Mark Rivest

VIX Topping Signal

Momentum for U.S. stocks continues to be bearish. On 06/08/23 the S&P 500 (SPX) ended the session up .62, the Dow Jones Industrial Average climbed .50%, Nasdaq Composite was up 1.02%. Yet, through most of the day there were more stocks declining than advancing. There’s a good chance U.S. stocks could soon decline. However, actionContinue reading “VIX Topping Signal”

Leader and Laggard

Today 06/07/23 the Russell 2000 (RUT) composed of small – cap stocks continued the upward surge that began 05/31/23. The daily RUT chart courtesy of Trading View shows its recent movements. On 06/07/23 the RUT increased 1.78%. The 06/07/23 performance of the three main U.S. stock indices is as follows. Dow Jones Industrial Average +.27%.Continue reading “Leader and Laggard”

Bull Market Rally vs. Bear Market Rally

In bull market rallies stock indices trend together. Making new highs at about the same time and declining together. Moves up during large bear markets tend to be more erratic. A comparison of the post October 2022 U.S. stock market rally with a prior bullish phase reveals some interesting insights. The U.S. stock rally thatContinue reading “Bull Market Rally vs. Bear Market Rally”

Bullish Resuscitation

For more than a month the U.S. stock market momentum has been weakening. As the market climbed it seemed to be gasping and wheezing as fewer stocks participated with each uptick. Death of the rally appeared imminent. Then on 06/02/23 the U.S. May Payroll report showed the economy was stronger than expected – theContinue reading “Bullish Resuscitation”

Divergences Continue – 06/01/23.

Today 06/01/23 the S&P 500 (SPX) made a new post October 2022 rally high unaccompanied by either the Dow Jones Industrial Average, or the Nasdaq Composite. A bearish “Rule of the majority signal. Additionally, the VIX low today was 15.58 vs. its 05/01/23 reading of 15.53. This higher VIX bottom retains the VIX topping signal.Continue reading “Divergences Continue – 06/01/23.”

Philippines Stock Exchange – Break Below Important Support

The Philippines Stock Exchange Index (PSEI) broke below a short-term rising trendline and the 05/26/23 bottom at 6,496.47. This low is also close to a Fibonacci .618 retracement of the 03/16/23 to 05/08/23 rally. The daily PSEI chart courtesy of Trading View updates the action. The break of support implies a short – term moveContinue reading “Philippines Stock Exchange – Break Below Important Support”

Outrageous Bearish Divergences – 05/26/23

On 05/26/23 the Nasdaq Composite (IXIC) was the only one of the three main U.S. stock indices to make a new post October 2022 rally high. The S&P 500 (SPX) 05/26/23 high was 4,212.87, its 05/19/23 post October 2023 rally high was 4,212.91 a difference of only 4 – ticks! This is an example ofContinue reading ” Outrageous Bearish Divergences – 05/26/23″

Philippines Stock Exchange Important Support Levels

The Philippines Stock Exchange Index (PSEI) is nearing two support levels. A break below both these levels could open the door to a multi-month decline. The daily PSEI and S&P 500 (SPX) courtesy of Trading View illustrates their recent action. In the last few weeks, it appeared the PSEI could rally into Fibonacci resistance atContinue reading “Philippines Stock Exchange Important Support Levels”

This Could be the Start of Something Big

The something big could be a multi – month decline to at least the S&P 500 (SPX) October 2022 bottom. The SPX 15 –minute chart courtesy of Trading View examines the short – term picture. The SPX drop from its 05/19/23 top appears to be a developing Elliott impulse wave and today, 05/24/23 broke belowContinue reading “This Could be the Start of Something Big”

More Bearish Evidence

On 05/18/23 the S&P 500 (SPX) made a new post October 2022 rally high and invalidated a bearish “Rule of the majority” signal. Today 05/22/23 the Nasdaq Composite (IXIC) was the only one of the three main U.S. stock indices to make a new post October 2022 rally high. A bearish rule of majority signal.Continue reading “More Bearish Evidence”