Category Archives: Elliott Wave

S&P 500 Bullish and Bearish – Elliott Wave Counts

On 02/18/22 the S&P 500 (SPX) decline to the edge of what could be  important support. The daily SPX chart courtesy of Trading View illustrates a bullish Elliott wave count. The 02/17/22 blog “Potential Stock Buying Opportunity on 02-18-22” noted that an Elliott wave – Horizontal Triangle may have been completed on 02/17/22.  The keyContinue reading “S&P 500 Bullish and Bearish – Elliott Wave Counts”

Potential Stock Buying Opportunity on 02-18-22

After the S&P 500 (SPX) 01/04/22 top the declines and rallies  have  been three – wave structures and appears  be an Elliott wave – Horizontal Triangle which may have completed at the low made on 02/17/22.  The SPX 30 – minute chart courtesy of Trading View illustrates  the wave structure. There are Fibonacci relationships amongContinue reading “Potential Stock Buying Opportunity on 02-18-22”

The Bulls Strike Back

Elliott wave “fours” in standard impulse waves are normally shallow usually retracing a Fibonacci .382 of the third wave, or .382 of the movement from the start of wave “one” to the end of wave “three”.  The reason for shallow retracements  is  that at whatever time scale, a change of trend is  perceived, and counterContinue reading “The Bulls Strike Back”

  Choppy Rallies and Choppy Declines

Since the S&P 500 (SPX) decline bottom made on 01/24/22 the moves up have been choppy, and the moves down have been choppy. An Elliott wave – Horizontal Triangle could be forming.  This structure was examined the 01/14/22 blog “Important Cycle Point – 01-14-22” and in  the 01/19/22 blog “Horizontal Triangle Update – 01-19-22.” HorizontalContinue reading ”  Choppy Rallies and Choppy Declines”

The Next  S&P 500 – Support Level

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  the long – term Elliott wave count and the next potential support zone. The Fibonacci .236 retrace level of the SPX bull market from the March 2020 bottom is at SPX 4198.71.  Just below this is  the bottom made on 06/18/21 at 4164.40.  ThisContinue reading “The Next  S&P 500 – Support Level”

Something Different is Happening

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  the action on 01/24/22. The SPX went 4.7% below its 200 – day Moving Average (MA).  Moves of more than 2% below the 200 – day-  MA  imply something more bearish developing. At today’s low the SPX had declined 12.4% from the all-time highContinue reading “Something Different is Happening”

Horizontal Triangle Update – 01-19-22

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”

  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”