On 8/18/23 the Nasdaq Composite (IXIC) bottomed out after its post 07/19/23 decline. The rally after the 08/18/23 bottom could still be a fourth wave of a developing motive pattern. However, the size of the rally is suspiciously large for a presumed wave “four”. This current blog examines two other potential Elliott wave counts. TheContinue reading “Nasdaq Composite Elliott Wave Count – 08/25/23”
Category Archives: Elliott Wave
Elliott Wave Count For U.S. Stock Indices – 08/23/23
The post 08/18/23 rally in U.S. stock indices could be complete. The 08/19/23 blog “S&P 500 First Wave Down Nearly Complete – 08/18/23” illustrated that the S&P 500 (SPX) may have completed Minuette wave (iv) of Minute wave “v” – boxed of the post 07/27/23 decline. The 30 – minute SPX chart courtesy of TradingContinue reading “Elliott Wave Count For U.S. Stock Indices – 08/23/23”
S&P 500 First Wave Down Nearing Completion – 08/18/23
The 08/16/23 blog “S&P 500 – Downside Targets – 08/16/23” noted. “A Fibonacci .236 retrace of October 2022 to July rally is near SPX 4,350. The SPX closed 08/16/23 at 4,404 and could reach 4,350 on 08/17/23.” On the S&P 500 (SPX) 08/18/23 open it reached 4,350 and quickly bottomed out at 4,335. Could thisContinue reading “S&P 500 First Wave Down Nearing Completion – 08/18/23”
Philippines and Vietnam Stock Markets Update – 08/17/23
The 07/15/23 blog “Philippine Stock Exchange an Elliott Wave Tutorial” illustrated that the Philippine Stock Exchange (PSEI) could be rising in an Elliott wave – Double Zigzag pattern. The daily PSEI chart courtesy of Trading View updates the action. About 85 to 90% of the time the second Zigzag of a Double Zigzag pattern willContinue reading “Philippines and Vietnam Stock Markets Update – 08/17/23”
Follow the Leaders
Two of the leading stocks during the 2023 rally now appear to be leading the way down.For decades Apple Inc. (AAPL) has been one of the best performing U.S stocks. During the 2023 bull run AAPL continued to outperform the broader U.S. stock market. The weekly AAPL chart courtesy of Trading View illustrates its performanceContinue reading “Follow the Leaders”
S&P 500 – Short – Term Elliott Wave Count – Update 08/11/23
The 08/10/23 blog noted that the S&P 500 (SPX) may have completed an Elliott wave extended Impulse wave at the 08/09/23 bottom. The pattern after the 08/09/23 low was expected to be a developing Elliott wave -Inverse Expanding Flat. The 5 – minute SPX chart courtesy of Trading View updates the action. Expanding Flats areContinue reading “S&P 500 – Short – Term Elliott Wave Count – Update 08/11/23”
S&P 500 – Short – Term Elliott Wave Count – 08/10/23
The prior blog noted that if the S&P 500 (SPX) broke below the 08/09/23 bottom it could open the door for a move down to the SPX 4,385 to 4,410 area. What happened was a marginal move below the 08/09/23 bottom and another bullish momentum divergence. The hourly SPX chart courtesy of Trading View examinesContinue reading “S&P 500 – Short – Term Elliott Wave Count – 08/10/23”
Rising Long-Term Interest Rates – Part Two
The 07/27/23 blog “Rising Long-Term Interest Rates – 07/27/23” illustrated a bullish Elliott wave count forecasting a move in U.S 30-year Treasury yields (TYX) above the October 2022 peak. Point & Figure chart analysis identifies potential resistance points on the upside path. Markets are battlefields between bullish and bearish forces. Point & Figure charts provideContinue reading “Rising Long-Term Interest Rates – Part Two”
Rising Long – Term Interest Rates – 07/27/23
The 07/26/23 blog “Money Goes Where it is Treated Best” noted that the FOMC raising short-term interest rates could cause stock fund managers to sell stocks in favor of a nearly risk-free return. A rise in long-term interest rates/yields could be averse to stocks. The 07/08/23 blog “Examination of Long and Short-Term Interest Rates” illustratedContinue reading “Rising Long – Term Interest Rates – 07/27/23”
Philippines Stock Exchange an Elliott Wave Tutorial
The movements of the Philippines Stock Exchange Index (PSEI) in 2023 have been textbook Elliott wave patterns. The daily PSEI chart courtesy of Trading View provides lessons in learning the Elliott wave theory. The first step in Elliott analysis is breaking price movements into segments. In this case the first segment to examine is theContinue reading “Philippines Stock Exchange an Elliott Wave Tutorial”
Four Dimension Trading 