Near the end of the 2022 trading year, it appeared the S&P 500 (SPX) was basing for a big move up that could begin on the first trading day of 2023. What happened was a continuation of the sideways move that developed into what looked like an Elliott wave – Horizontal Triangle. On 01/05/23 theContinue reading “Big Move Up Not Down”
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Potential Thrust Down and Bottom on 01/06/23
The S&P 500 (SPX) moves up from 12/19/22 to 01/04/23 have been shallow and choppy, the signature of a correction in a down trend. Specifically, the movement appears to be an Elliott wave Horizontal Triangle. The 30-minute SPX chart courtesy of Trading View shows how this pattern fits within the action since the 10/13/22 bottom.Continue reading “Potential Thrust Down and Bottom on 01/06/23”
Short – Term Elliott Wave Count – 01/01/23
The prime S&P 500 (SPX) Elliott wave count from the 12/22/22 bottom is a series of “one’s” and “two’s” up. This is the most bullish Elliott wave configuration and the prelude to a powerful move up. The SPX 15-minute chart courtesy of Trading View illustrates the action. Minor wave “1” is a Leading Diagonal Triangle.Continue reading “Short – Term Elliott Wave Count – 01/01/23”
S&P 500 – Bottoms at Support Level
The 12/17/22 blog “The Bear is Back – Part Two” illustrated two S&P 500 (SPX) Fibonacci support levels at 3,806.29 and 3,796.27. On 12/20/22 the SPX bottomed almost exactly at the lower level. The daily SPX chart courtesy of Trading View shows what happened. An exact Fibonacci .50 retracement of the SPX October to DecemberContinue reading “S&P 500 – Bottoms at Support Level”
The Bear is Back – Part Two
Within the first ten – minutes of the S&P 500 (SPX) session on 12/16/22 there were two bottoms made. The first was at almost exactly 3,868.18 which was Fibonacci support noted in this websites prior blog. The second bottom was at 3,863.74. Subsequently there was a rally that lasted ten – minutes, the SPX thenContinue reading “The Bear is Back – Part Two”
The Bear is Back
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”
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”
Four Dimension Trading 