibonacci extension of the SPX 2007 to 2009Continue reading “Fibonacci Price Extensions”

Time is the Most Important Factor

Yesterday 08/25/21 was the thirty – fourth anniversary of the US stock market top that preceded the 1987 global stock market crash.  On 08/25/21 both the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs. Today 08/26/21 the IXIC made a marginal new all-time high unconfirmed by the SPX and Dow Jones IndustrialContinue reading “Time is the Most Important Factor”

US Stocks at Maximum Resistance?

On 08/20/21 the  US stock market as measured by September  S&P 500 E-Mini Futures contract (ESU2021) may have reached a maximum resistance area. If so, an important secondary top could be in place. A  key aspect of the ”Market Profile” method is discovery of support/resistance zones. This can be achieved by examining either price orContinue reading “US Stocks at Maximum Resistance?”

Examination of the August 2015 – Mini Crash

During the last few months, the US stock market has had a deterioration of internal momentum.   Something similar happened in 2015, except then the US main stock indices went sideways forming a double top.   The daily S&P 500 (SPX)  chart courtesy of Trading View illustrates the action from 2014 to 2016. The SPX madeContinue reading “Examination of the August 2015 – Mini Crash”

Examination of August Stock Market Tops

The broad bearish  seasonal pattern for US stocks runs from late April until October. Sometimes if a top is not made in the April to May zone, a peak could be made in August. Two classic examples of September to October bear moves occurred in 1987 and 2000. These price smashing bear markets could revealContinue reading “Examination of August Stock Market Tops”

S&P 500 – Support and Resistance – August 17, 2021

On 08/16/21 the S&P 500 (SPX)  peaked at 4480.26 which was almost a bullseye hit of the Fibonacci resistance target illustrated in the 07/27/21 blog “Market Nexus  Points”. The weekly SPX chart courtesy of Trading View updates the chart illustrated in that blog. Logarithmic scale is usually the best method to measure Fibonacci points afterContinue reading “S&P 500 – Support and Resistance – August 17, 2021”

Market Nexus Points – Part Three

The 07/27/21 blogs, “Market Nexus Points” and “Market Nexus Points – Part Two” examined S&P 500 (SPX)  nexus points using logarithmic scale.  This blog examines a potential nexus point using  arithmetic scale. R.N Elliott stated that when using trend lines to aid in the discovery of wave patterns, its possible to use both logarithmic andContinue reading “Market Nexus Points – Part Three”

Market Nexus Points – Part Two

Robert Prechter’s book “Beautiful Pictures” illustrated Fibonacci time/price relationships within the Dow Jones Industrial Average bull move from July 1932 to January 2000. Prechter also examined Fibonacci time/price  relationships from 1974 to 2000 that tied in with targets derived from the larger price structure.    The previous blog “Market Nexus Points” illustrated Fibonacci time/price relationshipsContinue reading “Market Nexus Points – Part Two”