Momentum and Fibonacci evidence indicates U.S stocks may have made at least an intermediate top. After the 12/20/23 micro crash in U.S. stocks it appeared that an intermediate peak could be in place. Incredibly all three of the main U.S. stock indices continued to rally and moved above their respective pre micro crash highs. TheContinue reading “Amazing Fibonacci Calculations – December 2023”
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U.S. 30 – Year Treasury Yield – Elliott Wave Count – 12/28/23
An intermediate bottom for 30 – year U.S. Treasury Yields could be in place. The weekly CBOE 30 YR Treasury Bond Yield (TYX) chart courtesy of Trading View illustrates the long- term Elliott wave count. The TYX move up from March 2020 to October 2023 appears to be a completed Elliott wave – Impulse pattern. Continue reading “U.S. 30 – Year Treasury Yield – Elliott Wave Count – 12/28/23”
Probable Intermediate Top – 12/20/23
Today 12/20/23 the S&P 500 (SPX) had its fastest and deepest decline since the U.S. stock buying mania began on 10/27/23. When something different happens it usually means a developing trend change. In this case an intermediate decline that could continue for several days or a few weeks. The 3 -hour SPX chart courtesy ofContinue reading “Probable Intermediate Top – 12/20/23”
Projection for Dow Jones Industrial Average – Significant Top
The Dow Jones Industrial Average (DJI) long – term Elliott wave count is similar to the S&P 500 (SPX). Both indices could be in Elliott wave – Expanding Flats that began in January 2022. Two Fibonacci price projections indicate areas where the DJI could make an important peak. The monthly DJI chart courtesy of TradingContinue reading “Projection for Dow Jones Industrial Average – Significant Top”
Projection for S&P 500 – Significant Top
If the S&P 500 (SPX) can make a new all-time high it could herald a new bear market. The 12/14//23 blog noted that the Dow Jones Industrial Average could be forming a Primary degree wave “B” of an Elliott wave – Expanding Flat that began in January 2022. The SPX could be in the processContinue reading “Projection for S&P 500 – Significant Top”
Dow Jones Industrial Average – Long -Term Elliott Wave Count December 2023
On 12/13/23 the Dow Jones Industrial Average (DJI) made a new all-time high. The form of the DJI rally from the October 2022 bottom was choppy, suggesting a corrective pattern. How can the DJI make a new all-time high and be in a correction? In Elliott wave there are two patterns that correct anContinue reading “Dow Jones Industrial Average – Long -Term Elliott Wave Count December 2023”
Treasury Yields Near a Bottom – 12/07/23.
For several months there’s been an inverse relationship between U.S. stocks and U.S. government debt yields/rates. The recent manic U.S. stock rally since late October corresponds with the U.S. 30 – year Treasury yield (TYX) decline. Near – term the TYX appears it could be making a bottom. The daily TYX chart courtesy of TradingContinue reading “Treasury Yields Near a Bottom – 12/07/23.”
Possible S&P 500 Intermediate Top Made on 12/01/23.
The 11/26/23 “Time Cycle Turn late November 2023” examined a potential S&P 500 – Fibonacci time cycle based on prior peaks and noted. “The week beginning 02/18/20 to the week beginning 01/03/22 is 98 – weeks. Projecting 98 – weeks from 01/03/23 targets the week beginning 11/20/23. On this time scale a leeway of oneContinue reading “Possible S&P 500 Intermediate Top Made on 12/01/23.”
S&P 500 Elliott Wave Count 11-30-23.
The 11/29/23 blog illustrated the S&P 500 (SPX) appeared have begun an Elliott wave – Ending Diagonal Triangle that began on 11/28/23 at 4,540.51. Today on 11/30/23 the SPX broke below 4,540.51 invalidating the Ending Diagonal Triangle pattern. The SPX move below 4,540.51 was marginal and appears to have completed an Elliott wave corrective pattern.Continue reading “S&P 500 Elliott Wave Count 11-30-23.”
S&P 500 in Terminal Wave Up?
At the open of the 11/29/23 session the S&P 500 (SPX) made a new post 10/27/23 rally high. After 15 minutes the rally was exhausted, and the SPX trended down for the balance of the session. Could this be the start of a significant decline? Perhaps, however the NYSE advance/decline line was bullish, with 59%Continue reading “S&P 500 in Terminal Wave Up?”
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