The U.S 10 - year Treasury yields from March 2020 are forming an extended Elliott wave impulse pattern. Weekly Stochastic suggest the rally could continue for several weeks. Watch for a bullish crossover of the MACD lines for confirmation. Mark
The Natural Gas ETF (UNG) has broken above the daily declining trendline. The bottom this week had a significant RSI bullish divergence Seasonal patterns for Natural Gas are bullish from mid - February to June. UNG ended the 02/24/23 session near 8.50. In the next few weeks it could reach 12.00 near Fibonacci and chart resistance. Mark
The SPX on 02/22/23 appears to have completed an Elliott wave - Double Zigzag correction. Hourly RSI and MACD had bullish divergences. A break below the 02/22/23 low is bearish. Mark
From 09/28/22 to 02/02/23 Gold formed a clear Elliott wave Impulse pattern. There's usually a Fibonacci relationship between waves "one" and "five". In this case wave "1" is .50 of wave "5". Daily RSI has not reached the oversold zone below 30%. Most likely significant support is near a .618 retracement of the September to February rally which is also close to...
On 02/17/23 the SPX may have made a four month cycle bottom. Three of the last four cycles have been effective in identifying the start of the next up trend.
The SPX could be in the late stage of a Cup with Handle pattern. If so a move above 4195 could trigger a rally to 4400.
There was a 4 - week cycle due on 02/16/23. Price bottomed on 02/13/23. The strong move up today implies a botom before the cycle low. The rally is likely to continue until the end of February.
There's an approximately a 28 - day cycle due to bottom on 02/16/23. BTCUSD is nearing a Fibonacci .382 retracement of the 11/21/22 to 02/01/23 rally. The retracement is near 20,915 which is in the area of chart support. A significant bottom could form on or near 02/16/23.
The U.S Dollar appears to be in the early part of what could be a multi- month bull market. Weekly RSI reached the oversold zone below 30% and has crossed above its moving average line, a bullish signal. Weekly Stochastic also reached its oversold zone and has a bullish lines crossover. Minimum upside target is at a .382 retracement of its multi-month decline. A...
On 02/03/23 the SPX bottomed in the area of two Fibonacci support points. The primary Fib at 4122.67, the secondary Fib at 4126.80. Additionally the 15 - minute MACD - HIstogram has a bullish divergence, and RSI has crossed above its moving average line. A move below 4105 could open the door for more downside action. Mark
A "Rule of the Majority" (RM) signal occurs when one of the three main U.S stock indices; S&P 500 (SPX), Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC) makes a new high or low unaccompanied by the other two indices. The signals occur at major, intermediate and sometime short-term market turns. Because of the difused nature of stock market tops,...
This is a Golden Alert! Today the SPX 50 - day moving average moved above SPX 200 - day moving average, called a Golden Cross. Why is this so important? This event has only happened 11 times since December 1998, thats about 1 signal every two years. The shortest signal happened in December 2015 and lasted about 1 week before the next bear phase began. The next...
In the next few trading days the SPX - 50 - day moving average line could cross above its 200 - day moving average line - known as a Golden Cross. Since 1998 there have been only 11 SPX - Golden Cross signals. Some of these signals have been the prelude to 6 months or longer SPX bull market phases.
Measuring VIX with RSI gives effective signals for primary and intermediate S&P 500 (SPX) tops. There are two factors to generate an SPX top signal. 1) Daily VIX breaking above its declining trendline. 2) Daily VIX – RSI breaking above its moving average line. There’s a third factor in discovering primary SPX tops. Primary SPX tops usually occur with the daily...
The SPX has rallied to short - term resitance at the .618 Fibonacci retracement of the 12/13/22 to 12/22/22 decline. Both 15- minute RSI and MACD have bearish divergences. There's a good chance the U.S - CPI report due out on 1/12/23 could trigger a multi - day decline. Mark
My prior noted a potential Elliott wave - Horizontal Triangle had completed and that the SPX could thrut down on 01/06/23. The big money traders had other plans and pushed the SPX up invalidating the presumed Horizontal Triangle. It apprears the SPX had a Double Zigzag truncated bottom on 12/28/22. The upward trend has resumed and the SPX could soon be...
The SPX appears to have completed an Elliott wave - Horizontal Triangle. If so it could thrust down on the release of the December U.S Employment report due out at 8:30 AM - ET on 01/06/23. Target zone for a potential bottom is in the zone of 3725 to 3680. Mark
Since October 2022 RIO has out performed the SPX rally and appears to be in a developing Elliott wave Impulse pattern. The December 2022 RSI reading was the highest since the rally began. Usually there's at least one RSI bearish divergence at significant peaks. This implies in the near - term more upside action. If RIO can move above its top at 73.35, there's...