Expanding Flat Correction Complete – Part – Two

Additional evidence that an  Elliott wave – Expanding Flat correction probably completed at the S&P 500 (SPX)  05/04/23 bottom. The chart illustrates a textbook Elliott wave – Expanding Flat.  The pattern  when correcting bull moves is composed of three – waves down, three waves up, and five waves down.   The SPX – 15-minute chartContinue reading “Expanding Flat Correction Complete – Part – Two”

Expanding Flat Correction Complete – 05/04/23

The 05/03/23 blog “Wild Oscillations” noted that the Fibonacci Inverse ratio of 1.145 was a characteristic of an Elliott wave – Expanding Flat or a Running Horizontal Triangle.  Today 05/04/23 the S&P 500 (SPX) completed what appears to be an Expanding Flat. The SPX – 30 – minute chart courtesy of Trading View illustrates theContinue reading “Expanding Flat Correction Complete – 05/04/23”

UK 100 Secondary Top Could be in Place – 04/27/23

The 04/23/23 blog “UK 100 at Sell Point? – 04/21/23” noted the UK 100 (UKX) had reached an area of chart resistance.  Since then, the peak at 7,936 has held.   The daily UKX chart courtesy of Trading View updates the action. Price has begun to rollover.  The daily RSI has crossed below it’s movingContinue reading “UK 100 Secondary Top Could be in Place – 04/27/23”

Alphabet Inc. Could Signal an S&P 500 – Shorting Opportunity

It’s possible the S&P 500 (SPX) completed an Elliott wave – Inverse Horizontal Triangle, if so a multi- month decline may have begun.  However, one important company Alphabet Inc. (GOOG) could be poised for a culminating rally. The daily SPX chart courtesy of Trading View illustrates its prime Elliott wave count since January 2022. TheContinue reading “Alphabet Inc. Could Signal an S&P 500 – Shorting Opportunity”

UK 100 at Sell Point? – 04/21/23

The 04/19/23 blog “UK 100 Near Sell Point – 04/19/23” noted “The UKX has reached the resistance zone and a small rally could complete the Minor wave “2” formation.” The 3 – hour UK 100 (UKX) chart courtesy of Trading View updates the action. The upper end of chart resistance was estimated to be 7,975,Continue reading “UK 100 at Sell Point? – 04/21/23”

The Next S&P 500 Support Level – Part – Two

The 04/20/23 blog noted that the S&P 500 (SPX) had two Fibonacci support levels.  One at 4,107.81 and the other at 4,108.06.   On 04/21/23 the SPX low was at 4,113.86 only 5.80 points from the prime Fibonacci coordinate. The SPX – 5 – minute chart courtesy of Trading View updates the action. The Elliott waveContinue reading “The Next S&P 500 Support Level – Part – Two”

UK 100 Near a Sell Point -04/19/23

The 04/02/23 blog “Britannia Rules the Elliott Waves” noted that if the UK 100 (UKX) exceeded a  .618 retracement of the 02/16/23 to 03/20/23 decline – the next resistance was at 7,850 to 7,975. The 3-hour UKX chart courtesy of Trading View updates the action. The UKX has reached the resistance zone and a smallContinue reading “UK 100 Near a Sell Point -04/19/23”

Crude Oil Elliott Wave Pattern – 04/14/23

Recently Saudi Arabia announced a cut in Crude Oil production.  Could this be the start of a new Crude Oil bull market?  Elliott wave patterns from Crude Oils top in March 2022 suggest something else could be happening. The daily Crude Oil (CL2!)  chart courtesy of Trading View illustrates the prime Elliott Wave count fromContinue reading “Crude Oil Elliott Wave Pattern – 04/14/23”

       U.S. Stocks Could Rally for Another Week

On 04/13/23 the S&P 500 (SPX) appeared to be nearing an important top.  The action on 04/14/23 has invalidated that forecast opening the door for at least another week of rising prices. The SPX 15 – minute chart courtesy of Trading View shows what happened. The 04/13/23 blog “Suspicious Decline – Part -Two” noted thatContinue reading ”       U.S. Stocks Could Rally for Another Week”