Category Archives: Price

S&P 500 – Upside Target for 12/22/23 – Part Two

On 12/21/23 the S&P 500 (SPX) had retraced a Fibonacci .618 of the prior days micro crash.  Late trading day momentum signaled the SPX could continue to rally and possibly peak in the 4,758 to 4,762 area.   Also noted that if that resistance zone was broken, the SPX could rally to just below its 12/20/23Continue reading “S&P 500 – Upside Target for 12/22/23 – Part Two”

S&P 500 Upside Target for 12/22/23

Many times, after a market trend change there’s can be a deep retracement of the new trends first movement.  A simple reason why there could be  deep retracements – market participants believe the prior trend is still underway. The 15-minute S&P 500 (SPX) chart courtesy of Trading View shows what happened after the sharp andContinue reading “S&P 500 Upside Target for 12/22/23”

   VIX Makes a New Low – 12/08/23.

On 12/08/23 the S&P 500 (SPX) moved above it’s 12/01/23 high and the top made on 07/27/23.  Corresponding with the new SPX – 2023 high was a new low in the S&P 500 – Volatility Index (VIX).  The new VIX low  implies U.S. stocks could rally into early January 2024.      The daily SPX chartContinue reading ”   VIX Makes a New Low – 12/08/23.”

Echo From the Past

The Dow Jones Industrial Average could soon be repeating a pattern from the 1960’s. The action of the Dow Jones Industrial Average during the week of 11/27/23 to 12/01/23 was like the second stage of a rocket igniting. The daily Dow Jones Industrial Average chart  courtesy of  BigCharts.com (DJIA) shows what happened. After an alreadyContinue reading “Echo From the Past”

Crude Oil Update – 11/20/23

The Crude Oil rally that began on 11/16/23 continued today 11/20/23. The daily Crude Oil continuous contract chart (CL2!) courtesy of Trading View shows what happened.  In addition to bullish line crosses for RSI and Stochastic there was also a break above the declining trendline from 10/20/23. Traders  exited 50% of a half position ofContinue reading “Crude Oil Update – 11/20/23”

Technology Stock Blow Off Top?

Most of the gains in the main U.S. stock indices since the 10/27/23 bottom can be attributed to the Technology sector.  The manic move up in tech stocks could be the terminal phase of the bull market that began in October 2022. The daily chart for  SPDR Select Sector Fund – Technology (XLK) courtesy ofContinue reading “Technology Stock Blow Off Top?”

Crude Oil Update – 11/17/23

On 11/16/23 Crude Oil appears to have made an intermediate degree bottom. The daily Crude Oil futures continuous contract (CL2!) courtesy of Trading View shows the progress of its decline since 09/28/23. The decline counts as a five – wave Elliott Impulse pattern.  There’s a bullish MACD – Histogram divergence.   RSI has moved above itsContinue reading “Crude Oil Update – 11/17/23”

Marginal Death Cross and Rally

In March 2022 the Dow Jones Industrial Average (DJIA) had a “Death Cross” and in the same day made a secondary bottom.  On 11/13/23 the DJIA had a marginal “Death Cross” and made a minor bottom.  Today, 11/14/23 there was a massive rally. The daily DJIA chart courtesy of BigCharts.com illustrates the action. Todays giantContinue reading “Marginal Death Cross and Rally”

At the Intersection

On 11/09/23 the sharp plunge in U.S. stocks looked like the start of at least a multi-day decline.  Today 11/10/23 the bulls replied with a persistent rally throughout the trading session. The daily Dow Jones Industrial Average chart courtesy of BigCharts.com shows the position of its moving average lines. The 50 – day moving averageContinue reading “At the Intersection”