Category Archives: Elliott Wave

R.N Elliott wrote that its acceptable to use both logarithmic and arithmetic scale  in discovering  Elliott wave trend channels. This same theory could also apply to Fibonacci analysis. I’ve noted several times that when there’s a large percentage growth of a market or a stock to use growth rates when examining Fibonacci relationships. Growth comparisonsContinue reading “Fibonacci Resistance Points”

Within the last few weeks  followers of this site have messaged me asking. When will the crash come?  Why are the S&P 500 (SPX) and Nasdaq Composite (IXIC) still climbing? Who’s  buying stocks?   These are understandable questions since the US stock market has continued to climb in the face of enormous bearish evidence.  Large stockContinue reading “When Will the Stock Market Go Down?”

The 07/05/21 blog “The Next S&P 500 Resistance Level” noted that the next S&P 500 (SPX) resistance level could be at 4437.  This level was derived by comparing the growth of the SPX rally from March 2009 to April 2010 with the SPX rally since March 2020. There’s another resistance level calculated solely from theContinue reading “S&P 500 – Elliott Wave Count – 07-09-21”

I’m guessing to many, today’s opening micro crash in US stocks was a big surprise .  Those  observing the extremely bearish Nasdaq – Advance/Decline line and new 52 -week highs for the NYSE and Nasdaq Composite it could have been expected.  The SPX 5-minute chart courtesy of Trading View illustrates a possible short-term Elliott waveContinue reading “Explanation of a Micro – Crash”

The 04/26/21 blog “Struggling to Rally” speculated that the Consumers Staples Fund (XLP) had completed an Elliott five – wave impulse pattern from the 03/23/20 bottom.  Subsequently XLP moved to a new all-time high and peaked on  06/04/21. The daily chart courtesy of Trading View illustrates the updated Elliott wave count. Usually within motive wavesContinue reading “Consumer Staples Fund – Update July 2021”

The 06/16/21 blog  Major “S&P 500 Price and Time Targets – 06-16-21” noted  that the S&P 500 (SPX) had major Fibonacci resistance at 4262 and 4274. Today 06/24/21 the SPX reached 4271 within the area of the two Fibonacci points. On the bullish side of the coin VIX  made a new low and is potentiallyContinue reading “Rally into Major Fibonacci Resistance”

The 06/15/21 blog “ Revised daily S&P 500 Elliott Wave Count – 06/15/21 speculated that an Elliott wave – Ending Diagonal Triangle (EDT) was under construction from the S&P 500 (SPX)  05/12/21 bottom.  Today 06/18/21 the SPX went below what counts as the EDT -Minor wave “2”. The post 06/15/21 decline was a supposed waveContinue reading “Ending Diagonal Triangle is Probably Complete”

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the updated daily Elliott wave count since the bull run that began on 03/23/20. The  log scale and daily RSI shows the weakness of  the supposed Intermediate wave (5).  Price is struggling to rise and appears to be near the point of collapse.  NoteContinue reading “Revised Daily S&P 500 Elliott Wave Count 06-15-21”

On 05/07/21 the S&P 500 (SPX)  reached its all-time 4238.04.  Today 06/09/21 the SPX high was 4237.09 a 99.4% retracement of the post 05/07/21 decline.  Additionally, the SPX may have completed an Elliott wave – Ending Diagonal Triangle (EDT) from the bottom made on 05/12/21. The hourly SPX  chart courtesy of Trading View illustrates theContinue reading “Ninety Nine Percent Retracement”