The manic rally from the mini crash bottom made on 08/05/24 could terminate on 08/23/24. The 08/11/24 blog “U.S. Stock Market Forecast – Late 2024” speculated that post 08/05/24 rally could be choppy and peak sometime in mid – September 2024. What’s happened so far has been a very sharp rally that could end inContinue reading “Buy the Rumor – Sell the News – 8/22/24”
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Relentless Stock Rally – 08/21/24
The near vertical rally of the S&P 500 (SPX) continues. The one – hour SPX chart courtesy of Trading View updates the action. The only significant change on an hourly basis is the RSI significant bearish divergence AT THE 08/21/24 peak. The big problem from an Elliott wave perspective are the very shallow declines,Continue reading “Relentless Stock Rally – 08/21/24”
Approaching Price and Time Zones – 08/16/24
On 08/16/24 the S&P 500 (SPX) came within 4.19 points of completing a presumed Inverse Expanding Flat correction. This pattern could be complete in the next three trading days. The one – hour SPX chart courtesy of Trading View updates the action from the all-time high made on 07/16/24. The 08/15/24 blog “S&P 500 –Continue reading “Approaching Price and Time Zones – 08/16/24”
Super Bearish Message from Gold and Silver
The 07/21/214 blog “Bearish Message from Gold and Silver” noted considerable evidence that both precious metals could soon begin a multi-week decline. Since then, Gold (XAUUSD) has exceeded its mid – July 2024 peak, while Silver (XAGUSD) continues to lag on the upside. A severe downward shift for both metals could be imminent. The weeklyContinue reading “Super Bearish Message from Gold and Silver”
S&P 500 – Short-Term Elliott Wave Count – 08/15/24
The S&P 500 is pushing through chart resistance in the low 5,500 area and short -term momentum is still bullish. Short – Term Elliott wave analysis could provide a road map to near -term action. The one- hour SPX chart courtesy of Trading View updates short-term momentum. On 08/15/24 the one – hour RSI pushedContinue reading “S&P 500 – Short-Term Elliott Wave Count – 08/15/24”
U.S. 30 – Year Treasury Yield- Fibonacci Time and Price Analysis.
Long- and short-term Fibonacci time and price relationships imply an important U.S. 30 – Year Treasury Yield (TYX) bottom could be made late August/early September 2024. The weekly TYX chart courtesy of Trading View examines the long-term picture. One of the main aspects of Elliott wave analysis is that corrections of movements are usuallyContinue reading “U.S. 30 – Year Treasury Yield- Fibonacci Time and Price Analysis.”
U.S. 30 – Year Treasury Yield – Elliott Wave Count – 08/02/24
Yield/rate for U.S. 30 – Year Treasury bonds could make an important bottom late August to early September 2024. The 02/01/24 blog “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24” illustrated that a short-term rally of U.S. 30 – year Treasury yield (TYX) could be complete, and the next phase downContinue reading “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 08/02/24”
Nasdaq 100 – Elliott Wave Count – 07/31/24
The Nasdaq 100 (NDX) is at a crossroads. The action on 08/01/24 could determine the near – term course for U.S . stocks. The daily NDX chart courtesy of Trading View shows the first alternate Elliott wave count. The NDX from its 07/10/24 all-time high has a very clear Elliott wave count. The general formContinue reading “Nasdaq 100 – Elliott Wave Count – 07/31/24”
Short- Term S&P 500 – Elliott Wave Analysis – 7/24/24
The easiest way to understand Elliott wave theory is to view markets or stocks in segments. Currently the most important S&P 500 (SPX) segment is the 04/19/24 to 07/16/24 rally. The consequences of the recent decline could provide directional clues for the remainder of 2024. The daily SPX chart courtesy of Trading View illustrates theContinue reading “Short- Term S&P 500 – Elliott Wave Analysis – 7/24/24”
Russell 2000 – Long -Term Elliott Wave Count – 07/12/24.
The recent Russell 2000 (RUT) upsurge could soon end. The weekly RUT chart courtesy of Trading View illustrates the long-term Elliott wave count. The best Elliott wave count for the November 2021 to October 2023 decline is a Single Zigzag corrective pattern. Note that the mid portion of the bear market labeled Intermediate wave (B)Continue reading “Russell 2000 – Long -Term Elliott Wave Count – 07/12/24.”
Four Dimension Trading 