Posts Tagged ‘S&P 500 chart’

SP Weekly Chart Updated

SP Weekly Chart Updated

ponzi schemeCourtesy of Jesse’s Café Américain

Here is the chart we have been keeping through this decline and now into the bounce.

The bounce will end when it ends. It is a ‘false flag’ intended to spark a recovery in confidence and the economy. It is fueled by an enormous infusion of liquidity by the Treasury and Federal Reserve into a few favored banks, who are making the bulk of their newly found profits by trading.

The rally cannot be sustained without continuous printing of money. The difficulty with this tried and true monetary approach which has lifted the economy out of the last two bubble breaks is that the financial sector is closer to the heart of the credit bubble than tech or housing, which were just vehicles for the Ponzi scheme.

And the largesse is not being distributed evenly, as relative outsiders like Ken Lewis are finding out. "Not all animals are equal." And not all the pigs have purchased premier positions at the trough.

So, when will it end? On the charts, the area between 1060 and 1100 is likely, since it is in the area of a valid and confirmed neckline. But given the strength with which the SP has penetrated the prior resistance, one has to approach any forecast of an end to a rally like this with fear and trembling, and a generous portion of caution.

Still, our point is not to make a killing for the punters, but rather to help to illuminate the perfidy at the heart of the US financial system. It is truly amazing at how brazen it has become, especially under their token reformer.

The comments on this chart are those that had already been there. All that has been done is to update the chart from July, and to clean it up a bit for readability.

SP 500 Weekly

[click on chart for larger view]

 


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Daily S&P500 analysis using Ichimoku charts for August 18th 2009

Daily S&P500 analysis using Ichimoku charts for August 18th 2009

Courtesy of Larry at Ichimoku Charts 
 

 


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Large Scale Monthly Elliott Wave Chart of SP500

Large Scale Monthly Elliott Wave Chart of SP500

Courtesy of Corey at Afraid to Trade

Per multiple reader request, I’m providing the “bigger picture” backdrop against which to classify past and possibly future price structure in the S&P 500.  Let’s take a look at one of the most mainstream Elliott Wave counts and projections on the S&P 500 Index (monthly).

S&P 500 Chart
(Click for Larger Chart)

Many Elliotticians agree that we completed a large-scale Third Wave into the 2000 highs and that we are now in a 10-year Fourth Wave correction phase that began off the 2000 highs.

This Fourth Wave will (has) subdivide into a three-wave corrective phase as all fourth waves do.  Wave A was the move from 2000 – 2002; Wave B up was the bull market from 2003 – 2007.  We are now structurally in Wave C down.

To step it into more detail, Wave C subdivides into a Five-Wave sub-structure (fractal). We have already moved four waves of that expected five wave structure.

Technically, the entire move from 2000 to present has been an “Expanded Flat” where Wave B made a nominal high and Wave C is expected (has already) made a new low beneath the “A” Wave.

That is the historical count in which we trade and invest currently.  Wave C is much, much closer to its end than its beginning, but many Elliotticians agree that we have one more wave to the downside to finish-out the C wave before putting in a bottom and rallying off these levels – perhaps as low as 550 on the S&P 500 (an exact discussion on targeting is beyond the scope of this post).

With that being said, the rally from the March 2009 lows to present (if not even the November 2008 lows) has been a fractal Primary 4th Wave rally that targeted the 1,000 index level.

It now appears this rally is also coming to an end… if not has already ended already.

Whether or not we pop higher from here to challenge the 1,000 level, the future Elliott Wave pathway seems to call for one more swing down to test – at a minimum – the 666 lows from March (which would be a 5th wave truncation).  I get the sense that most seem to believe we will be breaking these lows.

Any Elliott Wave posts I do will be based on this…
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Zero Hedge

Greenlight: "In Q4, Our Longs Went Up Less Than The Market And Our Shorts Went Up More"

Courtesy of Zero Hedge. View original post here.

2019 was a very strange year for the market, one in which stocks were up almost 30% despite no earnings growth and only multiple expansion, and yet not a single popular strategy worked. As a result, it was also an extremely painful year for hedge funds who were up for the year, but once again failed to catch up to the risk-free benchmark, the S&P500, and in fact, this was the 10th consecutive year in which active management underperformed the cheapest possible market investment, the S&P500 itself (and explains why there was a record-matching 8 consecutive months of hedge fund outflows in ...



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Phil's Favorites

The Next Trillion Dollar Stocks: What Are Your Thoughts?

 

The Next Trillion Dollar Stocks: What Are Your Thoughts?

Courtesy of 

In this edition of What Are Your Thoughts, Michael Batnick and Josh Brown discuss:

* Gold vs Bitcoin, let the trolling begin!
* Google joins the Trillion Dollar Club, who’s next?
* Can Bill Simmons sell The Ringer podcast network for $200 million?
* Actively managed US stock mutual funds had a great year in 2019, but most still couldn’t catch the S&P 500. So what?
* Will direct indexing disrupt the ETF business?
* Warren Buffett’s preferred metric to gauge how exp...



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Kimble Charting Solutions

Hang Seng Index Double Topping At 2007 Highs?

Courtesy of Chris Kimble

Could the Hang Seng Index be “Double Topping” at its 2007 highs? Possible, yet not proven!

The Hang Seng Index attempted to break above its 2007 highs at (1), only to see a key reversal pattern take place the following month.

After the reversal pattern, the index has created a series of lower highs, just below falling resistance.

So far this month, the index is attempting to break above falling resistance, where it could be created a bearish reversal monthly pattern at (2).

What would it take to prove that a double top was i...



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Insider Scoop

Earnings Scheduled For January 21, 2020

Courtesy of Benzinga

Companies Reporting Before The Bell
  • Halliburton Company (NYSE: HAL) is projected to report quarterly earnings at $0.29 per share on revenue of $5.11 billion.
  • TAL Education Group (NYSE: TAL) is estimated to report quarterly earnings at $0.09 per share on revenue of $839.96 million.
  • Signature Bank (NASDAQ: ...


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The Technical Traders

Q4 Earnings Setup The Rally To The Peak

Courtesy of Technical Traders

Our research team believes the current Q4-2019 earnings season and expectations are prompting a “Rally To A Peak”.  We’ve been warning our followers and clients that we believe the US Stock Market has rallied to levels that constitute a “near peak enthusiasm” related to historical price volatility. 

As you’ll see from these charts, below, we are not dismissing this current upside rally and the potential that it could last for many weeks or months longer – we’re just warning our followers and clients that we believe a very volatile period or price rotation is setting up within the next 10 to 25+ days as prices reach the historical upper boundary. ...



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Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

Excerpted from David Brin's new book, the beginning of chapter 5, Polemical Judo: Memes...



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Chart School

SP500 Kitchin Cycle Review

Courtesy of Read the Ticker

The biggest known news date in the next 18 months is the US Election. The biggest unknown news date is when the US believes it is in a economic recession.

The Kitchin Cycle is still working.

We must conclude the major 900 period low is now in, and we are now in a up swing, which may top out ate 2020 or late 2021. Any future top out may only generate a 10% to 20% correction, of course this can be deemed very mild. This is expected, but the expected does always play out. 

Rolling the dice to get '7' does not always work. Post US elections seasonal's aligned with a poor start of the decade seasonal trends, add on high global recession risk, add on a stock market slump tends to occur in the years ending 9,1,2,3,4 (like 1973, 1...



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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

Reminder: We are available to chat with Members, comments are found below each post.

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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