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”
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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”
Fourteen Year Pattern Nearing Completion
Some time in the next few months a major national stock index could be completing an Elliott wave pattern that began in October 2008. One of the most fascinating discoveries that R.N Elliott made about wave theory is that form remains constant regardless of size. A wave pattern of five – hours could have theContinue reading “Fourteen Year Pattern Nearing Completion”
Philippine Stock Exchange – Update – 01/20/23
Recently several national stock markets have exhibited bullish signals. One of the strongest upside markets is the Philippine Stock Exchange (PSEI). The daily PSEI chart courtesy of Trading View illustrates its performance. Since October 2022 the PSEI has outperformed the S&P 500 (SPX) by a wide margin. From October to December the SPX had aContinue reading “Philippine Stock Exchange – Update – 01/20/23”
Nearing the Bear Panic Point
The S&P 500 (SPX) is close to the declining trendline from the January 2022 top and the 200 – day moving average (MA). A move above this important resistance could trigger massive, short covering and bring in new long side trader’s. The panic point is around SPX – 4,000. Daily momentum suggests a move aboveContinue reading “Nearing the Bear Panic Point”
UK 100 Upside Breakthrough
Last week the UK 100 (UKX) broke above its 2022 high, becoming the first major national stock index to exceed its 2022 peak. The UKX could help in detecting a global stock market top sometime in early 2023. The 11/03/22 blog “Bullish Evidence From the United Kingdom Stock Market” illustrated that the UKX –Continue reading “UK 100 Upside Breakthrough”
Four Dimension Trading 