Category Archives: Elliott Wave

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”

The 04/26/21 blog “Struggling to Rally” speculated that the Consumers Staples Fund (XLP) had completed an Elliott five – wave impulse pattern from the 03/23/20 bottom.  Subsequently XLP moved to a new all-time high and peaked on  06/04/21. The daily chart courtesy of Trading View illustrates the updated Elliott wave count. Usually within motive wavesContinue reading “Consumer Staples Fund – Update July 2021”

The 06/16/21 blog  Major “S&P 500 Price and Time Targets – 06-16-21” noted  that the S&P 500 (SPX) had major Fibonacci resistance at 4262 and 4274. Today 06/24/21 the SPX reached 4271 within the area of the two Fibonacci points. On the bullish side of the coin VIX  made a new low and is potentiallyContinue reading “Rally into Major Fibonacci Resistance”

The 06/15/21 blog “ Revised daily S&P 500 Elliott Wave Count – 06/15/21 speculated that an Elliott wave – Ending Diagonal Triangle (EDT) was under construction from the S&P 500 (SPX)  05/12/21 bottom.  Today 06/18/21 the SPX went below what counts as the EDT -Minor wave “2”. The post 06/15/21 decline was a supposed waveContinue reading “Ending Diagonal Triangle is Probably Complete”