As a follow-up to the previous post on the 1987 Market Crash (on the daily chart), the following post creates an overview of the crash starting with 1984 and moving up to the crash, while looking at the perspective with an Elliott Wave impulse count. Let’s see it. S&P 500 Weekly Chart with Elliott Waves:…
I was scanning some different periods for interesting chart patterns and wanted to share some insights on the structure of the 1987 stock market ‘crash’ in the S&P 500 Index. Let’s look at the chart of 1987 and then see the few years preceding this move with an Elliott Wave count overlaid on price. 1987…
A friend recently asked me what I thought of eBay and Amazon simply because he figured – as many people do – that because online shopping as a trend is growing, then the stocks of these two particular companies must be surging. Let’s view the weekly charts of EBAY and AMZN to see if this…
You’re looking at a stock chart for the first time – where do you start?! What do all those lines mean? Price data is often plotted on the vertical or Y-Axis while time data (minutes, days, weeks, months) is often plotted on the horizontal or X-Axis. The goal of reading a chart is to determine…
A reader asked me to look at Fibonacci Price Extensions as part of the price wave structure, and this post represents the major Fibonacci Extensions/Projections for the S&P 500 as a guideline for price possibilities going forward. Let’s use this as a reference going forward of the possibilities – though not certainties – ahead. Standard…
Warning – this post is not for the faint trading heart! A few readers have asked alternate methods to trade crude oil price moves and I’ve generally suggested the USO fund and a few others, but if you have some experience under your belt and want to take the most advantage of your directional bias,…
Wouldn’t it be nice if stocks followed a clean, swinging pattern from one point to another? Usually we can trace that pathway with little interference but recently in Exxon-Mobil (XOM), we’re seeing a high noise to signal ratio that’s worth a closer look. Exxon-Mobil (XOM): Coming into October, XOM behaved like it ‘should,’ meaning that…
Here’s a chart you might want to save as a reference in terms of overhead possible Fibonacci resistance levels and their respective confluence zones. The graph takes the S&P 500 swing highs and runs corresponding Fibonacci retracement grids all to the most recent 750 spike low in November and highlights areas of Fibonacci clusters. Let’s…
A reader asked for my take on a potential Elliott Wave count for the 10-Year T-Note and here is my current interpretation of the possible Elliott Wave structure building there. Let’s look at the yield chart and then the price chart (which are of course inverse). 10-Year T-Note Yield: The longer timeframe Elliott count is…
Chicos Fashion (CHS) was an ‘on-fire’ and in-demand stock a few years ago, but recently, the stock has soured along with the broader retail sector, driving many stocks to multi-year lows and wiping some out of the market completely. Let’s take a look at CHS to note the full Elliott Wave progression, and then compare…