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”
Category Archives: Elliott Wave
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”
Big Move Up Not Down
Near the end of the 2022 trading year, it appeared the S&P 500 (SPX) was basing for a big move up that could begin on the first trading day of 2023. What happened was a continuation of the sideways move that developed into what looked like an Elliott wave – Horizontal Triangle. On 01/05/23 theContinue reading “Big Move Up Not Down”
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”
The Bear is Back
Today 12/15/22 the S&P 500 (SPX) broke below an important bottom made on 11/17/22 at 3,906.54. Additionally, the decline from 4,100 appears to be a developing Elliott Impulse wave which implies the primary trend may now be bearish. The daily SPX chart courtesy of Trading View illustrates the intermediate – term view. The SPX brokeContinue reading “The Bear is Back”
NYSE Composite – Update – 12/09/22
The previous blog noted that hourly momentum of the NYSE Composite (NYA) was bullish. However, on 12/09/22 the bears were able to overpower the bulls. The hourly chart courtesy of Trading View shows the turn of the tide. The 12/08/22 blog illustrated that NYA important resistance was at 15,452.76 on 12/09/22 the NYA failed toContinue reading ” NYSE Composite – Update – 12/09/22″
Bull Market Revival
On 12/07/22 it appeared that US stocks could continue to decline. Evidence on 12/08/22 from the price and momentum dimensions imply that the wounded bull market could be recovering. To discover the best Elliott wave count, examine several stock market indices, sector ETF’s and sometimes individual stocks. The prior blog noted that the S&P 500Continue reading “Bull Market Revival”
Nasdaq Composite – Elliott Wave Count
Both the S&P 500 and the Dow Jones Industrial Average 2022 bear moves from their respective all-time highs have the look of Elliott wave corrective patterns. The Nasdaq Composite (IXIC) and the Nasdaq 100 (NDQ) declines from November 2021 to October 2022 appear to be Elliott wave motive patterns. In particular extended Impulse waves. IfContinue reading “Nasdaq Composite – Elliott Wave Count”
Four Dimension Trading 