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Since the S&P 500 (SPX) all-time high on 09/02/21 the decline has been choppy, which is  characteristic of Elliott wave corrective patterns.  However, part of the drop could be a complex motive wave. The SPX 30 – minute chart courtesy of Trading View illustrates the short-term Elliott wave count. The supposed Minuette wave ( iContinue reading “Detailed Short-Term S&P 500 Elliott Wave Count 9-17-21”

There are always alternate Elliott wave counts.  There’s no predestination in the markets and traders need to be aware the various paths a market could take.  The prime wave count for the S&P 500 (SPX)  from the 03/23/20 bottom has been that an Elliott wave series of “one’s” and “two’s” up formed between March toContinue reading “Long -Term S&P 500 Alternate Elliott Wave Count 09-12-21”

Over the last few months there have been  breaks below support levels with no downside follow through.  Ravenous buy the dip bulls quicky rushed in creating only  marginal break throughs. Friday 09/10/21 the S&P 500 (SPX)  broke below support noted in the prior post “Important S&P 500 Support”.   Monday 09/13/21 could be an importantContinue reading ”        Important S&P 500 Support Broken”

On 09/07/21 the Nasdaq Composite (IXIC) made a new all-time high unconfirmed by the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI).  I refer to this as a “Rule of the majority” signal. When one of the three main US stock indices makes a new high/low unconfirmed by the other two main indices,Continue reading “New Moon Bearish Signal 09-07-21”

The S&P 500 (SPX) 15-minute chart courtesy of Trading View illustrates a probable short-term Elliott wave count. The action since the SPX 08/30/21 high has been a choppy sideways move and appears to be a completed Elliott wave – Horizontal Triangle.  After completion of this structure there’s usually a sharp thrust in the direction ofContinue reading “Short-Term S&P 500 Elliott Wave Count 09-02-21”

The S&P 500 (SPX) rally on 08/27/21 pushed beyond the leeway of major Fibonacci resistance at SPX 4437.63. This potential resistance level was first discussed in the 07/05/21 blog “The Next S&P 500 Resistance Level”.  This Fibonacci point was derived by taking the growth rate of the March 2009 to April 2010 rally – presumedContinue reading “S&P 500 – Alternate Elliott Wave Count 08-27-21”

Today the S&P 500 (SPX) and Dow Jones Industrial Average (DJI) made new all-time highs. The move up since 07/27/21 has been slow and choppy. What’s particularly interesting is the action after the important US Employment report on 08/06/21,which was bullish.  The SPX and DJI made new highs just after the open of their sessionsContinue reading “Slow Rising Market”

A  follower to this blog asked if there was a Fibonacci resistance level for the Nasdaq Composite.  The 07/05/21 blog “The next S and P 500 Resistance Level’’ measured the S&P 500 (SPX) growth from March 2009 to April 2010 with the SPX rally from March 2020.  This examination showed that the rally from MarchContinue reading “Nasdaq Composite Fibonacci Points”

Today 08/02/21 the Dow Jones Industrial Average (DJI) made a new all-time high unconfirmed by the other two main US stock indices – S&P 500 (SPX) and Nasdaq Composite. I refer to this situation as a “rule of the majority signal” in this case a bearish signal, the truth is with the two non –Continue reading “Could August 2, 2021, be an Important Stock Market Top?”

R.N Elliott wrote that its acceptable to use both logarithmic and arithmetic scale  in discovering  Elliott wave trend channels. This same theory could also apply to Fibonacci analysis. I’ve noted several times that when there’s a large percentage growth of a market or a stock to use growth rates when examining Fibonacci relationships. Growth comparisonsContinue reading “Fibonacci Resistance Points”