The presumed S&P 500 (SPX) – Elliott wave Horizontal Triangle illustrated in the 01/15/22 blog could still be forming. The daily SPX chart courtesy of Trading View shows the recent price action. Its possible Minor wave “C” – down is forming. Both lines of daily Stochastic have reached the oversold zone implying that wave “C”Continue reading “Horizontal Triangle Update – 01-19-22”
Category Archives: Elliott Wave
Important Cycle Point – 01-14-22
If the S&P 500 (SPX) bottom of 4614.75 made on 01/14/22 holds, it represents an important cycle point. The daily SPX chart courtesy of Trading View illustrates the best Elliott wave count. It appears an Elliot wave – Running Horizontal Triangle may have completed on 01/14/22. In Running Horizontal Triangles – wave “B” slightly exceedsContinue reading ” Important Cycle Point – 01-14-22″
Possible Major Top in Place for US Stocks – 01- 07-22
On 01/04/22 two trading days after a new moon the S&P 500 (SPX) completed what could be an Elliott – five wave impulse pattern from the 12/03/21 bottom. It could also be the final Intermediate degree wave up from the SPX 10/30/20 bottom, this wave count has been illustrated in several blogs. The daily SPXContinue reading “Possible Major Top in Place for US Stocks – 01- 07-22”
The Clearest Elliott Wave Patterns – December 2021
Several blogs have illustrated that the SPDR – Consumer Staples Fund (XLP) has had one of the clearest Elliott wave patterns since the March 2020 bottom. The 11/14/21 blog “Consumer Staples Fund on Track for Potential Major Top – December 2021” noted that XLP could have a major peak in the area of 75.46. TheContinue reading “The Clearest Elliott Wave Patterns – December 2021”
S&P 500 Could be Basing For a Year End Rally – Part Three
On 12/23/21 the S&P 500 (SPX) moved above the high made on 12/16/21, this invalidated the Elliott wave count illustrated in the 12/21/21 blog. That wave count had the SPX 12/20/21 bottom as a supposed Minor wave “C” of a developing Elliott wave – Horizontal Triangle. If the 12/20/21 bottom was wave “C” then theContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Three”
S&P 500 Could be Basing For a Year End Rally – Part Two
The prior blog noted the S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle correction which could be the prelude to a year end rally . The SPX – 60 – minute chart courtesy of Trading View updates the progress of the presumed Horizontal Triangle. The supposed Minor wave “C” declined deeperContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Two”
S&P 500 Could be Basing For a Year End Rally
The S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle. If so, after its completion the SPX could have surge up in the last week of 2021 to the mid-4800 area. Horizontal Triangles appear only in the fourth wave positions of motive patterns, and in the “B” or “X” wave positions ofContinue reading “S&P 500 Could be Basing For a Year End Rally”
Choppy Stock Decline
The 11/30/21 blog “Bearish November Omen” noted that the intraday decline of the S&P 500 (SPX) since the 11/22/21 top looked corrective. Subsequently the SPX decline continued to look corrective. The SPX – 15- minute chart courtesy of BigCharts.com illustrates the intraday action since the 11/22/21 all-time high. The easiest way to explain Elliott waveContinue reading ” Choppy Stock Decline”
S&P 500 on Track for Potential Major Top – December 2021
The 10/24/21 blog “Possible US Stock Market Top – December 2021” focused on long-term Fibonacci time cycles that indicated US stocks could have a major top sometime in December 2021. The 11/10/21 blog “Possible S&P 500 – Price Topping Zone” illustrated long -term Fibonacci price analysis forecasting the S&P 500 (SPX) could have major resistanceContinue reading “S&P 500 on Track for Potential Major Top – December 2021”
Consumer Staples Fund on Track for Potential Major Top – December 2021
Several blogs have illustrated that the SPDR Consumer Staples fund – (XLP) since March 2020 has a clear Elliott wave pattern. The most recent post was 07/03/21 “Consumer Staples Fund – Update July 2021” and noted that XLP could have completed an Elliott five-wave impulse pattern from March 2020 to June 2021. Subsequent to theContinue reading “Consumer Staples Fund on Track for Potential Major Top – December 2021”
Four Dimension Trading 