Category Archives: Elliott Wave

The S&P 500 (SPX) 15-minute chart courtesy of Trading View illustrates a probable short-term Elliott wave count. The action since the SPX 08/30/21 high has been a choppy sideways move and appears to be a completed Elliott wave – Horizontal Triangle.  After completion of this structure there’s usually a sharp thrust in the direction ofContinue reading “Short-Term S&P 500 Elliott Wave Count 09-02-21”

The S&P 500 (SPX) rally on 08/27/21 pushed beyond the leeway of major Fibonacci resistance at SPX 4437.63. This potential resistance level was first discussed in the 07/05/21 blog “The Next S&P 500 Resistance Level”.  This Fibonacci point was derived by taking the growth rate of the March 2009 to April 2010 rally – presumedContinue reading “S&P 500 – Alternate Elliott Wave Count 08-27-21”

Today the S&P 500 (SPX) and Dow Jones Industrial Average (DJI) made new all-time highs. The move up since 07/27/21 has been slow and choppy. What’s particularly interesting is the action after the important US Employment report on 08/06/21,which was bullish.  The SPX and DJI made new highs just after the open of their sessionsContinue reading “Slow Rising Market”

A  follower to this blog asked if there was a Fibonacci resistance level for the Nasdaq Composite.  The 07/05/21 blog “The next S and P 500 Resistance Level’’ measured the S&P 500 (SPX) growth from March 2009 to April 2010 with the SPX rally from March 2020.  This examination showed that the rally from MarchContinue reading “Nasdaq Composite Fibonacci Points”

Today 08/02/21 the Dow Jones Industrial Average (DJI) made a new all-time high unconfirmed by the other two main US stock indices – S&P 500 (SPX) and Nasdaq Composite. I refer to this situation as a “rule of the majority signal” in this case a bearish signal, the truth is with the two non –Continue reading “Could August 2, 2021, be an Important Stock Market Top?”

R.N Elliott wrote that its acceptable to use both logarithmic and arithmetic scale  in discovering  Elliott wave trend channels. This same theory could also apply to Fibonacci analysis. I’ve noted several times that when there’s a large percentage growth of a market or a stock to use growth rates when examining Fibonacci relationships. Growth comparisonsContinue reading “Fibonacci Resistance Points”

Within the last few weeks  followers of this site have messaged me asking. When will the crash come?  Why are the S&P 500 (SPX) and Nasdaq Composite (IXIC) still climbing? Who’s  buying stocks?   These are understandable questions since the US stock market has continued to climb in the face of enormous bearish evidence.  Large stockContinue reading “When Will the Stock Market Go Down?”

The 07/05/21 blog “The Next S&P 500 Resistance Level” noted that the next S&P 500 (SPX) resistance level could be at 4437.  This level was derived by comparing the growth of the SPX rally from March 2009 to April 2010 with the SPX rally since March 2020. There’s another resistance level calculated solely from theContinue reading “S&P 500 – Elliott Wave Count – 07-09-21”

I’m guessing to many, today’s opening micro crash in US stocks was a big surprise .  Those  observing the extremely bearish Nasdaq – Advance/Decline line and new 52 -week highs for the NYSE and Nasdaq Composite it could have been expected.  The SPX 5-minute chart courtesy of Trading View illustrates a possible short-term Elliott waveContinue reading “Explanation of a Micro – Crash”