Seasonal patterns for stocks are bearish until October. A break below a strong support zone could trigger a mini – crash bottoming sometime in October 2023. The recent blog “S&P 500 – Support Levels – 09/20/23” noted, (The first support area is the double bottoms of 06/26/23 and 08/18/23. The important level is 4,328.08 madeContinue reading “Possible Major S&P 500 – Bottom October 2023”
Category Archives: Elliott Wave
Upside Target for U.S. Treasury Yield
The 09/09/23 blog “U.S. Interest Rates Ready to Thrust Higher” noted that long – term U.S. interest rates/yields could soon make new highs. Also noted, (The most important point on the chart is the 08/21/23 peak at 4.474 which is labeled Minor wave “1”.) Today 09/21/23 U.S. 30 – year treasury yields (TYX) blasted aboveContinue reading “Upside Target for U.S. Treasury Yield”
Crude Oil Elliott Wave Pattern – 09/15/23
The 04/16/23 blog “Crude Oil Elliott Wave Pattern – 04/14/23” illustrated that Crude Oil – Continuous Futures (CL2!) had completed a Primary degree Elliott Impulse wave at 64.58 on 03/20/23. Subsequently Crude Oil rallied and then made a marginal new low at 63.60 on 05/04/23. The 05/07/23 blog “Crude Oil Update – 05/05/23” updated theContinue reading ” Crude Oil Elliott Wave Pattern – 09/15/23″
S&P 500 – Upside Target Hit – 09/14/23
The 09/13/23 blog “S&P 500 – Elliott Wave Count Update – 09/13/23” illustrated that the S&P 500 (SPX) could rally to a chart resistance area. Today 09/14/23 the SPX hit that upside target. Also noted in the 09/13/23 blog (The shallow and choppy decline from the SPX 09/11/23 top at 4,490.77 labeled Minuette wave (a)Continue reading “S&P 500 – Upside Target Hit – 09/14/23”
S&P 500 – Elliott Wave Count Update – 09/13/23
The 09/12/23 blog noted “The SPX since its 07/27/23 top could be forming a series of “one’s” and “two’s” down”. This is still the most likely Elliott wave count, however the second wave “two” – up of the series may still be under development. The 15-minute S&P 500 (SPX) chart courtesy of Trading View updatesContinue reading “S&P 500 – Elliott Wave Count Update – 09/13/23”
S&P 500 – Short-Term Elliott Wave Count – 09/12/23
The S&P 500 (SPX) could be developing a very bearish Elliott wave count. The hourly SPX chart courtesy of Trading View updates the action. The SPX since its 07/27/23 top could be forming a series of “one’s” and “two’s” down. Minor waves “1”- “2” and Minute wave “I” – “ii” are main portions of theContinue reading “S&P 500 – Short-Term Elliott Wave Count – 09/12/23”
U.S. Interest Rates Ready to Thrust Higher?
Amazingly clear Elliott wave patterns indicate U.S. long-term rates/yields could soon make new highs. The 09/02/23 blog “U.S. Interest Rates Could Soon Make New 2023 Highs” illustrated the daily the CBOE 30- year Treasury Yield chart (TYX) courtesy of Trading View. Subsequent action supports the theory of long – term U.S. interest rates movingContinue reading “U.S. Interest Rates Ready to Thrust Higher?”
U.S. Interest Rates Could Soon Make New 2023 Highs
The next U.S. FOMC decision on short-term U.S. interest rates is 09/20/23. Between now and then there’s likely to be considerable speculation on what action the FOMC could take. Rather than partake in a guessing game, focus on what’s happening at the long end of the U.S. interest rate curve. The daily CBOE 30 –Continue reading “U.S. Interest Rates Could Soon Make New 2023 Highs”
Possible Counter Trend Peak for U.S. Stocks – 08/30/23
The Nasdaq Composite (IXIC) declined from 07/19/23 to 08/18/23. On 08/30/23 the IXIC and the other two main U.S. stock indices may have made tops in a developing bear trend. The 08/26/23 blog “Nasdaq Composite Elliott Wave Count – 08/25/23” illustrated a potential resistance zone from 13,900 to 13,980. The IXIC – two-hour chart courtesyContinue reading “Possible Counter Trend Peak for U.S. Stocks – 08/30/23”
Apple Inc. – Clear Elliott Wave Pattern
Sometimes individual stocks can have amazingly clear and accurate Elliott wave patterns. The recent action of Apple Inc. (AAPL) could be very helpful in timing the broader U.S. stock market. The two – hour APPL chart courtesy of Trading View illustrates its Elliott wave pattern since 07/19/23. From 07/19/23 to 08/18/23 APPL formed a clearContinue reading “Apple Inc. – Clear Elliott Wave Pattern”
Four Dimension Trading 