Mark Rivest

Russell 2000 – Long -Term Elliott Wave Count – 07/12/24.

The recent Russell 2000 (RUT) upsurge could soon end. The weekly RUT chart courtesy of Trading View illustrates the long-term Elliott wave count. The best Elliott wave count for the November 2021 to October 2023 decline is a Single Zigzag corrective pattern. Note that the mid portion of the bear market labeled Intermediate wave (B)Continue reading “Russell 2000 – Long -Term Elliott Wave Count – 07/12/24.”

Bargain Hunting

In the early 1960’s the late great market analyst Richard Russell wrote about a phenomenon that occurs near the end of stock bull markets. The phenomenon is an upward surge of small cap stocks. As a stock bull market develops many stocks are in extended rallies, making it difficult to find new stocks to buy. Continue reading “Bargain Hunting”

In the Zone and Overbought

The 07/08/24 blog “Major S&P 500 – Fibonacci Resistance” noted long – term resistance at 5,615.63. On 07/11/24 the S&P 500 (SPX) high was 5,642.45 within leeway of the bullseye target. The weekly SPX chart courtesy of Trading View illustrates the long-term action. The bullseye target of 5,615.63 was calculated by taking a Fibonacci .382Continue reading ” In the Zone and Overbought”

Major S&P 500 – Fibonacci Resistance

This is big! This websites prior post noted that the S&P 500 (SPX) was not near any long-term Fibonacci resistance. This analysis was based on the long -term SPX wave count from the March 2009 bottom. The SPX rally from March 2009 to April 2010 was presumed to be Primary wave [1] of a multiContinue reading “Major S&P 500 – Fibonacci Resistance”

S&P 500 – Long – Term Alternate Elliott Wave Count -07/05/24

The most likely Elliott wave count for the S&P 500 (SPX) since the January 2022 peak is that an Expanding Flat correction could be forming. In this count the first wave “A” is a corrective pattern. The second wave “B” is also a corrective pattern and exceeds the point of origin of the first wave. Continue reading “S&P 500 – Long – Term Alternate Elliott Wave Count -07/05/24”

Stock Market Participation Could be the Weakest in U.S. History

On 07/05/24 the S&P 500 (SPX) rallied .55% and made a new all-time high. The Nasdaq Composite (IXIC) rallied .90% and made a new all-time high. On the same day only 35% of NYSE stocks advanced while 63% of stocks declined. The Nasdaq had 43% of stocks advance vs. 54% decline. Not the first instanceContinue reading “Stock Market Participation Could be the Weakest in U.S. History”

Ninja Trader Interview

Ninja Trader where I get my Futures quotes has livestream programing throughout the trading day. The programs are about trading and the markets. One of the programs have recently had contests. In April and May they had held – guessing the close of the S&P 500 E- Mini two days before the actual closes. TheContinue reading “Ninja Trader Interview”

Gold – Point & Figure Analysis – 06/28/24

The 06/02/24 blog “Gold Nearing Important Support – 05/31/24” used Point & Figure analysis to determine important support was made at the 05/03/24 bottom. Subsequently a secondary support area was made, the key date is 06/07/24. A break below the 06/07/24 bottom could herald the coming of a bigger break at the 05/03/24 bottom. TheContinue reading “Gold – Point & Figure Analysis – 06/28/24”

Another Key Reversal Day

On the Summer Solstice 06/20/24 the Nasdaq Composite (IXIC) had a key reversal day as it made an all-time high. That top did not hold and on 06/28/24 the IXIC made another all-time high key reversal, this time accompanied by the S&P 500 (SPX). The daily SPX chart courtesy of Trading View illustrates the actionContinue reading “Another Key Reversal Day”

S&P 500 – Bullish Sentiment Extreme – 06/21/24.

Sentiment indicators measure trader/investor belief in market/ stock direction. They are generally viewed as contrary indicators. Extreme high bullish sentiment relates to tops, extreme low bullish sentiment with bottoms. Polling market participants is one way to measure sentiment. Market Vane Corporation – Bullish Consensus measures futures market sentiment by following the trading recommendations ofContinue reading “S&P 500 – Bullish Sentiment Extreme – 06/21/24.”