Category Archives: Elliott Wave

The Most Bullish U.S Stock Sector

Of the twelve SPDR Sector Select ETF’s the most bullish is the Energy sector fund (XLE).  From the first trading day of 2022 – 01/03/22 to 01/27/23 the S&P 500 (SPX) is down 14.4%.  The XLE over the same time is up 65.4%.  Assuming the current uptrend in U.S stocks continues, XLE is likely toContinue reading “The Most Bullish U.S Stock Sector”

Fourteen Year Pattern Nearing Completion

Some time in the next few months a major national stock index could be completing an Elliott wave pattern that began in October 2008. One of the most fascinating discoveries that R.N Elliott made about wave theory is that  form remains constant regardless of size.   A wave pattern of five – hours could have theContinue reading “Fourteen Year Pattern Nearing Completion”

Philippine Stock Exchange – Update – 01/20/23

Recently several national stock markets have exhibited bullish signals.  One of the strongest upside markets is the Philippine Stock Exchange (PSEI). The daily PSEI chart courtesy of Trading View illustrates its performance. Since October 2022 the PSEI has outperformed the S&P 500 (SPX) by a wide margin.   From October to December the SPX had aContinue reading “Philippine Stock Exchange – Update – 01/20/23”

Nearing the Bear Panic Point

The S&P 500 (SPX)  is close to the declining trendline from the January 2022 top and the 200 – day moving average (MA).  A move above this important resistance could trigger massive, short covering and bring in new  long side trader’s. The panic point is around SPX – 4,000.  Daily momentum suggests a move aboveContinue reading “Nearing the Bear Panic Point”

UK 100 Upside Breakthrough

Last week the UK 100 (UKX) broke above its 2022 high, becoming the first major national stock index to exceed its 2022 peak.  The UKX could help in detecting  a  global stock market top sometime in  early 2023.    The 11/03/22 blog “Bullish Evidence From the United Kingdom Stock Market”  illustrated  that the UKX –Continue reading “UK 100 Upside Breakthrough”

Potential Thrust Down and Bottom on 01/06/23

The S&P 500 (SPX) moves up from 12/19/22 to 01/04/23 have been shallow and choppy, the signature of a correction in a down trend.  Specifically, the movement  appears to be an Elliott wave Horizontal Triangle.  The 30-minute SPX chart courtesy of Trading View shows how this pattern fits within the  action since the 10/13/22 bottom.Continue reading “Potential Thrust Down and Bottom on 01/06/23”

Short – Term Elliott Wave Count – 01/01/23

The prime S&P 500 (SPX)  Elliott wave count from the 12/22/22 bottom is a  series of “one’s” and “two’s” up. This is  the most bullish Elliott wave configuration and the prelude to a powerful move up. The SPX 15-minute chart courtesy of Trading View illustrates the action. Minor wave “1” is a  Leading Diagonal Triangle.Continue reading “Short – Term Elliott Wave Count – 01/01/23”

S&P 500 – Bottoms at Support Level

The 12/17/22 blog “The Bear is  Back – Part Two” illustrated two S&P 500 (SPX) Fibonacci support levels at 3,806.29 and 3,796.27. On 12/20/22 the SPX bottomed almost exactly at the lower level. The daily SPX chart courtesy of Trading View shows what happened. An exact Fibonacci .50 retracement of the SPX October to DecemberContinue reading “S&P 500 – Bottoms at Support Level”