Secondary Bottom Could be in Place

The 05/13/22 blog “Momentum Indicator Review – 05/13/22” noted that “Since the S&P 500  (SPX)  03/29/22  top the rallies  have  not lasted longer than three- trading days.” For three full trading days after the 05/12/22 bottom, US stocks indices  had  powerful rallies.  Then  05/18/22, right on cue the bears  initiated a vicious counterattack. The NasdaqContinue reading “Secondary Bottom Could be in Place”

Fibonacci Price and Time Connections

It’s possible that the S&P 500 (SPX) decline since the start of 2022 is  the fourth Primary degree wave of a  five – wave Elliott  impulse pattern that began in March 2009.  This theory was examined in the 02/27/22 blog “S&P 500 Long – Term Elliott Wave Count – 02-25-22”.   The SPX April to JuneContinue reading “Fibonacci Price and Time Connections”

Long – Term S&P 500 – Elliott Wave Count 05-03-22

The S&P 500 (SPX) rally from 05/02/22 to 05/03/22 looks like a corrective pattern which implies the SPX could go below the 05/02/22 bottom.  The monthly SPX chart courtesy of Trading View illustrates  the long- term Elliott wave count. Within Elliott motives  waves  there’s usually a Fibonacci relationship between waves “two” and “four”.  The SPXContinue reading “Long – Term S&P 500 – Elliott Wave Count 05-03-22”

Sharp Stock Reversal – Part – Three

Objectivity is the most important trait that traders must have.  Traders objectively analyze the balance of evidence before acting.  If the evidence indicates a market/stock could rise – it does rally but is subsequently quickly reversed, then conditions have change.  If conditions changed, then you must objectively view the new evidence produced from the change.Continue reading “Sharp Stock Reversal – Part – Three”

Sharp Stock Reversal – Part – Two

Today 04/22/22 the powerful stock decline that began 04/21/22 continued through the entire trading session. Today at the S&P 500 (SPX) open, traders sold half of a 50% long position on non-leveraged SPX related funds.  The long entry was at  the open of the SPX 04/18/22 session. SPX open price on 04/18/22 was 4385.63. SPXContinue reading “Sharp Stock Reversal – Part – Two”

Possible S&P 500 – Full Moon Bottom 04-18-22

There was a Full Moon on Saturday 04/16/22, using a leeway of plus two trading days  targeted  either 04/18/22 or 04/19/22 for a possible S&P 500 (SPX) bottom. On 04/18/22 the SPX made a new low of the decline that began on 03/29/22. The low for the day was 4370.30, main Fibonacci support noted inContinue reading “Possible S&P 500 – Full Moon Bottom 04-18-22”

Stock Market Bears are Losing the Battle

In  Elliott wave theory the most powerful bullish or bearish formation is referred  to as  a series of “one’s” and “two’s.”  In a bull market, using standard technical chart patterns this would be a rally followed by a base, then another rally/base.  The rally after the second base is usually enormously powerful and dynamic. TheContinue reading “Stock Market Bears are Losing the Battle”

Possible Short-Term Bottom Made on 04-12-22

Recent blogs have noted that the S&P 500 (SPX) decline since the 03/29/22 high could be an Elliott wave – Double Zigzag  corrective pattern.  The SPX – 30 – minute chart courtesy of Trading View updates the Elliott wave count. The 04/13/22 blog “Short – Term Bottom Forecast” illustrated two possible SPX Elliott wave counts. Continue reading “Possible Short-Term Bottom Made on 04-12-22”