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Thrusting Towards Resistance

 In two or three trading days the S&P 500 (SPX) could  reach important resistance. This websites 03/18/24 blog noted. “It’s possible the presumed Horizontal Triangle could be complete at the 03/18/24 low.  More likely the SPX could trend down until sometime before the U.S. FOMC announcement due 2:00 PM – EDT on 03/20/24.” Also illustratedContinue reading “Thrusting Towards Resistance”

S&P 500 – Intraday Elliott Wave Count – 03/18/24

This websites prior blog noted that the S&P 500 (SPX) could break below the 03/11/24 low and bottom in the 5,069 to 5,081 area.  Also noted was that an Elliott wave – Horizontal Triangle was an alternate wave count.  Today’s opening rally has made the Horizontal Triangle the prime wave count. The 30 – minuteContinue reading “S&P 500 – Intraday Elliott Wave Count – 03/18/24”

Short- Term S&P 500 – Elliott Wave Count – 03/15/24

The 03/13/24 blog “S&P 500 – Elliott Wave Pattern From October 2023”  illustrated that the S&P 500 (SPX) may have completed a Minor wave “4” decline on 03/11/24.   Subsequent action suggests Minor wave “4” could still be developing. The 30-minute SPX chart courtesy of Trading View illustrates the action since late 2023. Within five –Continue reading “Short- Term S&P 500 – Elliott Wave Count – 03/15/24”

Nvidia – Long -Term Elliott Wave Count

In the current cycle  Nvidia Corporation  (NVDA) is probably the king of all U.S. stocks.  Long -term Elliott wave analysis suggests NVDA could soon begin a multi – month decline.  The monthly NVDA chart courtesy of Trading View illustrates its progress from the November 2008 bottom. NVDA has formed an extended Elliott wave Impulse pattern.  Continue reading “Nvidia – Long -Term Elliott Wave Count”

Nvidia Corporation and S&P 500 Connection

Since late October 2023 both Nvidia Corporation (NVDA) and the S&P 500 (SPX) have traded closely together.  Their relationship could provide evidence for a major U.S. stock market top. The daily NVDA and SPX chart courtesy of Trading View illustrates their relationship. Since late October 2023 NVDA and SPX have made turns within about tradingContinue reading “Nvidia Corporation and S&P 500 Connection”

S&P 500 – Elliott Wave Pattern From October 2023

The  S&P 500 (SPX) could find resistance in the 5,250 area. The SPX – 3- hour chart courtesy of Trading View illustrates the Elliott wave count from the 10/27/23 bottom. The SPX rally from 10/27/23 has the smooth and steady look of a five – wave Elliott Impulse pattern.  The bottom made on 03/11/24 appearsContinue reading “S&P 500 – Elliott Wave Pattern From October 2023”

Russell 2000 –  Elliott Wave Count

On 03/04/24 the S&P 500 made an all-time high unconfirmed by the other two main U.S. stock indices, Dow Jones Industrial Average and the Nasdaq Composite.  Perhaps this bearish divergence signaled a major top for the U.S. stock market.  If not the Russell 2000 (RUT) small cap stock index could soon indicate a significant topContinue reading “Russell 2000 –  Elliott Wave Count”

S&P 500 Intraday Elliott Wave Count – 02/29/24

The 15 – minute S&P 500 (SPX) chart courtesy of Trading View updates the action. The 02/27//23 blog illustrated that Minute wave “iv” may have bottomed at the SPX 02/27/24 low.   This could still be the correct wave count, however the choppy nature of the rally off that bottoms suggests something else could be developing.Continue reading “S&P 500 Intraday Elliott Wave Count – 02/29/24”

S&P 500 Intraday Elliott Wave Count – 02/27/24

The decline from the S&P 500 (SPX) top at 5,111.06 may have ended today 02/27/24. The 15 – minute SPX chart courtesy of Trading View updates the action. The 02/24/24 blog illustrated that the presumed Minute “iv” correction after the SPX 02/23/24 top could terminate on 02/26/24 at or near a Fibonacci .236 retracement ofContinue reading “S&P 500 Intraday Elliott Wave Count – 02/27/24”