In addition to the posts shown below, most Daily Update posts include a chart and forecast for the S&P 500 Index (SPX).
Here’s a compilation of the open gaps in the S&P 500 and the Dow 30 since last September.
Signs that this triangle pattern can break downward
The index can climb still higher after a modest correction
The theme from when I posted these remains the same from about a week ago. I just added the next steps up in the charts to keep an I on.
The Russell 2000 is in a similar position as most of the other major indices. Probably in wave (iii) of [v] up from the 2009 low. This implies one more down/up move before any serious correction sets in.
Counting an Elliott fourth wave in the upward progression
Price starting to test the area that could prompt a breakout from the decade-long converging range.
The fairly persistent rise up off the 2357 SPX low yesterday and lack of selling today opens the door to the low being of greater import than a mere first impulse down, that it may in fact...
I’ve taken a look at this sector ETF to see if it had any clues to wear we are in the broader stock indices. In general looks like the SPX. Either the expected near term high is the...
I include an intraday chart of one of the equity indices, usually SPX, in the morning day ahead post but am putting it here as a separate post as the best way to bring it to your attention. I had...