The 06/12/24 blog “The Incredible Shrinking U.S. Stock Market” illustrated that the S&P 500 (SPX) could find resistance at the rising trendline connecting the peaks made on 07/27/23 and 03/28/24. Also noted “In the next few trading days this line is in the area of SPX 5,470 to 5,480”. It took the SPX more thanContinue reading “S&P 500 – Hits Long – Term Trendline – 06/18/24”
Category Archives: Price
The Case for a Rapid U.S. Stock Market Decline – 06/14/24.
The sharp Rusell 2000 (RUT) drop 06/12/24 to 06/14/24 could be the prelude to a larger decline. Volume Profile analysis supports this theory. The Volume Profile method places volume on a vertical axis matching volume with price levels. This helps to define support/resistance areas. The widest part of Volume Profile is called “Point of Control”Continue reading “The Case for a Rapid U.S. Stock Market Decline – 06/14/24.”
The Amazing Colossal Divergence!
The 06/13/24 blog “Quality Divergence” examined the short-term bearish divergence between the Dow Jones Industrial Average (DJI) and the Nasdaq Composite (IXIC). The 06/12/24 blog “The Incredible Shrinking U.S. Stock Market” illustrated the intermediate degree bearish divergence between the IXIC and Nasdaq new highs. Both of these important indicators are puny compared to the amazingContinue reading “The Amazing Colossal Divergence!”
The Incredible Shrinking U.S. Stock Market
On 06/12/24 the S&P 500 (SPX) and the Nasdaq Composite(IXIC) made new all-time highs. How can the U.S. stock market be shrinking? The answer is illustrated in the Nasdaq new highs chart courtesy of Barchart.com. The process of shrinking – 52 – week highs has been underway for several months. Note that at each lowerContinue reading “The Incredible Shrinking U.S. Stock Market”
Long – Term S&P 500 – Fibonacci Price and Time Relationships -06/07/24
The 05/16/24 blog “Updated S&P 500 – Elliott Wave Count – 05/16/24” illustrated that the S&P 500 (SPX) could be forming an Elliott wave – Expanding Flat correction from the January 2022 peak. This is still the most likely wave count; however, the peak of the presumed Primary wave [B] has exceeded its main targetContinue reading “Long – Term S&P 500 – Fibonacci Price and Time Relationships -06/07/24”
Into the Lunar Time Zone – 06/06/24
The S&P 500 (SPX) made a new all-time high on the date of a New Moon. An important turn could come soon. The prior blog “There’s a New Moon Rising” noted that sometimes markets could turn on a New/Full Moon plus or minus two trading days. The daily SPX chart courtesy of BigCharts.com illustrates bearishContinue reading “Into the Lunar Time Zone – 06/06/24”
Gold Nearing Important Support – 05/31/24.
A break below Golds closest support could trigger a 10% decline. Point & Figure (PF) charts are very good at discovering potential support and resistance areas. The daily PF- Gold Continuous Contract ($GOLD) chart courtesy of StockCharts.com illustrates its action. Point & Figure charts consist of columns of X’s and O’s that represent filtered priceContinue reading “Gold Nearing Important Support – 05/31/24.”
Nvidia Major Top Could be in Place – 05/30/24.
On 05/30/24 Nvidia Corporation (NVDA) high was 1,158.19. Major Fibonacci resistance illustrated in the 05/25/24 blog “Nvidia Nears Major Fibonacci Resistance at 1,157.00” was 1157.70. Today’s high was almost a bullseye hit. The daily NVDA chart courtesy of Trading View updates its action. NVDA then declined from 1,158.19 and closed below its 05/29/24 session low.Continue reading “Nvidia Major Top Could be in Place – 05/30/24.”
All Eyes on Nvidia!
The daily Nvidia Corporation (NVDA) chart updates its action. On 05/28/24 NVDA made a new all-time high at 1,149.39 very close to major Fibonacci resistance at 1,157.70. It is also close to a rising trendline connecting the peaks made in October 2018 and November 2021. Please see the 05/25/24 blog “Nvidia Nears Major Resistance atContinue reading “All Eyes on Nvidia!”
Major Bearish Signal for U.S. Stocks – 05/22/24.
Today, 05/22/24 the Nasdaq Composite (IXIC) made a new all-time high unaccompanied by the other two main U.S. stock indices. This combined with the S&P 500 (SPX) inability to break above major Fibonacci resistance, could signal a bear move lasting into at least early 2025. When one of the main U.S. stock indices; Dow JonesContinue reading “Major Bearish Signal for U.S. Stocks – 05/22/24.”
Four Dimension Trading 