Market Update Archive


This page features Intelligent Investing’s daily updates of the US stock market, mostly focused on the S&P500, made public three to four days after being sent out to Premium Members. To become a Premium Member, please subscribe here. Subscriptions include coverage of most US indices, commodities, and many individual stocks.

Daily update 06/15/2017Today the market threw a curve ball, but as said yesterday “A break below SPX2416 without making new highs first jeopardizes the Bull count.” Today SPX2416 held, and we may in fact be dealing with (another) flat correction: minor-4 (SPX2416-2444-2418).

Daily update 06/14/2017: Volatile day today due to FOMC meeting minutes and Yellen speech. However, in the end the S&P500 managed to find support in the noise box zone on the 1 min chart (SPX2428-2436) and close 2p above it.

Daily update 06/13/2017: Since yesterday was a flat, overlapping, inside day the next direction was hard to forecast and an update was not necessary. Today’s price action on the other hand cleared things up and an update is warranted. Namely, price on the S&P500 broke above Friday’s intra-day bounce high of SPX2432, and also moved back above the “noise box”: see Figure 1

Daily update 06/08/2017: Today the S&P500 provided us with a false breakout: it rallied over SPX2336 to SPX2439 only to drop back to that pesky SPX2428 level and inside the noise zone. This tells us we most likely have a flat-correction under way, which is rather typical for a 4th wave

Daily update 06/07/2017 : Today’s update can be short and sweet, as price again ended flat and because tomorrow we’ll have the ECB meeting, Comey testimony, and UK elections, which should bring more clarity to the current mess we’re dealing with.

Daily update 06/06/2017: Yesterday I showed that a break below SPX2435 would target SPX2430 based on symmetry. Today we got SPX2428.12. Not shabby. This made it the next quantifiable wave as the decline is now 12p. As such micro-3 is likely in at SPX2440; 5p short of my ideal target.

Daily update 06/05/2017: Very little to add to this weekend update. The 1 minute chart below shows price has been stuck in a 5p range the past 1.5 trading sessions (SPX2440-2435) and a break out targets –based on symmetry- SPX2445 (our ideal micro-3 of minute-iii of minor-3) target, whereas a breakdown targets SPX2430.

Daily update 06/01/2017: Today the market rallied to new ATHs and my preferred count keeps tracking the market the best: I see no more reason to believe this is a b-wave up as it acts too impulsively. Nano-v of micro-3 of minute-iii of minor-3 of intermediate-v is now confirmed and reached our ideal SPX2428 +/-2p target today