During November, the US stock markets experienced a continued price rally. As you can see in the chart below, the rally in the S&P 500 Index took on a similar pattern as it did back in the summer. PRIMARY TREND: RISING (but correcting) Chart courtesy of StockCharts.com Beginning [...]
Do you remember reading articles like the one below¹ earlier in the year? You will notice it was published on April 14th, 2022. On that day, Bitcoin was trading for approximately $40,000 per coin (down from the all-time high of $66,000 in November 2021). Fast forward to today [...]
During October, all three major US stock market indices – the Dow Jones Industrial Average, S&P 500 Index, and NASDAQ Composite – made new closing lows from their previous lows in June. Historically speaking, if all three of these indexes are making new lows together without making new highs, investors [...]
Hurricane Ian made landfall in Florida in recent weeks as a Category 4 storm, killing over 100 people and causing over $50 billion in anticipated financial losses. If I could identify one positive takeaway from this natural disaster it would be that the loss of life was limited considering the [...]
In my April 2022 update I introduced a new potential declining trend channel, identified by two downward sloping red-dashed lines. Over the next three weeks, the S&P broke down through the lower, red-dashed line as the stock market decline continued. Then, during the final week of May the market staged [...]
