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”
Category Archives: Elliott Wave
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”
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”
Four Dimension Trading 