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”
Category Archives: Price
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”
S&P 500 – Hits Long – Term Trendline – 06/18/24
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”
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!”
Four Dimension Trading 