In recent weeks Financial stocks have been the most bullish U.S. stock market sector. This rally could be the last gasp of a dying bull market. The daily charts of State Street – Financial Sector (XLF) and State Street – Technology Sector (XLK) courtesy of Trading View illustrate their relationship. Technologies have been the trueContinue reading “The New Leader for U.S. Stocks?”
Category Archives: Price
Important Support Levels – July 2026
On 07/23/26 S&P 500 (SPX) decline 1.20% if the decline is to continue there are two important support levels that need to be broken. The first support level is illustrated in the daily SPX chart courtesy of Trading View. SPX on 07/23/26 went marginally below a Fibonacci .618 retrace of the 06/26/26 to 07/15/26 rally. Continue reading “Important Support Levels – July 2026”
Conflicting Momentum Indicators – July 2026
As we enter mid – July 2026 two U.S. stock market momentum indicators are giving conflicting messages. First a look at the Advance/Decline (A/D) line which has a long history of forecasting significant U.S. stock market turns. The A/D line peaks prior to stock index ultimate peaks, creating a bearish divergence. At significant bottoms theContinue reading “Conflicting Momentum Indicators – July 2026”
Weak Trendline Breakthrough – 07/10/26
The prior blog “Prelude to New Highs? – July 2026” illustrated that the S&P 500 (SPX) since 06/02/26 may have formed an Elliott wave – Horizontal Triangle. As of 07/09/26 SPX was at the edge of a declining trendline from the 06/15/26 peak. The break above this trendline on 07/10/26 should have triggered a powerfulContinue reading “Weak Trendline Breakthrough – 07/10/26”
The Lonely Dow Jones Industrial Average – July 2026
The Dow Jones Industrial Average (DJI) continues to be the only main U.S. stock indices making all-time highs. The daily chart of DJI, S&P 500 (SPX), and Nasdaq Composite (IXIC) courtesy of Trading View updates the action of the three main U.S. stock indices. When only one of the three main U.S. stock indices isContinue reading “The Lonely Dow Jones Industrial Average – July 2026”
Elements of a Stock Market Mania
An examination of two stocks participating in the AI and technology mania reveals fascinating data. The first is Micron Technology Inc. (MU) which was last illustrated in the 05/30/26 blog “Micron Technology Inc. Upside Target”. The weekly MU chart courtesy of Trading View updates the action. There are always alternate Elliott wave counts. The 05/30/26Continue reading “Elements of a Stock Market Mania”
Advance/Decline Lines at New Highs – June 2026
On 06/26/26 both the NYSE Composite Advance/Decline line and the S&P 500 Advance/Decline line made new all-time highs. This factor implies more upside action for both stock indices. The daily NYSE Composite Advance/Decline line ($NYAD) courtesy of StockCharts.com illustrates its action over the last six months. The pattern of the line for six months isContinue reading “Advance/Decline Lines at New Highs – June 2026”
Sector Analysis of the S&P 500 – June 2026
State Street Investment Management has Exchange Traded Funds (ETF) focusing on eleven – S&P 500 (SPX) sectors. An examination of six sectors reveals fascinating momentum data for the broader U.S. stock market. Daily charts courtesy of Trading View examines the three most bullish sectors; Industrials (XLI), Materials (XLB), and Technology (XLK). On 06/18/26 only oneContinue reading “Sector Analysis of the S&P 500 – June 2026”
The First Tracks of a Looming Bear Market?
S&P 500 (SPX) Elliott wave count since 06/02/26 could be the beginning of a bear market. The SPX – 30 – minute chart courtesy of Trading View updates the chart illustrated in the 06/11/26 blog “S&P 500 – Short Term Elliott Wave Count – 06/11/26” The presumed five waves down from 06/02/26 to 06/09/26 couldContinue reading “The First Tracks of a Looming Bear Market?”
Micron Technology Inc. Update – 06/18/26
The 05/28/26 blog “Massive Rally of Micron Technology Inc.” illustrated that Micron Technology Inc. (MU) had a rally of 207% from its 03/31/26 bottom. Amazingly MU continues to climb. The daily MU chart courtesy of Trading View updates the action. As of 06/18/26 MU has risen an incredible 271% from its 03/31/26 bottom! Daily RSIContinue reading “Micron Technology Inc. Update – 06/18/26”
