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The hourly S&P 500 (SPX) chart courtesy of Trading View illustrates the Elliott wave subdivisions since the Important 10/30/20 bottom. Note the significant bearish divergence on the hourly RSI, it implies at least a short-term peak could be in place as of the late 02/12/21 rally. If there’s more upside it could be brief, perhapsContinue reading “Final Wave Up for US Stock Market?”

Today February 12, 2021 the S&P 500 (SPX) may have completed five – Primary waves up from the major bottom made in March 2009. The daily SPX chart courtesy of Trading View illustrates the prime – Elliott wave count.                                   Today’s high came late in the trading session, in what appears to a thrustContinue reading “S and P – 500 Prime and Alternate – Elliott Wave Counts – February 2021”

The Dow Jones Transportation Average (DJT) appears to have completed a five – wave  Elliott impulse pattern from its 03/23/20 bottom. The daily DJT chart courtesy of Trading View illustrates the movement. This is an update to the DJT chart shown in the 10/30/20 post “Dow Jones Transportation Average – An Important Bottom?”. That postContinue reading “Dow Jones Transportation Average – Major Top?”

Today 01/27/21 the S&P 500 (SPX)  broke below chart support made on 01/25/21 and 01/15/21. This is the first time since the rally began on 10/30/20 that the SPX has broken two support levels – powerful evidence that at least a minor decline has begun. The  SPX chart courtesy of Trading View illustrates the dailyContinue reading “US Stocks Downside Rollover”

The 10/11/20 post “Clearest Elliott Wave Road Map” examined the Consumer Staple- Exchange Traded Fund (XLP) as a guide for timing the broader US stock market.  XLP continues to have a clear Elliott Wave count.  The decline since the November peak has been slow and shallow, which is the signature of a corrective pattern inContinue reading “Consumer Staple Fund – XLP – Update”

The S&P 500 (SPX) appears to have completed an Elliott impulse wave up from the important 10/30/20 bottom at 3233.94.  If so, we could expect to see at least a retracement of the movement from 10/30/20 to 01/08/21. If this bull movement is a wave “one” the most likely retracement for wave “two” is aContinue reading “Top For US Stocks Could be in Place”

The following monthly Dow Jones Industrial Average (DJI) chart courtesy of Trading View  is an update to the monthly DJI chart illustrated in the 08/22/20 post “Forecast – Bull Market Termination Date – 2021” The time forecast is based upon the Fibonacci sequence which is ( 1, 1, 2, 3, 5, 8, 13, 21, 34,Continue reading “Long-Term Price and Time Targets”

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”

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?”