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The prior blog noted the S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle correction which could be the  prelude to a year end rally .  The SPX – 60 – minute chart courtesy of Trading View updates the progress  of the presumed Horizontal Triangle. The supposed Minor wave “C” declined deeperContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Two”

The S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle.  If so, after its completion the SPX could have surge up in the last week of 2021 to the mid-4800 area. Horizontal Triangles appear only in the fourth wave positions of motive patterns, and in the “B” or “X” wave positions ofContinue reading “S&P 500 Could be Basing For a Year End Rally”

The 10/24/21 blog “Possible US Stock Market Top – December 2021” focused on long-term Fibonacci time cycles  that indicated US stocks could have a major top sometime in December 2021.  The 11/10/21 blog “Possible S&P 500 – Price Topping Zone”  illustrated long -term Fibonacci price analysis  forecasting the S&P 500 (SPX) could have major resistanceContinue reading “S&P 500 on Track for Potential Major Top – December 2021”

Several blogs have illustrated that the SPDR Consumer Staples  fund – (XLP) since March 2020 has a clear Elliott wave pattern.  The most recent post was 07/03/21 “Consumer Staples Fund – Update July 2021” and noted that XLP could have  completed an Elliott five-wave impulse pattern from March 2020 to June 2021.  Subsequent to theContinue reading “Consumer Staples Fund on Track for Potential Major Top – December 2021”

The 10/24/21 Blog “Possible US Stock Market Top – December 2021” used Fibonacci Time cycles  to forecast a possible significant top for US stocks sometime in December 2021.  This blog uses Fibonacci price analysis  on the S&P 500 (SPX) to discover a possible major top of the bull market that began March 2009. When makingContinue reading “Possible S&P 500 – Price Topping Zone”

The 10/14/21 blog noted that the S&P 500 (SPX) was near an important resistance zone that went up to SPX 4465.40. On 10/15/21 the SPX punched through this resistance zone which opens the door for a move up to at least the all-time high made on 09/02/21. The daily SPX chart courtesy of Trading ViewContinue reading “Bullish Breakout 10-15-21”

First some clarification about the prior two blogs. In the “Three Possible Elliott Wave Count” post there were only two charts shown.  The first chart illustrated two of the possible wave counts – the potential end of the Double Zigzag count and a possible continuation of the Double Zigzag. The second chart examined the possibleContinue reading ”     Nasdaq Composite – Detailed Elliott Wave Count”

The US stock market decline since early September continues struggle its way down. The 60-minute S&P 500 (SPX) chart courtesy of Trading View illustrates two possible Elliott wave counts. The 10/02/21 blog “Struggling to Go Lower – Part Two” noted that an Elliott wave Double Zigzag down was perhaps under development.  The count shown inContinue reading “Three Possible Elliott Wave Counts”

The 09/22/21 blog “One More Decline Likely” illustrated that the prime Elliott wave count had the S&P 500 (SPX) in a bearish series of “One’s” and “Two’s” down from the 09/02/21 top.  This is still a valid wave count; however, evidence is emerging that suggest the drop from the all-time high could be only aContinue reading “Struggling to Go Lower – Part Two”