A review of the three main U.S. stock indices; Dow Jones Industrial Average (DJI), S&P 500 (SPX), and Nasdaq Composite (IXIC) reveals shockingly bearish evidence. The 15 – minute DJI, SPX, and IXIC chart courtesy of Trading View illustrates their relationship. Guess which of these indexes does not include Nvidia Corporation (NVDA)? If you pickedContinue reading “Dow Jones Industrial Average – Bearish Warning”
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Nvidia Nears Major Resistance at 1,157
The 03/16/24 blog “Nvidia – Long – Term Elliott Wave Count” illustrated that Nvidia Corporation (NVDA) was in a developing extended Elliott Impulse wave from its November 2008 bottom. Additionally, NVDA had major Fibonacci resistance at 1,157.70. On 05/24/24 NVDA ended the main trading session at 1,064.69. The monthly NVDA chart courtesy of TradingContinue reading “Nvidia Nears Major Resistance at 1,157”
A One – Stock Market?
After the main U.S. stock session on 05/22/24 Nvidia Corporation (NVDA) announced a great earnings report and a ten for one stock split. The news triggered a large rally in U.S. overnight stock futures. When the main stock session opened on 05/23/24 the three main U.S. stock indices and the Russell 2000 were up fromContinue reading ” A One – Stock Market?”
Short-Term Action of U.S. Stock Indices – 05/17/24.
The 30 – minute S&P 500 (SPX) chart courtesy of Trading View updates its Eliott wave count. There’s a good chance the SPX completed Minor wave “4” of the extended Impulse wave that began on 04/19/24. The bottom on 05/17/24 was very close to a .382 Fibonacci retracement of the presumed Minute wave “v” ofContinue reading “Short-Term Action of U.S. Stock Indices – 05/17/24.”
Updated Long – Term S&P 500 – Elliott Wave Count – 05/16/24.
The S&P 500 (SPX) has entered the territory of potential major Fibonacci resistance. For several months this website has speculated that the SPX from its January 2022 peak could be forming an Elliott wave Expanding Flat corrective pattern. The following illustration is an Expanding Flat in a bull market. Expanding Flats are composed of threeContinue reading “Updated Long – Term S&P 500 – Elliott Wave Count – 05/16/24.”
New All-Time Highs – 05/15/24
Three factors imply the rally in U.S. stocks since the 04/19/24 bottom could continue for at least a few days. On 05/15/24 all three main U.S stock indices, S&P 500 (SPX), Dow Jones Industrial Average and Nasdaq Composite made new all-time highs. Today’s move invalidated a bearish “Rule of the Majority” signal made on 03/28/24Continue reading “New All-Time Highs – 05/15/24”
Fibonacci Resistance Break
The prior two blogs noted both the S&P 500 (SPX) and Russell 2000 (RUT) may have found resistance just below a Fibonacci .618 retrace of their respective April declines. Subsequently both indices have moved above the resistance zones. The door is open for both indices to make new 2024 highs. The daily RUT chart courtesyContinue reading ” Fibonacci Resistance Break”
S&P 500 – Update – 05/03/24
The 04/21/24 blog ”Potential S&P 500 Bottom – Early May 2024” noted a Fibonacci time cycle turn on 05/03/24. It was presumed that the S&P 500 (SPX) which began to decline in early April would continue dropping into early May. Subsequently the 04/27/24 blog noted that the size of the SPX rally since 04/19/24 madeContinue reading “S&P 500 – Update – 05/03/24”
Russell 2000 – Update – 05/03/24
May, 6 2024 could be an important day for the Russell 2000 (RUT) and the U.S. stock market. A strong move up could open the door for the RUT and other U.S. stock indices to make new 2024 highs. A significant move down implies a resumption of the decline that began in late March 2024. Continue reading ” Russell 2000 – Update – 05/03/24″
Russell 2000 – Clear Elliott Wave Pattern
The Russell 2000 (RUT) Elliott wave count from 03/28/24 to 04/24/24 implies more downside action. The one – hour RUT chart courtesy of Trading View shows what’s been happening. The RUT decline from 03/28/24 to 04/19/24 was an extended Elliott Impulse wave. The subsequent rally was a three – wave correction topping almost exactly atContinue reading “Russell 2000 – Clear Elliott Wave Pattern”
Four Dimension Trading 