Below is the S&P hourly Renko chart. It looks very similar to the pattern occurred between 3/11/2021 and 3/15/2021. Is it building a W or an M?
Dramatically, S&P 500 led the way on Friday and closed 1.66% higher. In fact, yesterday’s close was a all-time-high close at 3974.54; 0.42 points higher than the close, 3974.12, on 3/17/2021. The Parabolic SAR indicator is currently at 3981.28. It is very likely the trend will change again and become bullish on Monday, unless the… Continue reading S&P 500 Daily Chart & the Parabolic SAR Analysis 3/27/2021 – Decidedly Moved Higher Again
S&P 500 could not have closed at a better spot. It closed right on the uptrend trendline. 3889, the closing price vs 3885, the Parabolic SAR. What’s going to happen next?
Overview SP 500 continued to climb upwards. The uptrend trendline extending from 2191 to 3233 provided a solid support today. What’s Next One thing to note is the Parabolic SAR indicator is currently at 3857. The index is currently at 3942. Tomorrow, the Parabolic SAR will probably be at 3870 or so. If the index is… Continue reading Uptrend Trendline Held Could Propel SP 500 Higher
The uptrend trendline is not broken. The index closed just above it. The weekly chart tells the same story. It could be a big week next week.
Yesterday’s sharp down turn brought the index and the Parabolic SAR indicator within the 100-point range, 3820 vs 3915. Earlier this week, I suspected the index would fluctuate within the 3900 range and allow the Parabolic SAR to play the catch up. We should see what today brings. The index continues to remain above the… Continue reading S&P 500 Daily and Weekly Charts – Parabolic SAR at 3820 and Index Remains above Uptrend Trendline
Just as expected, the indexes all closed higher today. In the daily chart below, the SAR is currently at 3760. That is about 200 points away from today’s close. The current trend will continue. My guess is we might begin to see a top when the Parabolic SAR rises to 3850 and closes in on… Continue reading S&P 500 Daily and Weekly – The Bullish Momentum Continued
How far up can S&P 500 go this time? This is the daily chart. S&P 500 touched 3900 but did not manage to close above it on 3/9/2021; however the Parabolic SAR indicator turned bullish on that day. The question is whether the current uptrend will look like A in the chart or B. Nonetheless,… Continue reading S&P 500 Parabolic SAR Turned Bullish Again
What if the starting point was the week of12/24/2018 when the index hit the low of 2346.58. The Fibonacci projected the 100% high at 3336. The actual high was 3394, a 58-point difference or 1.7% shy. That’s pretty close. Then, COVID-19 hit unexpectedly. What if there were no COVID-19? The market would have continued its… Continue reading What If S&P 500 Was Extending Its Uptrend from the week of 12/24/2018 Low
This is the DJIA weekly chart. I did a Fibonacci extension projection from the 3/23/2020 low. Interestingly, it projected a high of 32168 at the 161.8% level. Let’s see if I did this right. This is a weekly chart so it is not over yet. Today, it hit the all time high of 32150.