Category Archives: Price

Potential S&P 500 Bottom – Early May 2024

Fibonacci price and time calculations indicate the S&P 500 (SPX) could make an important bottom in the first week of May 2024. The first daily SPX chart courtesy of Trading View illustrates the Fibonacci price calculations. The primary Fibonacci coordinate is a .50 retracement of the October 2022 to March 2024 bull market.  The exactContinue reading “Potential S&P 500 Bottom – Early May 2024”

Nasdaq Adds Fuel to the Bearish Fire

From  October 2022 to  March 2024  the Nasdaq Composite (IXIC) lead the way, gaining 31% vs   S&P 500 (SPX) up 28% and  Dow Jones Industrial Average (DJI) up 22%.   On 04/19/24  IXIC declined 2.05% vs. SPX down .88%.  The DJI was up .56.   The IXIC dramatic drop on 04/19/24 implies more downside action for U.S.Continue reading “Nasdaq Adds Fuel to the Bearish Fire”

S&P 500 and Russell 2000 – Important Support Zones

The Volume Profile method identifies potential support for the S&P 500 and the Russell 2000. Volume profile places volume on a vertical axis and identifies support/resistances areas. The wideset volume cluster is called Point of Control (POC)  which represents the strongest potential support/resistance.   Price is drawn to or is repelled by POC. The first dailyContinue reading “S&P 500 and Russell 2000 – Important Support Zones”

Nasdaq Composite Bearish Breakthrough

The 04/15/24 Nasdaq Composite (IXIC) break below two important support levels opens the door for a move down to the January 2024 bottom. This sites 04/13/24 blog illustrated that the IXIC may have completed a bullish Horizontal Triangle and the IXIC could make a new all-time high.  The IXIC gapped up on the 04/15/24 openContinue reading “Nasdaq Composite Bearish Breakthrough”

Russell 2000 – Leading the Way Down

The Russell 2000 (RUT) small cap stock index has declined 5.5%  since its 03/28/24 peak. From its 03/21/24 top  the Dow Jones Industrial Average has fallen close to 4%. The Nasdaq Composite from 03/21/24 to 04/10/24 is down 2.3%. The S&P 500 from its 03/28/24 top has declined 2.4%. The daily RUT chart courtesy ofContinue reading “Russell 2000 – Leading the Way Down”

  Short-Term S&P 500 – Downside Projection

Intraday S&P 500 (SPX) Elliott wave  patterns and Fibonacci analysis imply more downside action. The 5 – minute SPX chart courtesy of Trading View illustrates what’s happened since its all-time high. The decline from the SPX 03/28/24 peak appears to be a series of “one’s” and “two’s”.   In down trending markets this is one ofContinue reading ”  Short-Term S&P 500 – Downside Projection”

Quarter Turn – Stock Market Turn

The start of the 2024 second quarter has seen declines in the U.S. and other national stock markets.  The 03/24/24 blog “Major Fibonacci Time Cycles” illustrated an S&P 500 (SPX)   turn in  March 2024 using Fibonacci sequence numbers.   The SPX all-time high came on 03/28/24.  If the March 2024 SPX high holds it could beContinue reading “Quarter Turn – Stock Market Turn”

Two Characteristics of a High Probability Winning Trade

One market currently has two factors that strongly imply at least a one-month bull run.  That market is Soybeans.  Most of the information about the current Soybean bullish set up comes from a recent interview with the legendary trader, author, and market analyst Larry Williams. The weekly continuous Soybean chart courtesy of Barchart.com illustrates theContinue reading “Two Characteristics of a High Probability Winning Trade”

S&P 500 Reaches Resistance Zone- 03/21/24

The post U.S. – FOMC rally has brought the S&P 500 (SPX) to a potentially very important resistance zone. The daily SPX chart courtesy of BigCharts.com shows the big picture. Today the SPX came close to hitting the rising trendline connecting the peaks of Minor waves “1” and “3” of the rally from the 10/27/23Continue reading “S&P 500 Reaches Resistance Zone- 03/21/24”