Category Archives: Elliott Wave

On 03/18/21 the Dow Jones Industrial Average made a new all-time high unconfirmed by the other two main US stock indices, S&P 500 (SPX) and Nasdaq Composite (IXIC).  I refer to this as a “rule of the majority signal” the market condition is revealed by the non-confirming indices. In this case a bearish signal.  Additionally,Continue reading “Stock Topping Process – Part Three”

My prior blog “Potential Lunar Cycle Turn” noted  that the US stock market could top within plus or minus two trading days of  the new moon made on Saturday 03/13/21. Today the S&P 500 (SPX) made a new all-time high unconfirmed by the other two main US stock indices (Dow Jones Industrial Average (DJI) andContinue reading “Stock Topping Process Continues”

On the 03/12/21 open of the S&P – 500 (SPX) trading session traders exited a 25% short position. The trade began on the SPX open 01/07/21 at 3764.71, the exit price was 3924.52 resulting in a loss  of 4.20% of the 25% position. This contributes a 1.05% loss (4.20 x.25 = 1.05) to the runningContinue reading “Revised S&P – 500 Elliott Wave Count – Part Two”

Today 03/11/21 the S&P – 500 (SPX) made a new all-time high which changes the Elliott wave count that had a possible Primary wave “5”  completed as of the SPX 02/16/21 high. The daily chart courtesy of Trading View illustrates the revised Elliott wave count. More details about this count and the intra day ElliottContinue reading “Revised S&P – 500 Daily Elliott Wave Count 03/11/21”

 Elliott wave theory shows  progress of the mass mind and can be charted on any time scale.  A  chart spanning decades can have the same basic form as a chart limited to a few hours.  Frequently intraday patterns can aid in clarifying a larger trend. The Nasdaq  100 (NDX) – 15 – minute chart courtesyContinue reading “Nasdaq 100 Intraday Chart”

My 01/30/21 blog “Dow Jones Transportation Average – Major Top?” speculated the Dow Jones Transportation Average (DJT) may have completed a five wave Elliott impulse pattern from the March 2020 bottom. As it turned out the DJT finished a correction on 01/29/21. The daily DJT chart courtesy of Trading View illustrates the subsequent upside action. Continue reading “Dow Jones Transportation Average – Update February 2021”

My 01/19/21 blog “Consumer Staples Fund – XLP Update” noted that this exchange traded fund symbol (XLP) had two Fibonacci support points at 63.34 and 63.56. The daily XLP chart courtesy of Trading View shows its current situation. On 02/26/21 XLP has gone slightly below the lower Fibonacci target and reached 63.28. However, the dailyContinue reading “Consumer Staples Fund – Update February 2021”

The hourly S&P 500 (SPX) chart courtesy of Trading View illustrates the Elliott wave subdivisions since the Important 10/30/20 bottom. Note the significant bearish divergence on the hourly RSI, it implies at least a short-term peak could be in place as of the late 02/12/21 rally. If there’s more upside it could be brief, perhapsContinue reading “Final Wave Up for US Stock Market?”

Today February 12, 2021 the S&P 500 (SPX) may have completed five – Primary waves up from the major bottom made in March 2009. The daily SPX chart courtesy of Trading View illustrates the prime – Elliott wave count.                                   Today’s high came late in the trading session, in what appears to a thrustContinue reading “S and P – 500 Prime and Alternate – Elliott Wave Counts – February 2021”

The Dow Jones Transportation Average (DJT) appears to have completed a five – wave  Elliott impulse pattern from its 03/23/20 bottom. The daily DJT chart courtesy of Trading View illustrates the movement. This is an update to the DJT chart shown in the 10/30/20 post “Dow Jones Transportation Average – An Important Bottom?”. That postContinue reading “Dow Jones Transportation Average – Major Top?”