U.S. stocks could be forming a major top. Today 01/24/24 the S&P 500 (SPX) made a new all -time high at 4,903.68, only a few points above major Fibonacci resistance. The 11/10/21 blog “Possible S&P 500 Topping Zone” illustrated long-term Fibonacci price calculations projecting major SPX resistance at 4,889.71. The charts from this blog wereContinue reading “S&P 500 – Reaches Major Fibonacci Resistance – 01/24/24.”
Category Archives: Price
S&P 500 – Short – Term Downside Target – 01/17/24
The 01/14//24 blog “S&P 500 – Short-Term Elliott Wave Count – 01/12/24” illustrated that an Elliott Wave – Expanding Flat correction was probably developing and noted. “There’s a good chance the third wave – Minor wave “C” began at the SPX high on 01/12/24”. The S&P 500 (SPX) high on 01/12/24 has held, increasing theContinue reading “S&P 500 – Short – Term Downside Target – 01/17/24”
Bitcoin Drops Fast From Important Resistance
On 01/11/24 – Bitcoin in U.S. dollars (BTCUSD) reached important Fibonacci resistance and then rapidly declined. Several factors indicate this could just be the start of at least a multi-month bear phase. The weekly BTCUSD chart courtesy of Trading View illustrates the big picture. The BTCUSD all-time high was in November 2021 it then fellContinue reading “Bitcoin Drops Fast From Important Resistance”
U.S. Treasury Yield and S&P 500 – Relationship
For several months there’s been an inverse relationship between U.S. 30- year Treasury yields (TYX) and the S&P 500 (SPX). The relationship is in effect as of early 2024. Most in the investment community are probably focused on the FOMC interest rate decisions in regard to the direction of U.S. stocks. In 2024 it couldContinue reading “U.S. Treasury Yield and S&P 500 – Relationship”
First Support for the S&P 500
“Volume Profile” and Fibonacci retracements estimates the first S&P 500 (SPX) support zone. “Volume Profile” analysis has volume on a vertical scale and matches the volume with price action. The largest volume cluster is called “Point of Control” (POC) which could be support/resistance for price. The daily SPX chart courtesy of Trading View illustrates theContinue reading “First Support for the S&P 500”
Amazing Fibonacci Calculations – December 2023
Momentum and Fibonacci evidence indicates U.S stocks may have made at least an intermediate top. After the 12/20/23 micro crash in U.S. stocks it appeared that an intermediate peak could be in place. Incredibly all three of the main U.S. stock indices continued to rally and moved above their respective pre micro crash highs. TheContinue reading “Amazing Fibonacci Calculations – December 2023”
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”
Four Dimension Trading 