My prior GLD post noted it was nearing major Fib resistance of the 2011 to 2015 bear market. That target has been achieved on the cusp of a seasonal bearish time that lasts until April. Additionally, Gold occasionally will peak at or near new moons. 2/23/20 is a new moon. Gold Commercials - their the group with the most money, have the largest Gold Futures...
On 9/8/19 I posted that GLD had marginally exceeded the 50% retrace of GLD's 2011 to 2015 bear market. It looked like GLD could be in a decline down to the 130 to 134 area. GLD made a bottom at 136 and, could within about a week - rally into .618 resistance at the 153 area. Gold Seasonal patterns are bullish into mid-February then bearish into April. So far...
On 2/6/20 the SPX hit a high of 3348.00 which is a bulls eye hit of a Fib relationship between waves "i " and " v " The relationship is the outlier Fib of .666 or 2/3. Its possible wave "v" is complete at 3348 however the weight of the momentum evidence is bullish. Two of the three momentum oscillators I use are bullish. If wave "v" is complete it implies a...
My 1/25/20 post noted the SPX could be in a 3 to 5% correction - target zone 3170 to 3240. The actual bottom was 3214. My 1/27/20 post noted a 42 day trading cycle with a bulls eye date 2/4/20 - with leeway of two trading days. Actual bottom was on 1/31/20 two trading days early. The supposed Minute wave ii correction was 5.49%, the supposed Minute wave iv...
There's a high probability an important SPX bottom could be in place at the 1/31/20 bottom. More detailed post will come on 2/5/20 Mark
My previous post noted the SPX has over the last several months a very reliable 42 trading day cycle of bottoms. The next cycle bottom is due on 2/4/20. Periodic cycles can have leeway, in this case a leeway of two trading days is acceptable, so its possible an SPX bottom could be in place on 1/31/20. If not, watch the 30 minute P/C ratio - chart symbol...
For several months the SPX has had a 42 trading day cycle. The next bottom is due 02/04/20. If the Elliott wave count is correct the supposed Minute wave "iv"-boxed will be equal in time to the supposed Minute wave "ii"-boxed on 02/04/20. Mark
The bearish daily RSI divergence at the most recent top at 3337 has held. RSI on 1/24/20 has broken below its level when SPX low was 3214. This implies the SPX could at least reach 3214. Please study prior SPX super bullish moves, such as from 1995 to 1996 or 2013 to 2014. Most of the SPX corrections in those bull markets were in the range of 3 to 5%. If the...
There's a very high probability the SPX is in a third of a third wave up. This is the most powerful Elliott wave upside configuration. In this situation the market rallies in a steady relentless manner. Any declines that occur in the next several weeks will probably be short and shallow - look for 2 to 3% in a period about 3 to 4 days. On 1/17/20 stocks...
My prior SPX post noted Fib resistance to could reach to SPX 3268. I made a small mistake in the calculation the correct Fib resistance is at 3270. Today 1/8/20 high was 3267 a short term Fib were wave i of the final five up equals wave v at 3267.90. It appears that over the last several trading days the SPX may have formed an extended Horizontal Triangle. The...
My prior SPX post noted that a break below 3222.30 would be bearish if not rejected within the first few minutes of trading. Today 1/6/20 the SPX broke support at 3222 and bottomed in the first minute of main session trading, Today's rally appears to be the final fifth wave up of an extended impulse wave. Wave (v) will equal wave (i) at 3263.70 very close to a...
The intraday SPX activity on 1/3/20 revealed where the next support/resistance levels are and how the market operates. Trading View member The_Unwind has recently been using the Multi - Time Period Indicator which can be found on this site indicator section. This is an excellent tool to use because it has aspects of the Market Profile method and can be used to...
Market turns are connected by the Fibonacci sequence time cycle. The Fibonacci sequence is; 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, - - - to infinity. Most of the major Dow Jones Industrial Average turns from the Twentieth century point to a possible major turn in 2021. 1932 bottom + 89 years = 2021 1966 top + 55 years = 2021 1987 bottom + 34 years =...
Evidence has been building that a major SPX bull market could be underway. I have noted major Fib resistance in the low 3300 area, which the SPX is rapidly approaching. Its possible that this resistance could be blown away opening the door for a move up to at least 4000. I've made a discovery that a major US stock market turn could come in the first quarter of...
My 12/2/9 post noted BTCUSD was nearing a broad support zone. The upper edge of this zone was reached followed by a rally that didn't hold. BTCUSD is now in a new decline and could reach a narrower buy zone in a few hours. A .618 retrace of wave ( i ) is at 7038.20. Wave "c" of a supposed wave ( ii ) is equal to wave "a" at 6984.50. Two Fib points very close...
My prior SPX post noted double Fibonacci resistance at 3154 to 3155. After that post the SPX had a short shallow decline and today has blasted above a very tight Fibonacci cluster. It takes a strong force to break strong resistance/support and we are seeing this today. This is additional evidence the main trend for US stocks is up and this trend could continue...
My 12/1/19 post - "Short - Term Decline May Have Begun" was correct SPX had made a peak on 11/29/19 just below two Fibonacci resistance points. My 12/2/19 post - "SPX Buying Opportunity Zone" was correct on 12/3/19 the SPX bottomed at 3070 in the upper range of the support zone 3040 to 3090. There's reason to believe the correction that began on 11/29/19 may...
The Elliott wave pattern for BTCUSD even down the 15 min scale is very clear. Sub Minutette wave "b" of a supposed Minuette wave ( ii ) appears to have taken the form of an Elliott wave Horizontal Triangle. After the termination of this pattern there is a post triangle trust. The thrust is usually the length of the widest part of the Triangle. In this case...