During the last few months, the US stock market has had a deterioration of internal momentum. Something similar happened in 2015, except then the US main stock indices went sideways forming a double top. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the action from 2014 to 2016. The SPX madeContinue reading “Examination of the August 2015 – Mini Crash”
Category Archives: Price
Examination of August Stock Market Tops
The broad bearish seasonal pattern for US stocks runs from late April until October. Sometimes if a top is not made in the April to May zone, a peak could be made in August. Two classic examples of September to October bear moves occurred in 1987 and 2000. These price smashing bear markets could revealContinue reading “Examination of August Stock Market Tops”
S&P 500 – Support and Resistance – August 17, 2021
On 08/16/21 the S&P 500 (SPX) peaked at 4480.26 which was almost a bullseye hit of the Fibonacci resistance target illustrated in the 07/27/21 blog “Market Nexus Points”. The weekly SPX chart courtesy of Trading View updates the chart illustrated in that blog. Logarithmic scale is usually the best method to measure Fibonacci points afterContinue reading “S&P 500 – Support and Resistance – August 17, 2021”
Market Nexus Points – Part Three
The 07/27/21 blogs, “Market Nexus Points” and “Market Nexus Points – Part Two” examined S&P 500 (SPX) nexus points using logarithmic scale. This blog examines a potential nexus point using arithmetic scale. R.N Elliott stated that when using trend lines to aid in the discovery of wave patterns, its possible to use both logarithmic andContinue reading “Market Nexus Points – Part Three”
Market Nexus Points – Part Two
Robert Prechter’s book “Beautiful Pictures” illustrated Fibonacci time/price relationships within the Dow Jones Industrial Average bull move from July 1932 to January 2000. Prechter also examined Fibonacci time/price relationships from 1974 to 2000 that tied in with targets derived from the larger price structure. The previous blog “Market Nexus Points” illustrated Fibonacci time/price relationshipsContinue reading “Market Nexus Points – Part Two”
Market Nexus Points
Robert Prechter’s book “Beautiful Pictures” illustrated several examples in which long-term stock market structures could be divided into Fibonacci price/time sections. One example showed that the Dow Jones Industrial Average bull move from July 1932 to January 2000 was divided into two thirty-four-year sections with the 1966 peak as the nexus point. Its possible theContinue reading “Market Nexus Points”
S&P 500 – Downside Target Zone
Today’s – 07/19/21 sharp decline broke below the micro-crash bottom made on 07/08/21 and could be the kickoff of a larger developing drop. Momentum evidence supports this theory. Daily RSI is 43%, the oversold zone begins at 30%. Daily MACD had a bearish line crossover. The daily S&P 500 (SPX) chart courtesy of Trading ViewContinue reading “S&P 500 – Downside Target Zone”
Major S&P 500 Price and Time Targets 06-16-21
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”
Ninety Seven Percent Retracement
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”
Continuing Counter Trend Rally
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”
Four Dimension Trading 