Mark Rivest

Bitcoin Breakthrough – 12/05/24

Today 12/05/24 Bitcoin in U.S. dollars (BTCUSD) reached 100,000! The daily chart courtesy of Trading View shows the action. BTCUSD went as high as 104,000 before reaching a peak. This is on the far side of the leeway around 100,000. This factor plus what appears to be an incomplete Elliott wave pattern opens the doorContinue reading “Bitcoin Breakthrough – 12/05/24”

U.S. Stock Market Theme – 2024

The theme for U.S. stocks in 2024 has been, main stock indices make new highs with bearish momentum. The indices have only minor declines, then the bearish momentum divergences are erased. On 011/29/24 two of the main U.S. stock indices, S&P 500 (SPX) and Dow Jones Industrial Average made new all – time highs withContinue reading “U.S. Stock Market Theme – 2024”

Bitcoin 100,000!

On 11/22/24 Bitcoin (BTCUSD) reached 99,860 close to a major round number 100,000. Could this number represent significant resistance? An examination of BTCUSD history reveals some fascinating data. The monthly BTCUSD chart courtesy of Trading View shows the long-term view since its inception in December 2014. Each of the three important BTCUSD peaks came closeContinue reading “Bitcoin 100,000!”

Dow Jones Industrial Average – Long – Term Elliott Wave Count – 11/22/24

The Dow Jones Industrial Average (DJI) could soon complete and an Elliott wave pattern that began in October 2022. The weekly DJI chart courtesy of Trading View illustrates the long – term action. The DJI could be in the final part of an extended Elliott Impulse wave that began in October 2022. For stocks theContinue reading “Dow Jones Industrial Average – Long – Term Elliott Wave Count – 11/22/24”

Nvidia Corporation – Long -Term Elliott Wave Count 11/21/24

On 11/20/24 Nvidia Corporation (NVDA) released their third quarter of 2024 financial results. They beat revenue expectations by 5.96%. On 11/21/24 NVDA reached a new all-time high and ended the session up by .78% from the prior session closing price. The weekly NVDA chart courtesy of Trading View illustrates the long -term Elliott wave count.Continue reading “Nvidia Corporation – Long -Term Elliott Wave Count 11/21/24”

U.S. Long – Term Interest Rates at Important Level

Trading action in the next few days could determine the direction of U.S. long – term interest rates for several weeks. The daily CBOE 10 – year Treasury Yield (TNX) chart courtesy of Trading View shows its progress since mid – 2023. TNX has moved marginally above the declining trendline connecting the October 2023 andContinue reading “U.S. Long – Term Interest Rates at Important Level”

Gold Sentiment – November 2024

Commitment of Traders (COT) can be used to discover significant peaks/bottoms for several markets. COT is not effective for all markets its most useful for commodities, Agriculture, Metals, and Energy. COT is not a precise timing tool, most times it identifies broad time frames where a turn could occur. The weekly Gold Futures chart courtesyContinue reading “Gold Sentiment – November 2024”

Gold – Elliott Wave Count – 11/14/24

Gold may have completed the first wave down of a multi-month decline. The daily Gold Futures Continuous contract courtesy of Trading View updates the action. The Gold bull market from the October 2022 bottom appears to have made a Primary degree peak on 10/31/24. October 2024 top had a double bearish RSI divergence, and theContinue reading “Gold – Elliott Wave Count – 11/14/24”

U.S. Stock Market Momentum and Sentiment – 11/08/24

The 10/13/24 blog “ U.S. Stock Market Momentum and Sentiment – 10/11/24” illustrated bearish evidence for both dimensions. One month later the situation for one of the dimensions dramatically changed. The NYSE 52 – week highs chart courtesy of Barchart.com shows internal momentum. In early October 2024 there was a double bearish divergence for NYSEContinue reading “U.S. Stock Market Momentum and Sentiment – 11/08/24”

Long – Term Elliott Wave Count for S&P 500 and Russell 2000

Comparison of the S&P 500 (SPX) and Russell 2000 (RUT) could provide clues to what may happen in 2025. The weekly SPX chart courtesy of Trading View illustrates the Elliott wave pattern from the October 2022 bottom. The post October 2022 bull market is a textbook extended Elliott wave Impulse pattern. This structure begins withContinue reading “Long – Term Elliott Wave Count for S&P 500 and Russell 2000”