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”
Category Archives: Price
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”
Apple Inc. Downside Rollover?
The most bearish of the “Magnificent Seven” stocks relative to the S&P 500 (SPX) is Tesla Inc. (TSLA). The next most bearish stock is Apple Inc (AAPL). The action of AAPL from its December 2023 top suggests it could be on the verge of a sharp decline. The weekly AAPL chart courtesy of Trading ViewContinue reading “Apple Inc. Downside Rollover?”
Potential S&P 500 Support levels
Assuming the S&P 500 (SPX) 02/12/24 top holds, there are two levels where short-term bottoms could occur. The daily SPX chart courtesy of Trading View illustrates Fibonacci retracement levels and Volume Profile.” Fibonacci ratios are typically areas where markets or stocks could retrace to on any time scale. In this case the largest SPX priceContinue reading “Potential S&P 500 Support levels”
Nearing an Important Anniversary Date
On February 9. 1966 the Dow Jones Industrial Average (DJI) reached 1,001.11, an all-time that terminated a 24 – year secular bull market that began in April 1942. Perhaps the S&P 500 (SPX) could end a 15 – year secular bull market near 5,000 close to or on February 9, 2024. The daily DJI chartContinue reading “Nearing an Important Anniversary Date”
Basing for the Final Rally?
The intraday actions of the three main U.S. stock indices appears they may be basing for another, perhaps final rally. The 15 – minute chart of the Dow Jones Industrial Average (DJI), S&P 500 (SPX), and Nasdaq Composite (IXIC) courtesy of Trading View illustrates what’s been happening. At the close of the 01/25/24 trading sessionContinue reading “Basing for the Final Rally?”
S&P 500 – Reaches Major Fibonacci Resistance – 01/24/24.
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.”
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”
Four Dimension Trading 