Category Archives: Price

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?”

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”

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”

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”