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 can...
Last week’s wild gyration in the index created some ambiguity as to which direction it wants to take over the short-term. A week ago, the indicators suggested that a little more strength could take place, but it was short-lived and was...
SPX is in a short, sideways trend from which it could emerge in either direction. The daily indicators give it a bullish bias, but the hourly suggest that there could be a little more consolidation/correction. In any case, the 2085 level...
On Friday the 13th, SPX closed at a strong support level which was also the anticipated projection for that move. It’s interesting to note that the price target of 2022, which had been determined strictly by technical analysis, withstood...
In the past week, the market correction has greatly accelerated. It is not yet time to dismiss the present rally’s capability to make a new bull market high; but if the current trend continues, the projected primary wave V structure may...
A week ago, it looked as if SPX was ready for a minor correction. This took place this past week with the index dropping 33 points. It is not clear if the correction is over or if, with Friday’s bounce, the index is preparing for another...
Last week SPX gave plenty of evidence that it was topping, at least on a near-term basis. Since it fell a few points short of its projection for this move, it is not entirely clear if it has failed to reach it, or if it will make another...
SPX showed that it had enough remaining strength to shoot for its “extreme” count of 2040. That level is fast approaching and could be reached as early as Monday. What the index does after meeting this target will show its true colors....
SPX is at an important juncture. After holding support at 1872, it has quickly run up to the level of the August rally peak. To convince us that this show of strength is something more than a typical bear market rally, it must continue...
Last week SPX broke the two minor support levels mentioned, but was stopped at the bottom of the primary channel…and subsequently bounced. This bounce also had to do with the completion of an apparent 5-wave pattern from 2020.