Within an Elliott five-wave impulse pattern there's usually a Fibonacci price/time relationship between waves "one" and "five"
The growth rate of the Dow Jones Industrial Average (DJI) Primary wave "5" is 1.236 of Primary wave "1".
Within the time dimension there's a near bullseye hit. Primary wave "1" was 286 trading days. Primary wave "5" was 285 trading days. The DJI all-time highs was on 05/10/21 there was a new moon on 05/11/21, occasionally stock markets peak on or near new moons. Additionally, late April early May is the start of a seasonally bearish zone that could continue into October.
Subsequently the S&P 500 (SPX) made a new all-time high on 06/15/21. This high was unconfirmed by either the DJI or the Nasdaq Composite (IXIC). Whenever only one of the three main US indices makes a new high/low unconfirmed by the other two indices, it is a potentially powerful momentum divergence. In this case the SPX
solo high on 06/15 is an addition bearish signal.
Weekly MACD has the most significant bearish lines crossover since February 2020. MACD Histogram has bearish divergences.
The evidence presented in this post is only the tip of the iceberg. There's a massive amount of additional bearish evidence documented in my other writings.
All traders need to beware - there's a very high probability US stocks have entered a bear market.
Mark
The growth rate of the Dow Jones Industrial Average (DJI) Primary wave "5" is 1.236 of Primary wave "1".
Within the time dimension there's a near bullseye hit. Primary wave "1" was 286 trading days. Primary wave "5" was 285 trading days. The DJI all-time highs was on 05/10/21 there was a new moon on 05/11/21, occasionally stock markets peak on or near new moons. Additionally, late April early May is the start of a seasonally bearish zone that could continue into October.
Subsequently the S&P 500 (SPX) made a new all-time high on 06/15/21. This high was unconfirmed by either the DJI or the Nasdaq Composite (IXIC). Whenever only one of the three main US indices makes a new high/low unconfirmed by the other two indices, it is a potentially powerful momentum divergence. In this case the SPX
solo high on 06/15 is an addition bearish signal.
Weekly MACD has the most significant bearish lines crossover since February 2020. MACD Histogram has bearish divergences.
The evidence presented in this post is only the tip of the iceberg. There's a massive amount of additional bearish evidence documented in my other writings.
All traders need to beware - there's a very high probability US stocks have entered a bear market.
Mark