Category Archives: Price

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”

Philippines Stock Exchange – Break Below Important Support

The Philippines Stock Exchange Index (PSEI) broke below a short-term rising trendline and the 05/26/23 bottom at 6,496.47.  This low is also close to a Fibonacci .618 retracement of the 03/16/23 to 05/08/23 rally.  The daily PSEI chart courtesy of Trading View updates the action. The break of support implies a short – term moveContinue reading “Philippines Stock Exchange – Break Below Important Support”

Philippines Stock Exchange Important Support Levels

The Philippines Stock Exchange Index (PSEI) is nearing two support levels.  A break below both these levels could open the door to a multi-month decline. The daily PSEI and S&P 500 (SPX) courtesy of Trading View illustrates their recent action. In the last few weeks, it appeared  the PSEI could rally into Fibonacci resistance atContinue reading “Philippines Stock Exchange Important Support Levels”

Key S&P 500 – Support and Resistance

The 05/10/23- S&P 500 (SPX) trading session was wild and unusual.  The 5 – minute SPX chart courtesy of Trading View illustrates the action. The monthly U.S. – CPI report was released at 8:30 AM – EDT and triggered a huge rally.  Just before the SPX session began at 9:30 AM – EDT, the S&PContinue reading “Key S&P 500 – Support and Resistance”