Category Archives: Elliott Wave

Today 01/27/21 the S&P 500 (SPX)  broke below chart support made on 01/25/21 and 01/15/21. This is the first time since the rally began on 10/30/20 that the SPX has broken two support levels – powerful evidence that at least a minor decline has begun. The  SPX chart courtesy of Trading View illustrates the dailyContinue reading “US Stocks Downside Rollover”

The 10/11/20 post “Clearest Elliott Wave Road Map” examined the Consumer Staple- Exchange Traded Fund (XLP) as a guide for timing the broader US stock market.  XLP continues to have a clear Elliott Wave count.  The decline since the November peak has been slow and shallow, which is the signature of a corrective pattern inContinue reading “Consumer Staple Fund – XLP – Update”

The S&P 500 (SPX) appears to have completed an Elliott impulse wave up from the important 10/30/20 bottom at 3233.94.  If so, we could expect to see at least a retracement of the movement from 10/30/20 to 01/08/21. If this bull movement is a wave “one” the most likely retracement for wave “two” is aContinue reading “Top For US Stocks Could be in Place”

The following monthly Dow Jones Industrial Average (DJI) chart courtesy of Trading View  is an update to the monthly DJI chart illustrated in the 08/22/20 post “Forecast – Bull Market Termination Date – 2021” The time forecast is based upon the Fibonacci sequence which is ( 1, 1, 2, 3, 5, 8, 13, 21, 34,Continue reading “Long-Term Price and Time Targets”

The S&P 500 (SPX) rally from the 03/23/20 bottom to 12/11/20 does not appear to be a developing Elliott five-wave Impulse pattern, nor does it appear to be an Elliott Wave – Ending Diagonal Triangle. The most likely current wave count is that an Elliott Wave – Horizontal Triangle may have formed  from 02/19/20 toContinue reading “Detailed Long-Term S&P 500 Elliott Wave Count”

Recent posts about Zoom Video Communications Inc. (ZM) noted that because of ZM’s recent decline while the S&P 500 (SPX) rallied, increased the risk of buying ZM.  An abundance of evidence is needed to take a trading position and this stock still lacks enough evidence to make a long recommendation. ZM does continue to beContinue reading “Could Zoom Still Make a New All-Time High?”

On 11/09/20 the S&P 500 (SPX) may have completed an Elliott five wave extended impulse pattern from the bottom made on 10/30/20. The hourly SPX chart courtesy of Trading View illustrates the action from the 10/30/20 bottom. The tricky part of the wave count is the supposed Minuette wave (v).  This could be a TruncatedContinue reading “S&P 500 Could be in Short – Term Decline”

Today 10/30/20 the S&P 500 (SPX) made a new low for the decline from its secondary high made on 10/12/20. The Dow Jones Transportation Average (DJT) which made an all-time high on 10/20/20 did not make a new decline low and held above its 10/29/20 bottom.  This stronger performance relative to the SPX hints theContinue reading “Dow Jones Transportation Average – An Important Bottom?”

The previous post examined the weekly Elliott Wave count of Zoom Video Communications Inc.  stock symbol (ZM).  After a stock has increased more than seven times in ten months some analysists could state the stock had reached its peak.  Perhaps this is true for ZM, however there could be one more buying opportunity. The hourlyContinue reading “Profiting From Zoom”

The prior post focused on Exchange Traded Fund – XLP  as a guide to help with the Elliott Wave count for the US stock market.  The following weekly chart courtesy of Trading View shows an individual stock which so far has  a textbook Elliott Wave pattern. Sometimes small cap stocks involved in speculative buying maniasContinue reading “Additional Elliott Wave Confirmation”