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”
Category Archives: Elliott Wave
Whipsaw Action
On 04/28/22 it was announced that the first quarter US – GDP decreased. US stocks had a big rally on this bearish news. The next trading day US stocks had a big decline wiping out the prior day rally. On 05/04/22 the FOMC announced an interest rate increase. US stocks had a big rally onContinue reading “Whipsaw Action”
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”
Sharp Stock Reversal
Today 04/21/22 the S&P 500 (SPX) opened above the high made on 04/20/22. The rally lasted only 21 – minutes, what followed was steep drop that continued throughout the trading day. The few rally attempts were shallow, the bears dominated. The 5 – Minute SPX chart courtesy of Trading View illustrates the action. The rallyContinue reading “Sharp Stock Reversal”
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”
Short – Term Bottom Forecast
The 04/12/22 blog “S&P 500 Decline is Losing Momentum” noted that the S&P 500 (SPX) may have completed an Elliott wave – Double Zigzag correction at the 04/12/22 bottom. The first 30-minute SPX chart courtesy of Trading View illustrates a completed Double Zigzag at the 04/12/22 bottom. On 04/13/22 the SPX rallied the entire day;Continue reading “Short – Term Bottom Forecast”
Four Dimension Trading 