Entering the Bearish Season

The US stock market is seasonally bullish from November into late April/early May. From 2009 to 2020 the S&P 500 (SPX) recorded five intermediate peaks in the late April/early May time zone.  The SPX 2021 high was on 05/07/21. The  Dow Jones Industrial Average  peak was 05/10/21. The subsequent smooth and steady decline appears toContinue reading “Entering the Bearish Season”

Clear Bearish Elliott Wave Pattern

The 05/12/21 blog “The First Downside Target For US Stocks” noted that the S&P 500 (SPX) decline from the 05/07/21 peak appeared to be an Elliott five-wave impulse pattern. The rally on 05/13/21 confirmed the impulse wave was complete. The 30-minute SPX chart courtesy of Trading View illustrates the intraday action. The 30-minute SPX chartContinue reading “Clear Bearish Elliott Wave Pattern”

S and P 500 – Detailed Elliott Wave Count 05-11-21

The 05/07/21 post  “The Bull Strikes Back” noted .  “If on 05/10/21 the bulls can’t push over 4238.04 watch S&P 500 (SPX) 4167.76. A  break below that short-term support made at 11:44 AM – ET 05/07/21 could have huge implications for market direction.”   The 4167.76 bottom was on 05/06/21 not 05/07/21 sorry for theContinue reading “S and P 500 – Detailed Elliott Wave Count 05-11-21”

S&P 500 Alternate Elliott Wave Count 04-17-21

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates an alternate wave count. My 04/11/21 blog “Target of Opportunity” illustrated an SPX  Elliott wave count from 03/23/20 to 04/09/21 ending at a supposed Intermediate wave (3).  This count is still valid however seasonal factors make this count less likely. “Sell in May andContinue reading “S&P 500 Alternate Elliott Wave Count 04-17-21”

The Most Reliable Elliott Wave Pattern

If you were to take a poll of Elliott Wave practitioners of what they thought was the most reliable Elliott pattern they would probably say Ending Diagonal Triangle (EDT). Because of their configuration and location within a larger Elliott wave pattern, EDT’s present an excellent risk/reward trading opportunity.  EDTs occur primarily in the fifth waveContinue reading “The Most Reliable Elliott Wave Pattern”

Stock Topping Process 03-29-21

Today 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. I call this a rule of the majority signal and could indicate a significant US stock market top. The daily SPX chart courtesy of Trading View illustrates a possibleContinue reading “Stock Topping Process 03-29-21”