Daily 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 five days after being sent out to Premium Members. To become a Premium Member, please subscribe here. Subscription includes access to one of the best, detailed, up-to-date technical analyses of most US indices, commodities, and many individual stocks you’ll find.

Daily update 06.14.2018: The NDX was up >1%, but only made a 30p (0.4%) new uptrend high to hit the $7291 mark to the T, while the DJIA ended down 0.10% and the S&P -as expected yesterday “end[ed] up being stuck in the middle.”- at +0.25%. The S&P has now been range bound between SPX2775-2790 all week. Often this resolves higher in the form of a bull-flag, which could target SPX2805: 2760->2790 = 30P. 2775+30 =-2805 (not shown here).

Daily update 06.13.2018: The FED delivered on its rate hike and will do a few more this year. Good for your savings 😊 The market reacted badly, as expected. That leaves us short term with increased odds of a minor-1 top (see Fig. 1A) as price came within 3.5p of the 1.764x extension (typical for a 5th wave) and in addition reached the nano-v = i extension (blue arrow).

Daily update 06.12.2018: Not much to add to yesterday’s update is we can still have minute-iii at SPX2790 and minute-iv underway or minute-v is already underway targeting SPX2795-2806. A break over SPX2790 means the latter is the case. A break below today’s low at SPX2779 means the former is the case.

Daily update 06.11.2018: When the last 4th and 5th waves of an advance start to wrap up, it always becomes a bit uncertain if there’s one more set of 4th and 5th left or not. Hence the saying “Don’t bank on the last 5th wave”. The preferred count has minute-iii of minor-1 of intermediate-iii at today’s SPX2790 high.

Daily update 06.07.2018: Today the S&P topped at SPX2780 and started its largest decline since the SPX2700 low: 20p. Hence, did minute-iii of minor-1 of intermediate-iii top, or was today’s high at the somewhat odd 150% Fib-extension nano-3 of micro-5. Yesterday I forecasted an y ideal target zone for nano-3 at “SPX2774-2777” and for nano-4 “SPX2663-2666”. Hence, the S&P went 3p above and below; respectively.

Daily update 06.06.2018: The preferred short-term impulse-based wave-count continues to track the market the best and I see therefore no reason to change it. micro-4 of minute-iii of minor-1 of intermediate-iii bottomed already at SPX2740 yesterday and today the market continued along a nice impulse, down to the nano waves.

Daily update 06.05.2018: The preferred short-term wave-count has price now in or already completed (orange) micro-4 of minute-iii of minor-1 of intermediate-iii. At SPX2753 price hit the ideal 100% extension for a 3rd of a 3rd wave, which means the (micro) 4th wave bottoms in the 76.4-61.8% target zone, after which the micro-5th wave targets the 138.2% extension at -in this case- SPX2773.

Daily update 06.04.2018: Albeit with today’s follow through price action “break higher over SPX2742” the Elliot Wave counts shown in the recent weekend update do remain the same, but of course with the continued focus and highest odds for the Bullish count: A) Major-4 triangle complete, minor-1 of intermediate-iii of major-5 underway: 50%……..