Daily momentum for the S&P 500 (SPX) implies more downside action. The daily SPX chart courtesy of Trading View updates the action. Daily Stochastic had a bearish lines cross three – trading days ago and the lines are in the upper part of the neutral zone. Today 09/07/23 RSI crossed below its moving average line.Continue reading “S&P 500 Continues to Decline – 09/07/23”
Category Archives: Price
Bitcoin and Nasdaq Relationship – 08/18/23
The Nasdaq Composite (IXIC) and Bitcoin in U.S. dollars (BTCUSD) tend to trend together. Since late 2021 BTCUSD has been the weaker of the two and could be giving a preview of near -term IXIC action. The weekly BTCUSD and IXIC chart courtesy of Trading View shows their relationship since November 2021. BTCUSD made itsContinue reading “Bitcoin and Nasdaq Relationship – 08/18/23”
S&P 500 First Wave Down Nearing Completion – 08/18/23
The 08/16/23 blog “S&P 500 – Downside Targets – 08/16/23” noted. “A Fibonacci .236 retrace of October 2022 to July rally is near SPX 4,350. The SPX closed 08/16/23 at 4,404 and could reach 4,350 on 08/17/23.” On the S&P 500 (SPX) 08/18/23 open it reached 4,350 and quickly bottomed out at 4,335. Could thisContinue reading “S&P 500 First Wave Down Nearing Completion – 08/18/23”
S&P 500 – Downside Targets – 08/16/23
Today 8/16/23 the S&P 500 (SPX) made a new decline low. Fibonacci analysis provides clues to potential short-term support levels. The 08/15/23 blog illustrated that the SPX was in a declining wedge. The 2- hour SPX chart courtesy of Trading View shows what happened to the wedge. The wedge is gone, and the SPX isContinue reading “S&P 500 – Downside Targets – 08/16/23”
U.S. Stock Market Decline Continues
Today the S&P 500 (SPX) made a new post 07/27/23 decline low and invalidated the presumed Expanding Flat pattern illustrated in the 08/12/23 blog. The 2 – hour SPX chart courtesy of Trading view illustrates the action. The choppy decline from the 08/04/23 peak opens the possibility for several Elliott wave counts. The so farContinue reading “U.S. Stock Market Decline Continues”
S&P 500 Breaks Another Support Level
Growing evidence indicates U.S stocks could be in a multi-week decline. The S&P 500 (SPX) 30 – minute chart courtesy of Trading View illustrates the short-term view. Early in the 08/04/23 SPX session stocks rallied on bullish economic news. In a bullish trend the rally would likely continue until the end of the session orContinue reading ” S&P 500 Breaks Another Support Level”
Rising Long-Term Interest Rates – Part Two
The 07/27/23 blog “Rising Long-Term Interest Rates – 07/27/23” illustrated a bullish Elliott wave count forecasting a move in U.S 30-year Treasury yields (TYX) above the October 2022 peak. Point & Figure chart analysis identifies potential resistance points on the upside path. Markets are battlefields between bullish and bearish forces. Point & Figure charts provideContinue reading “Rising Long-Term Interest Rates – Part Two”
Tesla Inc. Massive Momentum Divergences
Tesla Inc. (TSLA) could be in the beginning of deep and sharp decline. Prior to TSLA’s all-time high in November 2021 it was a leading stock in the bull market that began in March 2020. More recently since early 2023 TSLA has resumed its market leadership role. If TSLA begins a large decline there’s aContinue reading “Tesla Inc. Massive Momentum Divergences”
Mind Blowing Fibonacci Relationships
This websites prior blog noted that statistically 07/03/23 could be a bullish day, and because of the shortened trading day any new rally high could be marginal. Today 07/03/23 all three of the main U.S. stock indices closed the day up. None of the indices made a new post October 2022 rally high – theContinue reading “Mind Blowing Fibonacci Relationships”
Crude Oil Update – 06/28/23
In early April and early June, Saudi Arabia announced Crude Oil production cuts. In both instances price rallies were brief. From the perspective of supply and demand, if supply is reduced price should rise – unless there’s a decrease in demand. The inability of Crude Oil to have a sustained rally implies global economic weaknessContinue reading “Crude Oil Update – 06/28/23”
Four Dimension Trading 