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”
Category Archives: Price
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.”
S&P 500 – External Momentum – 05/17/24.
External momentum indicators are derived from price action, they measure the speed of a market and aid in determining overbought/oversold conditions. The daily S&P 500 (SPX) chart courtesy of Trading View shows what’s been happening in 2024. Daily Stochastic has reached the overbought zone and has flat lined. On a daily scale Stochastic could continueContinue reading “S&P 500 – External Momentum – 05/17/24.”
Short-Term Action of U.S. Stock Indices – 05/17/24.
The 30 – minute S&P 500 (SPX) chart courtesy of Trading View updates its Eliott wave count. There’s a good chance the SPX completed Minor wave “4” of the extended Impulse wave that began on 04/19/24. The bottom on 05/17/24 was very close to a .382 Fibonacci retracement of the presumed Minute wave “v” ofContinue reading “Short-Term Action of U.S. Stock Indices – 05/17/24.”
Continuing Relative Weakness of the Russell 2000
The 04/28/24 blog “Russell 2000 Relative Weakness to the S&P 500” illustrated the long- and short-term bearish divergence of the Russell 2000 (RUT) to the S&P 500 (SPX). As of 05/10/24 RUT continues to diverge from the SPX and could be a bear market omen. The daily SPX and RUT chart courtesy of Trading ViewContinue reading “Continuing Relative Weakness of the Russell 2000”
Four Dimension Trading 