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”
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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”
The Final Wave Up?
The S&P 500 (SPX) could be in the last part of a rally that began in October 2022. The 02/29/24 blog illustrated that an Elliott wave – Horizontal Triangle could be developing. Also noted – a low probability the Horizontal Triangle could already be complete. The 15 – minute SPX chart courtesy of Trading ViewContinue reading “The Final Wave Up?”
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”
Could February 27, 2024 be an S&P 500 Turning Point?
The S&P 500 (SPX) Elliott wave pattern suggests a major Fibonacci resistance point near 5,131 could be hit on 02/27/24. The two – hour SPX chart courtesy of Trading View illustrates the Elliott pattern from the 10/27/23 bottom. Analyzing Elliott wave patterns is like putting together a Jigsaw puzzle. Discovering the location of one pieceContinue reading “Could February 27, 2024 be an S&P 500 Turning Point?”
U.S. Stock Market Mania – February 2024
Since October 27, 2023 the S&P 500 (SPX) has rallied more than 23% with only one 2.5% correction. Today the SPX gapped up 2.11% the biggest one-day gain in four months! The weekly SPX chart courtesy of Trading View shows the long-term Elliott wave count since January 2022. Several blogs on this website have illustratedContinue reading “U.S. Stock Market Mania – February 2024”
Bear Market Rally Top on 02/22/24?
The S&P 500 (SPX) – intraday Elliott wave patterns suggests a bear market rally peak could occur early in the main session 02/22/24. The 15-minute SPX chart courtesy of Trading View illustrates the action after the 02/12/24 top. This updates the SPX chart illustrated in the 02/17/24 blog “Intraday Examination of the S&P 500” whichContinue reading ” Bear Market Rally Top on 02/22/24?”
Bearish Message From Copper
Copper is an industrial metal, and its price action can be a broad gauge for the economy. Copper tends to decline in periods of economic weakness, rising in economic recovery. The action of Copper vs. the S&P 500 (SPX) since early 2023 suggests that the U.S. economy and stock market could soon be declining. TheContinue reading “Bearish Message From Copper”
Intraday Examination of the S&P 500
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”
Four Dimension Trading 