I describe the week’s actions and discuss where we are in the market for the upcoming week.
Let’s take a look at India’s Nifty Index both on a Weekly and Daily view and look at an alternate Elliott Wave count and vital support and resistance numbers. $CNXN Nifty Weekly: I’m going to use this post to explore some possibilities instead of giving an opinion on the likely direction due to the price…
It’s on the chart permanently now – the S&P 500 officially closed February beneath the 2002 Bear Market lows – but let’s look beyond that. Did you know the S&P 500 is at a very critical potential long-term Fibonacci support level? Let’s see it on a Monthly chart that dates back to 1980. (You’ll definitely…
Let’s take a weekly look at the 10-Year Treasury Note Price and highlight an interesting Fibonacci Confluence Cluster price and note the recent action taking place. US 10-Year Treasury Notes (Price): (You’ll need to click on the image for large chart) Price broke out of a lengthy downward sloping trendline (actually trend channel) in late…
How might the Australian All Ords Index gives us clues as to the possible resolution of the S&P 500 Index? It might do so by having a relatively clearer Elliott Wave pattern to view. Let’s take a quick look at the Index and a possible Wave Interpretation. $AORD Australian All Ords Index (weekly): We’ll start…
With 2008 firmly behind us, I thought it would be beneficial to compare the performance of the S&P 500, US Dollar Index, 10 Year Note Price, and CRB Commodity Index to see how these markets were related in their moves throughout 2008. Cross-Market Comparison for 2008: Using a customized template in StockCharts.com’s “PerfChart” section, I…
With last week’s price action taking us slightly above resistance on the daily chart, let’s view both the daily and weekly price structures of the S&P 500 and note additional possible overhead resistance targets. S&P 500 Daily: The first thing that should jump out at you is that price rallied the last three days and…
Often, the Sector Rotation model can give us insights into a deeper structure of the market, and can highlight possible clues for the pathway ahead. Let’s take a look at the absolute and relative performance of the major AMEX Sectors and see what they might be hinting to us. AMEX Sector SPDRs performance *Relative* to…
I know – these titles of long term structural chart posts seem boring, but they’re essential in seeing the larger picture or structure from within the current ‘unprecedented’ moving are occurring right before our eyes. Let’s take a moment now and look at the 30 Year Treasury Bond price dating back to 1980 to today…
A lot of us are getting caught up in the recent strength… now weakness… in the US Dollar Index, but some may have forgotten the long term structure that overlays the current price movements. Let’s take a look at the US Dollar Index from 1984 to present and try do determine an appropriate backdrop from…
Let’s take a moment to view the daily and weekly charts of the S&P 500 Index to determine the structure and technical position entering next week. S&P 500 Weekly Chart: We’re still in a lengthy confirmed downtrend with volume reaching very high proportions into the price lows of October and November, signaling potential capitulation selling…