Boeing BA is the largest single DJI component. Today's BA move above a short term top and declining trend line signals that BA and DJI could soon be headed to ne all-time highs. Mark
The 2019 SPX rally could be on the same general course as the late 1986 to August 1987 rally. Note that the move from late 2018 bottom to May 1, 2019 is a gain of 25.8%, exactly the same as the late 1986 to April 1987 rally. The strong blast off of what was identified as maximum value area SPX 2693 to 2725 is a powerful hint more rally could come in the next...
My 5/11/19 post was a Yellow Alert stating that the US stock market could be in at least an intermediate degree correction. Subsequent posts had 5/31/19 as the bulls-eye target date for a potential bottom with a price range in the low SPX 2700 area. A bottom was made 6/3/19 - a new moon date and one trading day after the bulls-eye date. SPX bottom was at 2728...
The US stock market rally for the last two days may look powerful, its not. Yesterday the NYSE Composite A/D line went down. Today the S&P E-Mini is approaching an area of chart resistance. There are Bearish RSI divergences on intraday S&P E-Mini. SPX could quickly fall to the 2700 to 2725 area by 6/7/19 or 6/10/19. Mark
My prior SPX post noted the SPX could reach support in the 2693 to 2725 area on 5/31/19. Early in the day on 5/31 the SPX hit a daily Point of Control value at 2753. The SPX at that level had an hourly RSI bullish divergence. The SPX rallied off this point yet before the close this rally was retraced. Daily Stochastic has reached oversold level indicating...
Money gravitates to where it is treated best. Currently the mid area of the US interest rate curve is inverted. 90 day US T -Bill rate = 2.29% (IRX) Five Year US T-Note rate = 1.92% (FVX) Ten Year US T-Note rate = 2.14 (TNX) Thirty Year US T-Bond rate = 2.58% (TYX) While mid and long rates have plunged, short term rates have had only a shallow decline. Notice...
Occasionally charts on this site will show many trend lines. Sometimes you just need one. Mark
My SPX 5/11/19 declared a Yellow Alert for US stocks, since then the SPX has remained below its all-time high made on 5/1/19. An important bottom could be made in the low SPX 2700 area by late May. Bullseye date is 5/31/19. First a tip of the hat to Tradingview member and frequent poster The_Unwind. My post today was inspired by The_Unwind's 4/12/19 SPX post...
My 5/16/19 SPX post noted an SPX move above 2954 could be an important bullish signal. Assuming the SPX does not break above 2954 in the next five trading days, the most likely scenario could have a decline into a late May bottom, low 2700 area. It's possible the SPX is in a rough analogy with the SPX late December 1986 to August 1987 rally. The SPX 1987...
On 5/1/19 the SPX high was at an important Fibonacci point and was a Fibonacci 144 trading days from the 10/3/18 peak. A break above 2954 could be a very important event. If this happens I will change my opinion to Long on US stocks. On 5/16 the Stochastic had a bullish cross. The RSI is higher than it was on 5/10 even though price is lower on 5/16. The German...
This is a Yellow Alert! The US stock market has entered a seasonal bearish time zone May to November. On 5/1/19 the SPX hit approximately Fib ratio resistance of 1/1 with the September 2018 top. Double top. The drop from 5/1/19 is now the largest in both time and price since the rally began in late December 2018 - something different is happening. Both daily RSI...
Boeing (BA) finally came down on news. News that had nothing to do with BA - as much of the US stock market came down on tariff fears. Today BA came close to a .618 retrace of its most recent rally. BA moved outside its lower Bollinger Band usually a sign a decline is complete. There were bullish divergences on the daily RSI and MACD. BA is perhaps the most...
Boeing (BA) is a classic example of a stock that has fully discounted bad news. For the second time since the original bad news came out Boeings stock has been unable to make a new decline low. Additionally BA has formed an Elliott wave Horizontal Triangle including four Fib relationships between the various triangle sub waves! There's a very high probability...
My prior post noted that the SPX could rally into September and reach 3300. On 5/3/19 the Russell 2000 (RUT)- gave several powerful bullish signals. RUT has been lagging and is still below its all-time high. However, on 5/3/19 it did make a new post December 2018 rally high, in the near term its stronger than the SPX. More importantly the wave structure...
Is the SPX bull market game over? Doubtful, its more like game on! The rally from 3/25 at 2785 to 5/01 at 2954 appears to be a completed impulse wave measuring 178 points The prior rally from 3/8 to 3/21 was 138 points. The ratio between these waves is 178/138 = 1.22. The May 1st top could be Minor wave 3 however the typical relationship between waves 3 and 1...
The SPX appears to be near completion of an Impulse wave up from the 03/25/19 - 2785 bottom. Late on 4/26/19 the SPX appears to have completed an Elliott wave Horizontal Triangle, if so the rally into the close is probably the early part of a post triangle thrust up. There are Fibonacci resistance points in the 2947 to 2955 area. There's a high probability...
In two amazing trading days this week Qualcom (QCOM) rose 45%, incredible for a large cap stock. Also incredible is that QCOM appears to have completed a nineteen year Elliott Wave - Horizontal Triangle probably one of the largest examples ever. Usually after a Horizontal Triangle there is a powerful thrust which can be measured by the widest part of triangle. ...
US stocks are seasonally bullish until early May. Time is running out for the bulls. Major SPX resistance is at 3047. Today 4/17/19 SPX hit 2918 within 100 points of the leeway zone for 3047. Space is running out. Toady the SPX opened at 2918 then dropped sharply. Its now possible to count three Intermediate degree waves up from the 12/26/18 bottom if so the...