Most minor cycles scheduled to make their lows in this time frame have probably done so, but SPX has not yet shown a clear sign of wanting to resume its uptrend. If we cannot find buyers early next week, the correction is likely to be...
By moving above 3430 -- thereby overcoming an important resistance band which started at 3330 -- SPX has shown that it is no longer susceptible to a .382 retracement of the move from 2192. It is, however, susceptible to a minor correction...
SPX is likely about halfway through its correction and in a temporary uptrend which may already be over if it loses too much ground over the next couple of days -- even though cycles appear to be favorable to an extension of the mid-course...
SPX has found a short-term low after completing an a-b-c pattern and has started a countertrend rally. This is not yet an attempt at resuming the long-term uptrend, and a deeper correction is expected before this occurs. But there has...
SPX is still essentially basing until it gets above 3380. During this process, it must remain above 3330, or something else (to be determined) is taking place.
SPX is close to finding a low for this phase of the correction and this could happen next week. It is not clear at this time if this will be a resumption of the uptrend, or if more short-term downtrend lies ahead. The original thinking...
Last week SPX experienced a sharp decline which many analysts considered overdue, followed by a sharp retracement and another pullback into Friday’s close. It has been a while since the index has experienced this kind of volatility. It...
SPX has held steadily above its 60m chart trend line ever since it started its uptrend from 3350. DJIA and QQQ have held above similar trend lines as well. It stands to reason that a break of these trend lines would start corrections in...
Signs that SPX is ready to correct are increasing. The first cycle to make its low could only take it down 45 points before it rebounded to a fractional new all-time high of 3399.96. The next cycle is ready to trigger the next correction...
SPX is on the verge of a correction for the reasons given above. Afterwards, it should be ready to make another all-time high, perhaps by a good margin. At least, this is what various methodologies suggest. Primary among these is the...