I wanted to highlight a critical overhead resistance level – what I call the “Cradle Crossover” – that is occurring now in the S&P 500 Index. A resolution of this structure would certainly give us clues as to what to expect going forward.
As a slight continuation of last night’s “Elliott Wave” update post, let’s look at the hourly (60m) chart of the S&P 500 from the beginning of 2009 until present (mid-day Friday, March 27) with a special look at divergences, moving average structure, and fractal Elliott Waves. (Click for larger image) The year began with a…
I’ve been pointing out Fibonacci confluence at the 800 level on the S&P 500 for a little while now, but I wanted to show a third layer to the 800 level which perhaps is turning out to be rather significant resistance. There’s no guarantee 800 will hold, but it can be helpful to know of…
I wanted to introduce a new feature – that of “Color Bars” in our analysis. Let’s get started with a Daily look at the S&P 500 Index. Let’s do a quick introduction to the color bars and their logic. The bars are based on an Average True Range function (credit to LBR Group) where the…