Category Archives: Price

For several months evidence has suggested  the US stock market could be approaching the end of the bull run since at least March 2020.  A  long-term comparison of the S&P 500 (SPX) with Crude Oil – WTI (CL2!) may give us a preview of what could happen in the next few months. The monthly CL2!Continue reading “Comparison of Crude Oil and the US Stock Market”

The “S&P 500 Near Important Support 10-14-21” blog noted the S&P 500 (SPX) was near overhead and Fibonacci resistance in the SPX 4440 to 4465 area.  Subsequently the SPX pushed above the resistance and has now reached the final resistance zone of the 09/02/21 to 10/04/21 decline. Trading View has an index called SPX500 whichContinue reading “Short – Term  Target of Opportunity”

Today 10/14/21 the S&P 500 (SPX) rallied to just below important resistance. Fibonacci .618 retrace of the 09/02/21 to 10/04/21 decline. Maximum volume using the Market Profile method on S&P 500 E-Mini futures is near the .618 retracement. Broad chart overhead resistance. The SPX 60 – minute chart courtesy of Trading View illustrates the actionContinue reading “S&P 500 Near Important Resistance 10-14-21”

Today’s 10/07/21 powerful opening rally of US stocks added evidence that the decline from early September is probably a correction within an ongoing bull market.  The big question – is the S&P 500 (SPX) 10/04/21 bottom the end of the correction? What happened during today’s trading session puts doubt in the case that a newContinue reading ”     Are Stock Bulls in Control?”

A  very effective method to discover support/resistance is by using Point and  Figure  charts. A Point-and-Figure (P&F) chart plots price movements for stocks, bonds, commodities, or futures without taking into consideration the passage of time.  P&F charts utilize columns consisting of stacked X’s or O’s, each of which represents a set amount of price movement.Continue reading “Possible Support Zone – Part Three”

Since the bull market began on 03/23/20 every S&P 500 (SPX)   a multi-day correction bottom has held. The simple definition of a bull market is a series of higher highs and higher lows.  Today 09/20/21 that has changed  – the SPX has broken below the last multi-day correction bottom made on 08/19/21. The daily SPXContinue reading “Very Important Support Broken!”

There’s a double bottom in the S&P 500 (SPX) 4470.00 area.  This corresponds with daily volume profile support on the S&P 500 – December 2021 E- Mini futures contract. The 15- minute SPX chart courtesy of Trading View illustrates the support zone. If the SPX breaks below 4468.99 there’s no significant chart support until theContinue reading ”  Important S&P 500 Support”

During the last six years there have been two Fibonacci price extensions that have precisely forecasted important S&P 500 (SPX) tops.  Perhaps a third Fibonacci price extension could soon forecast another SPX peak. The weekly SPX chart courtesy of Trading View illustrates the 2015 top. A  1.618 Fibonacci extension of the SPX 2007 to 2009Continue reading “Fibonacci Price Extensions”

Yesterday 08/25/21 was the thirty – fourth anniversary of the US stock market top that preceded the 1987 global stock market crash.  On 08/25/21 both the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs. Today 08/26/21 the IXIC made a marginal new all-time high unconfirmed by the SPX and Dow Jones IndustrialContinue reading “Time is the Most Important Factor”

On 08/20/21 the  US stock market as measured by September  S&P 500 E-Mini Futures contract (ESU2021) may have reached a maximum resistance area. If so, an important secondary top could be in place. A  key aspect of the ”Market Profile” method is discovery of support/resistance zones. This can be achieved by examining either price orContinue reading “US Stocks at Maximum Resistance?”