Category Archives: Price

Thrusting Towards Resistance

 In two or three trading days the S&P 500 (SPX) could  reach important resistance. This websites 03/18/24 blog noted. “It’s possible the presumed Horizontal Triangle could be complete at the 03/18/24 low.  More likely the SPX could trend down until sometime before the U.S. FOMC announcement due 2:00 PM – EDT on 03/20/24.” Also illustratedContinue reading “Thrusting Towards Resistance”

Short- Term S&P 500 – Elliott Wave Count – 03/15/24

The 03/13/24 blog “S&P 500 – Elliott Wave Pattern From October 2023”  illustrated that the S&P 500 (SPX) may have completed a Minor wave “4” decline on 03/11/24.   Subsequent action suggests Minor wave “4” could still be developing. The 30-minute SPX chart courtesy of Trading View illustrates the action since late 2023. Within five –Continue reading “Short- Term S&P 500 – Elliott Wave Count – 03/15/24”

Nvidia Corporation and S&P 500 Connection

Since late October 2023 both Nvidia Corporation (NVDA) and the S&P 500 (SPX) have traded closely together.  Their relationship could provide evidence for a major U.S. stock market top. The daily NVDA and SPX chart courtesy of Trading View illustrates their relationship. Since late October 2023 NVDA and SPX have made turns within about tradingContinue reading “Nvidia Corporation and S&P 500 Connection”

Stock Buying Mania Continues – 03/07/24.

Short-term bullish signals imply U.S. stocks could continue to rise. The daily S&P 500 (SPX) chart courtesy of BigCharts.com updates the action. Today  the SPX went above its 03/04/24 high.  This move changes the Elliott wave count showing five waves up from 0/27/23 to 03/04/24.   There are now several alternate wave counts, further price actionContinue reading “Stock Buying Mania Continues – 03/07/24.”

Apple Inc. Major Downside Break

On 03/01/24 Apple Inc. (AAPL) broke below important support and  could soon drop to its October 2023 bottom. The daily AAPL chart courtesy of Trading View shows what happened. The 02/15/24 blog “Apple Inc. Downside Rollover” noted AAPL had a double bottom with the key point at 179.25.  This level was pierced on 03/01/24 alongContinue reading “Apple Inc. Major Downside Break”

Alphabet Inc. Major Downside Break

Alphabet Inc. (GOOGL) has broken below trendline and chart support.  This downside move has bearish implications for the stock and perhaps the broader U.S. stock market. The 02/25/24 blog “Three Magnificent Stocks”   examined the technical situation for GOOGL and noted.  “A move below the lower rising trendline and first chart support at 139.49 could  openContinue reading “Alphabet Inc. Major Downside Break”

Three Magnificent Stocks to Watch

In the late stage of a stock bull market fewer and fewer stocks participate in the rally.  This phenomenon can be viewed in the “Magnificent Seven Stocks”.   Soon, if one or two of these seven stock breaks to the downside, it could trigger a significant decline in the broader U.S. stock market.  The Magnificent SevenContinue reading “Three Magnificent Stocks to Watch”

Bearish Message From Copper

Copper is an industrial metal, and its price action can be a broad gauge for the economy.  Copper tends to decline in periods of economic weakness, rising in economic recovery. The action of Copper vs. the S&P 500 (SPX) since early 2023 suggests that the U.S. economy and stock market could soon be declining. TheContinue reading “Bearish Message From Copper”

Intraday Examination of the S&P 500

On 02/13/24 the U.S. stock market had a large steep decline.   Subsequently the three main U.S. stock indices have rallied with the S&P 500 (SPX) being the strongest, on 02/16/24 it was only 9.69 points from its all-time high.  The SPX ended the session down, just above important intraday support. The 15 – minute SPXContinue reading “Intraday Examination of the S&P 500”