Detailed Long-Term S&P 500 Elliott Wave Count

The S&P 500 (SPX) rally from the 03/23/20 bottom to 12/11/20 does not appear to be a developing Elliott five-wave Impulse pattern, nor does it appear to be an Elliott Wave – Ending Diagonal Triangle. The most likely current wave count is that an Elliott Wave – Horizontal Triangle may have formed  from 02/19/20 toContinue reading “Detailed Long-Term S&P 500 Elliott Wave Count”

Could Zoom Still Make a New All-Time High?

Recent posts about Zoom Video Communications Inc. (ZM) noted that because of ZM’s recent decline while the S&P 500 (SPX) rallied, increased the risk of buying ZM.  An abundance of evidence is needed to take a trading position and this stock still lacks enough evidence to make a long recommendation. ZM does continue to beContinue reading “Could Zoom Still Make a New All-Time High?”

Qualcomm in 2000 and Zoom in 2020

This is an educational post to explain stock market momentum. The 11/17/20 blog “Zoom Update – Part Two” noted that Zoom Video Communications Inc. (ZM) could be a signal for a looming bear market similar to Qualcomm Inc. (QCOM) in 2000. The daily QCOM and S&P 500 (SPX) chart courtesy of Trading View illustrates whatContinue reading “Qualcomm in 2000 and Zoom in 2020”

S&P 500 Could be in Short – Term Decline

On 11/09/20 the S&P 500 (SPX) may have completed an Elliott five wave extended impulse pattern from the bottom made on 10/30/20. The hourly SPX chart courtesy of Trading View illustrates the action from the 10/30/20 bottom. The tricky part of the wave count is the supposed Minuette wave (v).  This could be a TruncatedContinue reading “S&P 500 Could be in Short – Term Decline”

Dow Jones Transportation Average – An Important Bottom?

Today 10/30/20 the S&P 500 (SPX) made a new low for the decline from its secondary high made on 10/12/20. The Dow Jones Transportation Average (DJT) which made an all-time high on 10/20/20 did not make a new decline low and held above its 10/29/20 bottom.  This stronger performance relative to the SPX hints theContinue reading “Dow Jones Transportation Average – An Important Bottom?”

Additional Elliott Wave Confirmation

The prior post focused on Exchange Traded Fund – XLP  as a guide to help with the Elliott Wave count for the US stock market.  The following weekly chart courtesy of Trading View shows an individual stock which so far has  a textbook Elliott Wave pattern. Sometimes small cap stocks involved in speculative buying maniasContinue reading “Additional Elliott Wave Confirmation”

The Clearest Elliott Wave Roadmap

Elliott Wave analysis provides a roadmap of where a market or a stock could potentially be in its cycle.  When studying the stock market, the S&P 500 (SPX) because of its large capitalization and following usually has the clearest Elliott Wave patterns.  Analysis is enhanced by comparing the wave counts of one stock index vs.Continue reading “The Clearest Elliott Wave Roadmap”

Important S&P 500 Bottom on 10/7/20?

Sometimes in Elliott Wave analysis its difficult to differentiate wave degree, this happens when one movement is smaller/larger than waves of the same degree.  This appears to be the case soon after the S&P 500 (SPX) bottom of 9/24/20.  The first rally and decline could be the first two waves of a five wave ElliottContinue reading “Important S&P 500 Bottom on 10/7/20?”

Market Situation After Unexpected Event

Our thoughts and prayers go out to US President Donald Trump and First Lady Melania Trump for a rapid recovery from the Coronavirus. This unexpected event trigger a panic in the financial markets and altered the near-term direction of the US stock market.  My previous post “S&P 500 Continues to Rise” gave a recommendation toContinue reading “Market Situation After Unexpected Event”