Category Archives: Price

The 05/11/21 blog “S and P 500 – Detailed Elliott Wave Count – 05-11-21” noted that the Dow Jones Industrial Average (DJI) – Primary wave “1” rally from March 2009 to April 2010 equaled the time of the supposed Primary wave “5” rally March 2020 to May 2021.  There’s also a price relationship as PrimaryContinue reading “Major S&P 500 Price and Time Targets 06-16-21”

Just after the open on 06/01/21 the S&P 500 (SPX) reached 4234.12 which is a 97.8% retracement of the decline from 4238.04 to 4056.88.  The maximum retracement of the supposed  impulse wave down from 4238.04 is 99.9%, in Elliott wave rules a 100% retracement would eliminate the bearish wave count.  The 30-minute SPX chart courtesyContinue reading “Ninety Seven Percent Retracement”

Recently one of my friends who also analyzes the markets asked me; what was the maximum retracement for Elliott second waves.  My answer was 99.9%.  Wave “twos” generally have deep retracements, the most common Fibonacci level is .618.  Sometimes wave “two’s” can have shallow retracements – there’re  in the minority.   The reason wave “twos”Continue reading “Continuing Counter Trend Rally”

The US stock market as measured by the S&P 500 (SPX) could be in the first 10% decline since the September 2020. The turn down from SPX peak on 05/07/21 and the Dow Jones Industrial Average top on 05/10/21 has been  strong and steady.  The SPX 30 – minute chart courtesy of Trading View illustratesContinue reading “The First Downside Target For US Stocks”

The 05/04/21 post noted that usually after a break of a  support level, the prior support then becomes resistance.  On 05/05/21 the S&P 500 (SPX) pushed above the prior battle line support, hinting continuing bullish action. On 05/07/21 the bulls pushed  the SPX  to a new all-time high.  The daily SPX chart courtesy of TradingContinue reading “The Bull Strikes Back”

On 05/04/21 the S&P 500 (SPX) opened at 4170.87 below the battle line discussed in the prior post “Battle Line – May 2021”. That post noted a break below the line could open the door for the SPX to rapidly fall to the 4140 area.  This was achieved in the first hour, and shortly afterwardsContinue reading “Battle Line Bearish Break Through”

Markets are a form of non-violent warfare; each trading days is a constant battle for dominance between  the bulls and bears. Determining strong points  defended  by bulls and bears, known in trading as support/resistance is key to knowing which side could prevail.   A  strong area of support for the S&P 500 (SPX)  has appeared thatContinue reading “The Battle Line – May 2021”

The first phase or kick off of the S&P 500 (SPX) secular bull market was from 03/06/09 to 04/26/10. This move lasted 286 trading days and gained 82.9. This was one of the farthest and fastest rallies in US stock market history. The bull phase that began on 03/23/20 to today – 04/16/21 has lastedContinue reading “Blow Off Top on Top of a Blow Off Top”

On 04/06/21 the supposed S&P 500 (SPX)  – Ending Diagonal Triangle (EDT) throwover was at an extreme.  The 04/06/21 blog “The Cherry on Top” noted  “ If the rally into the high of the day was a completed EDT there’s a high probability the SPX could trend down throughout most of 04/07/21”.  This didn’t happen,Continue reading “Pattern Broken”