The Nasdaq 100 (NDX) is at a crossroads. The action on 08/01/24 could determine the near – term course for U.S . stocks. The daily NDX chart courtesy of Trading View shows the first alternate Elliott wave count. The NDX from its 07/10/24 all-time high has a very clear Elliott wave count. The general formContinue reading “Nasdaq 100 – Elliott Wave Count – 07/31/24”
Category Archives: Price
Nasdaq 100 – the New Downside Leader
Throughout the 2024 U.S. stock rally the Nasdaq Composite and its sub index Nasdaq 100 (NDX) were the upside leaders. Since their respective all-time highs things have been different. The performance of the three main U.S. stock indices and NDX from their all-time highs to their recent decline bottoms are as follows. Dow Jones IndustrialContinue reading “Nasdaq 100 – the New Downside Leader”
Long-Term S&P 500 – Momentum – 07/25/24
Signals from weekly momentum indicators imply more downside action for the S&P 500 (SPX). The weekly SPX chart courtesy of Trading View shows the long – term action. Weekly Stochastic has a bearish line cross and the lower line has entered the neutral zone. RSI has moved below its moving average line and has alsoContinue reading “Long-Term S&P 500 – Momentum – 07/25/24”
Comparisons of the S&P 500 in 2018 and 2024
In early 2018 the S&P 500 (SPX) had a blow off top. Mid-2024 could be a repeat of that spectacular peak. The daily SPX chart courtesy of Trading View shows what happened from late 2017 to early 2018. In the final 37 – trading days of the bull run – late 2017 to early 2018Continue reading “Comparisons of the S&P 500 in 2018 and 2024”
Bargain Hunting
In the early 1960’s the late great market analyst Richard Russell wrote about a phenomenon that occurs near the end of stock bull markets. The phenomenon is an upward surge of small cap stocks. As a stock bull market develops many stocks are in extended rallies, making it difficult to find new stocks to buy. Continue reading “Bargain Hunting”
In the Zone and Overbought
The 07/08/24 blog “Major S&P 500 – Fibonacci Resistance” noted long – term resistance at 5,615.63. On 07/11/24 the S&P 500 (SPX) high was 5,642.45 within leeway of the bullseye target. The weekly SPX chart courtesy of Trading View illustrates the long-term action. The bullseye target of 5,615.63 was calculated by taking a Fibonacci .382Continue reading ” In the Zone and Overbought”
Ninja Trader Interview
Ninja Trader where I get my Futures quotes has livestream programing throughout the trading day. The programs are about trading and the markets. One of the programs have recently had contests. In April and May they had held – guessing the close of the S&P 500 E- Mini two days before the actual closes. TheContinue reading “Ninja Trader Interview”
Gold – Point & Figure Analysis – 06/28/24
The 06/02/24 blog “Gold Nearing Important Support – 05/31/24” used Point & Figure analysis to determine important support was made at the 05/03/24 bottom. Subsequently a secondary support area was made, the key date is 06/07/24. A break below the 06/07/24 bottom could herald the coming of a bigger break at the 05/03/24 bottom. TheContinue reading “Gold – Point & Figure Analysis – 06/28/24”
Long – Term Analysis of Asian Stock Markets
Four Asian stock markets reveal interesting long-term patterns. The weekly Vietnan Stock Index (VN30) courtesy of Trading View shows its action since 2021. The VN30 – November 2021 to November 2022 decline formed an extended Elliott wave Impulse pattern, which implies the first phase of a larger developing bear market. Note that the subsequent bullContinue reading “Long – Term Analysis of Asian Stock Markets”
Nvidia and the Strawberry Moon
On 06/20/24 both Nvidia Corporation (NVDA) and the Nasdaq Composite had Key Reversal days. A key reversal does not occur very often but is very reliable when it does. After an up-trend: The Open must be above yesterday’s Close, The day must make a new High, and The Close must be below yesterday’s Low. TheContinue reading ” Nvidia and the Strawberry Moon”
Four Dimension Trading 