Category Archives: Price

Basing for a Bigger Move Up? – 12/29/22

Extraordinary high Put/Call reading  may have indicated an important bottom. Today 12/29/22 one trading day after a very high Put/Call ratio, the S&P 500 (SPX) rallied close to 2%. The hourly SPX chart courtesy of Trading View illustrates a potential base that began on 12/21/22. The SPX moved above  maximum Fibonacci leeway at 3,850, notedContinue reading “Basing for a Bigger Move Up? – 12/29/22”

 Resistance Reached – 12/23/22

Markets  are attracted to Fibonacci resistance/support areas.  This websites 12/22/22 blog noted two S&P 500 (SPX) Fibonacci retracement points.  At SPX 3,841.94 and 3,843.90, this resistance was reached on 12/23/22.  The SPX – 15 – minute chart courtesy of Trading View shows what happened. Exact hits of Fibonacci coordinates are rare, therefore  allow for leewayContinue reading ” Resistance Reached – 12/23/22″

  Support Broken – 12/22/22

Today, 12/22/22 all three main U.S stock indices broke below an important bottom made on 12/20/22.  In the first half of todays trading session the bears were totally in control, smashing prices  relentlessly lower.  It appeared the trend could be down the entire session, with the low of the day coming near or at theContinue reading ”  Support Broken – 12/22/22″

Examination of U.S  Interest Rates – 12/09/22

  On 12/14/22The FOMC will decide about U.S short – term interest rates.  Its expected they will raise rates only .50% as opposed to  recent increases of .75%. Whatever the decision is, evidence suggest U.S interest rates could continue to rise for several years. The daily chart courtesy of Trading View shows the yield curveContinue reading “Examination of U.S  Interest Rates – 12/09/22”

     Wounded Bull Market

On 12/06/22 the S&P 500 (SPX) broke below important support made on 11/29/22, wiping out all of the gains  made  during the powerful 11/30/22 rally.  Additionally, the decline from the 12/01/22 peak at 4,100 has the look of a developing Elliott – Impulse wave.  If so, this could be the first wave down of aContinue reading ”     Wounded Bull Market”

Breaking Through Resistance – Part -Two

So far the S&P 500 (SPX) has been able to have two daily closes above the 200 – day moving average (MA). This was probably a factor in bringing in buying at the open of the 12/02/22 session. There’s still one potential resistance barrier to overcome – the declining trendline from the January 2022 all-timeContinue reading “Breaking Through Resistance – Part -Two”

Additional Bullish Evidence – 12/02/22

The S&P 500 (SPX) 12/01/22 to 12/02/22 decline has given several clues that the rally from mid  – October is likely to continue. The 5 – minute chart courtesy of Trading View illustrates  the action. The drop from 4,100 has the look of an Elliott wave – Zigzag  correction. The decline so far has retracedContinue reading “Additional Bullish Evidence – 12/02/22”

Breaking Through Resistance – 11/30/22

Today 11/30/22 the S&P 500 (SPX) broke above the 11/25/22 peak and the 200 – day moving average (MA). This  move could trigger fund managers into additional stock purchases. The daily SPX chart courtesy of Trading View illustrates the action. The next resistance is the declining trendline from the January 2022  top.  A move aboveContinue reading “Breaking Through Resistance – 11/30/22”

  Avis Budget Group is Near a Buy Point

Investor’s Business Daily (IBD) has Avis Budget Group Inc. (CAR) on its lists of stocks nearing a buy point.  IBD uses the “Cup with handle” formation to identify entry points. The daily chart of CAR courtesy of Trading View illustrates  the stock’s recent history. The buy point is just above the cup high at 246.42Continue reading ”  Avis Budget Group is Near a Buy Point”