Since the S&P 500 (SPX) decline bottom made on 01/24/22 the moves up have been choppy, and the moves down have been choppy. An Elliott wave – Horizontal Triangle could be forming. This structure was examined the 01/14/22 blog “Important Cycle Point – 01-14-22” and in the 01/19/22 blog “Horizontal Triangle Update – 01-19-22.” HorizontalContinue reading ” Choppy Rallies and Choppy Declines”
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The Next S&P 500 – Support Level
The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the long – term Elliott wave count and the next potential support zone. The Fibonacci .236 retrace level of the SPX bull market from the March 2020 bottom is at SPX 4198.71. Just below this is the bottom made on 06/18/21 at 4164.40. ThisContinue reading “The Next S&P 500 – Support Level”
Something Different is Happening
The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the action on 01/24/22. The SPX went 4.7% below its 200 – day Moving Average (MA). Moves of more than 2% below the 200 – day- MA imply something more bearish developing. At today’s low the SPX had declined 12.4% from the all-time highContinue reading “Something Different is Happening”
Horizontal Triangle Update – 01-19-22
The presumed S&P 500 (SPX) – Elliott wave Horizontal Triangle illustrated in the 01/15/22 blog could still be forming. The daily SPX chart courtesy of Trading View shows the recent price action. Its possible Minor wave “C” – down is forming. Both lines of daily Stochastic have reached the oversold zone implying that wave “C”Continue reading “Horizontal Triangle Update – 01-19-22”
Important Cycle Point – 01-14-22
If the S&P 500 (SPX) bottom of 4614.75 made on 01/14/22 holds, it represents an important cycle point. The daily SPX chart courtesy of Trading View illustrates the best Elliott wave count. It appears an Elliot wave – Running Horizontal Triangle may have completed on 01/14/22. In Running Horizontal Triangles – wave “B” slightly exceedsContinue reading ” Important Cycle Point – 01-14-22″
Possible Major Top in Place for US Stocks – 01- 07-22
On 01/04/22 two trading days after a new moon the S&P 500 (SPX) completed what could be an Elliott – five wave impulse pattern from the 12/03/21 bottom. It could also be the final Intermediate degree wave up from the SPX 10/30/20 bottom, this wave count has been illustrated in several blogs. The daily SPXContinue reading “Possible Major Top in Place for US Stocks – 01- 07-22”
Possible Path For US Stocks in Early 2022
If the S&P 500 (SPX) can soon make a new all-time high it could be completing an Elliott Impulse wave up from the 12/03/21 bottom. The daily SPX chart courtesy of Trading View illustrates the development of a possible five wave move up. The SPX in early 2022 could be repeating what happened to theContinue reading “Possible Path For US Stocks in Early 2022”
Mixed Picture on Final Trading Day of 2021
Bullish factors on 12/30/21 The S&P 500 (SPX) has still not reached the major Fibonacci resistance zone 4840 to 4890. Fibonacci points act as magnets then resistors. Markets are usually pulled to Fibonacci points. Failure to reach the zone opens the door for continuation of the rally into the first week of 2022. AnotherContinue reading “Mixed Picture on Final Trading Day of 2021”
The Clearest Elliott Wave Patterns – December 2021
Several blogs have illustrated that the SPDR – Consumer Staples Fund (XLP) has had one of the clearest Elliott wave patterns since the March 2020 bottom. The 11/14/21 blog “Consumer Staples Fund on Track for Potential Major Top – December 2021” noted that XLP could have a major peak in the area of 75.46. TheContinue reading “The Clearest Elliott Wave Patterns – December 2021”
S&P 500 Could be Basing For a Year End Rally – Part Three
On 12/23/21 the S&P 500 (SPX) moved above the high made on 12/16/21, this invalidated the Elliott wave count illustrated in the 12/21/21 blog. That wave count had the SPX 12/20/21 bottom as a supposed Minor wave “C” of a developing Elliott wave – Horizontal Triangle. If the 12/20/21 bottom was wave “C” then theContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Three”
Four Dimension Trading 