On 02/13/24 the U.S. stock market had a large steep decline. Subsequently the three main U.S. stock indices have rallied with the S&P 500 (SPX) being the strongest, on 02/16/24 it was only 9.69 points from its all-time high. The SPX ended the session down, just above important intraday support. The 15 – minute SPXContinue reading “Intraday Examination of the S&P 500”
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Apple Inc. Downside Rollover?
The most bearish of the “Magnificent Seven” stocks relative to the S&P 500 (SPX) is Tesla Inc. (TSLA). The next most bearish stock is Apple Inc (AAPL). The action of AAPL from its December 2023 top suggests it could be on the verge of a sharp decline. The weekly AAPL chart courtesy of Trading ViewContinue reading “Apple Inc. Downside Rollover?”
Russell 2000 – Detailed Elliott Wave Count
The Russell 2000 – small cap stock index (RUT) has lagged the broader U.S. stock market since late 2021. An examination of RUT – Elliott wave count indicates it could be on the precipice of a severe decline. The weekly RUT and S&P 500 (SPX) chart courtesy of Trading View illustrates their ongoing divergence. TheContinue reading “Russell 2000 – Detailed Elliott Wave Count”
S&P 500 Long – Term Downside Projection
Today February 8, 2024 the S&P 500 (SPX) reached round number resistance at 5,000. On February 9, 1966 the Dow Jones Industrial Average hit round number resistance at 1,000 and declined 26% in eight months. Something similar could happen to the U.S. stock market in 2024. The weekly SPX chart courtesy of Trading View showsContinue reading “S&P 500 Long – Term Downside Projection”
The Big Picture for U.S. Stocks – February 2024
As stock bull markets progress, investor optimism grows and usually peaks near market tops. Correspondingly momentum wanes as the stock market climbs. Stocks discount the future, and the stocks of smaller/weaker companies are the first to falter in anticipation of economic weakness. The higher a stock index climbs the number of stocks participating in theContinue reading “The Big Picture for U.S. Stocks – February 2024”
U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24
The 12/28/23 blog “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 12/28/23” noted. “An intermediate bottom for 30 – year U.S. Treasury Yields could be in place”. A bottom for the 30- year U.S Treasury Yield (TYX) was in place and the subsequent rally appears to be complete. The next wave downContinue reading “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 02/01/24”
U.S. Stock Market Momentum Update – 01/19/24
On 01/19/23 the S&P 500 (SPX) surged up 1.23% and made a new all-time high. On the surface it appears this could be in the start part of another manic rally. An examination of U.S. stock market momentum suggests something else. The daily S&P 500 – Advanced/Decline line ($SPXADP) chart courtesy of StockCharts.com updates itsContinue reading “U.S. Stock Market Momentum Update – 01/19/24”
S&P 500 – Short-Term Elliott Wave Count – 01/12/24
There are always alternate Elliott wave counts. To determine the most likely path requires analysis of market momentum and sentiment. Recent momentum readings continue to suggest a short-term decline to at least the S&P 500 (SPX) 4,550 area. Recent blogs on this website have illustrated the bearish momentum messages from the S&P 500 – BullishContinue reading “S&P 500 – Short-Term Elliott Wave Count – 01/12/24”
Bitcoin Drops Fast From Important Resistance
On 01/11/24 – Bitcoin in U.S. dollars (BTCUSD) reached important Fibonacci resistance and then rapidly declined. Several factors indicate this could just be the start of at least a multi-month bear phase. The weekly BTCUSD chart courtesy of Trading View illustrates the big picture. The BTCUSD all-time high was in November 2021 it then fellContinue reading “Bitcoin Drops Fast From Important Resistance”
Intraday Elliott Wave Count for the S&P 500 – 01/05/24
The prior blog noted the S&P 500 (SPX) could find support near the 4,550 area. The intraday SPX – Elliott intraday wave count and momentum indicators suggest a brief bounce could develop. The SPX – 15 – minute chart courtesy of Trading View zooms in on the Elliott wave count from the 12/28/23 high. NoteContinue reading “Intraday Elliott Wave Count for the S&P 500 – 01/05/24”
Four Dimension Trading 