Category Archives: Price

At today’s open 10/01/20 the S&P 500 (SPX) had completed five waves up.  Additionally, the hourly SPX – Stochastic had a bearish crossover, yet instead of continuing the decline that began on 09/30/20 the SPX moved above its 09/30/20 high.  This changed the Elliott Wave count, there are now seven waves up from the 09/24/20Continue reading “S&P 500 Continues to Rise”

The prior blog post noted that short-term market timers had become excessively bearish, a condition that implied US stocks could be at or near a bottom. The hourly S&P 500 (SPX) chart courtesy of Trading View illustrates a choppy decline September 2to September 24.  This appears to be an Elliott Wave Double Zigzag corrective pattern. Continue reading “Evidence Swings Bullish”

Pfizer (PFE) is one of nine companies that are working to develop a Coronavirus vaccine. The company has said they could have the vaccine by the end of October. The stock from the late 2018 appears to have declined in an Elliott Wave corrective pattern known as a Double Zigzag.  The rally from the 2020Continue reading “Pfizer Bullish Opportunity”

The previous blog had a recommendation to buy non leveraged funds that track the SPX in the price zone of 3420 to 3380.  Today the SPX opened below the zone – no trade.  Subsequently the SPX went below the low of 9/4/20 which was important Fibonacci support. This opens the door for the SPX toContinue reading “Trade Recommendation – Update”