On 02/24/23 the S&P 500 (SPX) bounced off of important support, however the balance of momentum indicators imply more downside action. The daily SPX chart courtesy of BigCharts.com illustrates what’s happened. Shortly after the SPX opening on 02/24/23 it reached the 200 – day moving average (MA) triggering a rally that continued throughout the session. Continue reading “Mixed Signals for U.S Stocks”
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Short – Term Elliott Wave Count for Gold
The prior two blogs examined the long and intermediate – term Elliott wave counts for Gold. The focus now shifts to the Elliott wave action from March 2022 to February 2023. The daily Gold chart (XAUUSD) courtesy of Trading View illustrates the short- term view. Gold’s decline after 03/08/22 was in the form of anContinue reading “Short – Term Elliott Wave Count for Gold”
Intermediate – Term Elliott Wave Count for Gold
The 02/20/23 Blog “Long-term Elliott Wave Count for Gold” examined the Elliott wave structure for Gold in U.S dollars from 1969 to 2023. The weekly Gold chart courtesy of Trading View (XAUUSD) illustrates a potential Elliott wave count from 2011 to 2023. The 02/20/23 blog noted that the Gold peak in 2011 could either beContinue reading “Intermediate – Term Elliott Wave Count for Gold”
Long-Term Elliott Wave Count for Gold
The action of Gold in the last several months suggests it could be basing for a large bull market that could extend far beyond 2023. The long -term view of Gold gives us a starting point of what could develop in the coming months and years. The monthly Gold chart courtesy of Trading View showsContinue reading “Long-Term Elliott Wave Count for Gold”
Natural Gas May Have Bottomed on – 02/17/23
The 02/12/23 blog “Natural Gas Bottoming Signals” illustrated evidence from all four market dimensions that Natural Gas could be forming a major bottom. Elliott wave analysis now indicates a major bottom may have been made on 02/17/23. Natural Gas (NG1!) weekly continuous futures chart courtesy of Trading View illustrates the long- term Elliott wave count.Continue reading “Natural Gas May Have Bottomed on – 02/17/23”
Watch the Channel Lines – 02/16/23
The 02/14/23 blog “Fascinating Elliott Wave Pattern – Part – Two” illustrated that the Dow Jones Industrial Average (DJI) may have completed an Elliott – nine- wave – Horizontal Triangle. Today, 02/16/23 the DJI broke below the 02/14/23 bottom. The nine – wave Horizontal pattern is still valid, however additional downside action could change theContinue reading “Watch the Channel Lines – 02/16/23”
Fascinating Elliott Wave Pattern – Part Two
Today 02/14/23 the Dow Jones Industrial Average (DJI) made an early session high at 34,331.47 then decline for about 90 -minutes bottoming at 33,824.45. This could just be a small inconsequential drop. However viewed from an Elliott wave perspective it could be the completion of a pattern that began on 01/05/22. The daily DJI chartContinue reading “Fascinating Elliott Wave Pattern – Part Two”
Fascinating Elliott Wave Pattern
From the bottom made on 10/13/22 to 01/13/23 the Dow Jones Industrial Average (DJI) retraced about 71% of its January to October 2022 bear move. The DJI upside performance was far stronger than the S&P 500 (SPX) and the Nasdaq Composite (IXIC). Then from 01/13/23 to 02/08/23 the DJI underperformed both the SPX and IXIC. Continue reading “Fascinating Elliott Wave Pattern”
Rule, Britannia!
The most recognized line in the British patriotic song “Rule, Britannia!” is “Rule Britannia, Britannia rule the waves.” On 02/03/23 the British stock market – UK 100 index (UKX) was the first major national stock index to make a new all-time high. Perhaps UKX is ruling the Elliott waves. The move above the prior all-timeContinue reading “Rule, Britannia!”
The Most Bullish U.S Stock Sector
Of the twelve SPDR Sector Select ETF’s the most bullish is the Energy sector fund (XLE). From the first trading day of 2022 – 01/03/22 to 01/27/23 the S&P 500 (SPX) is down 14.4%. The XLE over the same time is up 65.4%. Assuming the current uptrend in U.S stocks continues, XLE is likely toContinue reading “The Most Bullish U.S Stock Sector”
Four Dimension Trading 