That’s quite an ambitious headline, but it seems the US Equity Market is more than ready for a counter-trend retracement rally up. Let’s look at the S&P 500 to see the structure and how far the rally might last. S&P 500 Daily Chart: Friday’s close and Monday’s close both resulted in dojis in deeply oversold…
With the media discussing the six stocks that fell beneath $10 in the Dow Jones Average, let’s also compare that to the number and percentage of stocks that have fallen beneath $10 per share in the S&P 500 – you can also use this chart as a quick reference. Stocks Under $10 on the S&P…
With the S&P 500 at new lows not seen since 1996 – clearly surpassing those lows made in October and November 2008, you would expect the Volatility Index – or VIX – to be making new highs as well. It’s not. Let’s look at the VIX and see what clues it might be telling us….
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 quick look at the developing potential Elliott Wave Structure of the S&P 500, starting with the Daily Chart and then dropping to the 60-minute timeframe (mid-day update). S&P 500 Daily Chart: Without going into too much detail, price appears to be in Wave 3 of terminal Wave (5), with perhaps a few…
A very interesting development is taking shape on the daily US Equity Index Charts – there appears to be two distinct – and opposing – Head and Shoulders formations taking shape… and we’re at the break-out point of both patterns. Let’s see these and what they might imply. S&P 500 Daily: I’ve never seen two…
Tuesday’s off to a horrific start for the bulls as the indexes are down over 3% mid-day. Let’s see this in the broader context of the S&P 500’s Daily Chart and overlay a possible Elliott Wave Count complete with terminal projection and proposed pathway. S&P 500: This is my preferred count for the moment, which…
We may see a major resolution of the tight range in the S&P 500 this week. Let’s define that range and see what the current S&P 500 Structure is telling us. S&P 500 Daily Chart: I could have drawn numerous trendlines and channels to show the price consolidation but decided to let the price speak…
It’s time to update the Elliott Wave count and see what might be happening in the S&P 500 and how we might manage risk accordingly. Possible Elliott Wave Interpretation on the S&P 500 Index: This count assumes that the larger Third Wave has indeed completed. Refer back to my December post that asked “Which Elliott…
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…