Will stocks or bonds stumble first?
One of them is likely to recover its footing
S&P 500 Monthly/Weekly Update
Quite a week in the equity indices last week. Is the end upon us? As you know, my view is no, that we have been expecting a wave (iii) high in the advance up from early 2016 and now should be forming a several month corrective pattern for wave (iv) before an eventual top that should end both the advance from 2016 but also the rise form the 2009 low.
Handy charts — gaps up in indices, Bradley siderograph
Here's a quick reference for Bradley siderograph inflection dates and gaps up in the Dow and SPX
Gaps in SPX, Dow — a reference
Here’s a compilation of the open gaps in the S&P 500 and the Dow 30 since last September.
S&P 500 (SPX) Update
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...
S&P 500 (SPX) Update
There was an error in support values in the morning chart. Decided to make a separate post instead of replacing the previous one. The theme is the same. A new low improves the form but if they begin...
S&P 500 (SPX) 2017-03-26
When you step back and look at the large structure, you can see a broad five wave move up from the 2009 low. That should mean we are in the last phase of the advance though this last leg, the one up...