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I've posted that the SPX could reach the 2230 - 2260 9/30/16 to 10/03/16. The Nasdaq (IXIC) has made a new all time high unconfirmed by the SPX and DJIA. This in itself is a bearish signal, additionally the IXIC has a significant RSI bearish divergence. The IXIC appears to have formed an Elliott wave Ending Diagonal Triangle. A typical Fibonacci relationship is...

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My last post noted the SPX was close to completing an Elliott wave Horizontal Triangle. I thought the pattern would complete today 9/21/16 in the first hour of trading in the area of 2130 -2135. The SPX rallied on the open and never got close to the target zone. What happened appears to be a rare nine wave Horizontal Triangle. In this particular pattern the wave...

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The SPX appears to be forming an Elliott wave Horizontal Triangle. There are a cluster of four Fibonacci coordinates in the area of 2131 - 2133. This represents powerful support. A break blow 2129 will open the door to test the bottom made on 9/9/16 at 2119.12. A break below 2119.12 could be very bearish. The most likely scenario is that the SPX bottoms in the...

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My last post noted the SPX could reach a major peak in just a few weeks. You want to short weakness not strength. SHLD is one of the weakest stocks in the market. SHLD has underperformed the US stock market since May of 2010 when it topped out at 98.29 Since the recent peak at 18.18 SHLD has declined in an Elliott five wave pattern. Wave "5" made a new low with a...

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There was a typo on the SPX chart posted 9/17/16 with incorrect price targets this chart has the correct targets SPX 2230-2250

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My post on 9/12/16 noted a Fibonacci time cycle due on 9/14/16 My post on 9/13/16 noted Fibonacci price targets at SPX 2103 and 2116. On 9/14/16 the SPX hit 2119.90 marginally above the bottom made on 9/9/16 and only 3 points above the higher Fibonacci price target at 2116. The subsequent move up has been decisive and strongly implies a new rally has...

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My last post noted four Fibonacci time cycles due on 9/14/16 In an earlier post I noted two Fibonacci price targets at SPX 2116.59 and 2103.76 There is another Fibonacci price target - the 2193.81 high - 2157.09 first decline bottom = 36.72 x 1.618 = 59.41. 2157.09- 59.41 = 2097.68 To allow for leeway the broader target zone is 2118 - 2095. There is a high...

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There are four Fibonacci time cycles targeting 9/14/16 as a possible turn. SPX price support remains 2120 to 2100 Mark

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In my 9/6/16 post I noted a Fibonacci time cycle due on 9/7/16 and a possible secondary high at SPX 2187-2188 near the open. The target was achieved one hour into the trading day then declined about 8 points followed by a rally in the second half of the day almost back to the high of the day. That the SPX could retrace so much of the decline is a clue that the...

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My first post on Fibonacci time cycles illustrated that a Fibonacci 144 trading days added to the SPX 1/20/16 bottom targeted the 8/15/16 peak. Adding 144 trading days to the marginally lower 2/11/16 bottom targets 9/7/16 as a possible turn date. Adding a Fibonacci 3 trading days to the last Fibonacci cycle day of 9/1/16 also targets 9/7/16. On 9/6/16 the...

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There was a Fibonacci time target due on 9/1/16 which was illustrated in my first post. The SPX has made at least a short term bottom on 9/1/16, The Fibonacci price target was SPX 2120-2100. The bottom on 91/16 was at 2157 no where near the price zone. I expected that a decline into 9/1/16 could be an Elliott wave "4" from the 02/11/16 bottom. While the 8/15...

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The SPX decline into the Fibonacci target zone of 2116-2103 can still happen as long as 2187.94 is not broken. A move above that level would open the door for a move up 2200. The Fibonacci time target of a bottom on 9/1/16 is in doubt because it required a large SPX decline today 8/29/16. There is a very good chance the decline will continue on 8/30/16...

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In my first post I noted a Fibonacci time cycle due on 09/01/16 which also happens to be a new moon. Todays post examines two Fibonacci price coordinates that indicate a zone for a likely correction bottom. A Fibonacci .236 retrace of the entire bull move from February 11th to August 15th targets SPX 2103.26 A Fibonacci .382 retrace of the move up from the June...

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Above is a close up view of the long term Elliott wave count I illustrated in my 8/22/16 post. A Elliott wave double Zigzag formed from the 5/20/15 peak to the 2/11/16 bottom. What could be forming since 2/11/16 appears to be a possible Ending Diagonal Triangle. Wave "4" of the structure could be underway now. If so the bulls-eye price target is SPX 2114,...

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Since the major bottom made in March 2009 the SPX appears to be in either a developing extended five wave pattern or in the later part of a rising Zigzag. Regardless of which pattern is correct based on the recent monthly MACD bullish cross over the bull market could continue for several more months before a major peak is in place. Fibonacci time cycles point...

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SPX daily 2016-1-13 to 2016 8-19