Today 12/15/22 the S&P 500 (SPX) broke below an important bottom made on 11/17/22 at 3,906.54. Additionally, the decline from 4,100 appears to be a developing Elliott Impulse wave which implies the primary trend may now be bearish. The daily SPX chart courtesy of Trading View illustrates the intermediate – term view. The SPX brokeContinue reading “The Bear is Back”
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NYSE Composite – Update – 12/09/22
The previous blog noted that hourly momentum of the NYSE Composite (NYA) was bullish. However, on 12/09/22 the bears were able to overpower the bulls. The hourly chart courtesy of Trading View shows the turn of the tide. The 12/08/22 blog illustrated that NYA important resistance was at 15,452.76 on 12/09/22 the NYA failed toContinue reading ” NYSE Composite – Update – 12/09/22″
Bull Market Revival
On 12/07/22 it appeared that US stocks could continue to decline. Evidence on 12/08/22 from the price and momentum dimensions imply that the wounded bull market could be recovering. To discover the best Elliott wave count, examine several stock market indices, sector ETF’s and sometimes individual stocks. The prior blog noted that the S&P 500Continue reading “Bull Market Revival”
Nasdaq Composite – Elliott Wave Count
Both the S&P 500 and the Dow Jones Industrial Average 2022 bear moves from their respective all-time highs have the look of Elliott wave corrective patterns. The Nasdaq Composite (IXIC) and the Nasdaq 100 (NDQ) declines from November 2021 to October 2022 appear to be Elliott wave motive patterns. In particular extended Impulse waves. IfContinue reading “Nasdaq Composite – Elliott Wave Count”
Elliott – Motive and Corrective Waves
Elliott wave theory has two basic modes – Motive waves which move with the primary trend and Corrective waves which are corrections to the primary trend. There are three variations of Motive waves and ten variations of Corrective waves. This blog can serve as an aid to differentiating between Motive and Corrective patterns even withoutContinue reading ” Elliott – Motive and Corrective Waves”
S&P 500 – Short – Term Elliott Wave Forecast – 11/18/22
After powerful market moves either up or down the retracements are usually shallow. The crowd recognizes the main trend and quickly use pullbacks to participate in the trend. Elliott wave – Horizontal Triangles frequently appear in shallow corrections and could be developing in the S&P 500 (SPX). Elliott wave – Horizontal Triangles are corrective patternsContinue reading “S&P 500 – Short – Term Elliott Wave Forecast – 11/18/22“
Price Forecast for US Stock Market Top
Since 10/13/22 the Dow Jones Industrial Average (DJI) has been the most bullish of the three main US stock indices. In only 21 -trading days the DJI has retraced 62.1% of a nine-month decline. The Golden Fibonacci ratio of .618 or 61.8% is frequently a support/resistance level. With a nearly precise hit of an importantContinue reading “Price Forecast for US Stock Market Top”
S&P 500 – Short -Term Elliott Wave Forecast – 11/11/22
This blog is an update to the S&P 500 (SPX) Elliott wave count posted on 11/09/22. The 30 – minute SPX chart courtesy of Trading View updates the action. The presumed Intermediate wave (2) bottomed on 11/03/22 and retraced almost an exact Fibonacci .50 retrace of Intermediate wave (1). The subsequent rally appears to beContinue reading “S&P 500 – Short -Term Elliott Wave Forecast – 11/11/22“
S&P 500 – Short -Term Elliott Wave Forecast – 11/09/22
The SPX 500 (SPX) rally from 10/13/22 to 11/01/22 appears to have completed an extended Elliott wave impulse pattern. The 30 – minute SPX chart courtesy of Trading View illustrates the action. The decline from the 11/01/22 top looks like a developing Zigzag correction. If so, it could complete near the 3,650 area which isContinue reading “S&P 500 – Short -Term Elliott Wave Forecast – 11/09/22“
Dow Jones Industrial Average Could Make a New High in 2023
The 2023 Stock Trader’s Almanac has been published. This annual book has a tremendous amount of statistical data about the US stock market. One of the sections in this year’s edition is titled “Why a 50% Gain in the Dow is Possible from its 2022 Low to its 2023 High”. The article details the actionsContinue reading “Dow Jones Industrial Average Could Make a New High in 2023 “
Four Dimension Trading 