SPX is correcting the decline from 2116 -- and has already fulfilled the minimum expectation by retracing a third of that downtrend. At this time, I would not bet that this is all we get, but it could be if it cannot get past 1947 before...
On Thursday, a decline which started at 1947 on the SPX broke the January 20 low of 1812 by a couple of points, and immediately reversed to finish on Friday’s close at 1864, with a 52-point bounce. Because of this being a potential double...
It looks as if SPX concluded its a-b-c correction in an uptrend when it reached 1947 early last week. Since then, it has retraced about 75 points down to the important 1868-1872 support zone which was formed by the August/September 2015...
It is now evident that SPX500 has altered its correction to an A-B-C pattern with the C wave currently in progress. Expectations are that the index should complete its upward correction over the next few days -- probably next week. A...
After an extended period of weakness during which it exceeded its August low, SPX finally found a temporary bottom and, after a climactic finish, started a counter-trend rally which looks just about complete. It’s now a question or...
Last week’s stock market action brought more confirmation to the view that it had started a major correction which some will label a bear market. The name that one gives it is not as important as being able to forecast correctly what will...
If we define the beginning of a bear market by the breaking of the long-term trend line which goes back to the start of the bull market, some indices have already done this and others are close. However, the penetration of that trend line...
The analysis of the weekly SPX chart gives us a better sense of what the index is doing. Taking into consideration the intermediate term cyclic climate, we could easily see an intermediate correction starting at the secondary high of 2116...
The SPX’s direction is still unclear -- and it will need a little more time to reveal itself. Another attempt at extending its uptrend appears to have resulted in a failure to make significant progress, indicating that another short term...
“At this point, the possibility that the bull market is over is just that: a possibility! But the market should not keep us guessing too long about whether or not this becomes a fact. Many credible economic and geopolitical arguments...