Mark Rivest

The Incredible Shrinking U.S. Stock Market

On 06/12/24 the S&P 500 (SPX) and the Nasdaq Composite(IXIC) made new all-time highs. How can the U.S. stock market be shrinking? The answer is illustrated in the Nasdaq new highs chart courtesy of Barchart.com. The process of shrinking – 52 – week highs has been underway for several months. Note that at each lowerContinue reading “The Incredible Shrinking U.S. Stock Market”

Long – Term S&P 500 – Fibonacci Price and Time Relationships -06/07/24

The 05/16/24 blog “Updated S&P 500 – Elliott Wave Count – 05/16/24” illustrated that the S&P 500 (SPX) could be forming an Elliott wave – Expanding Flat correction from the January 2022 peak. This is still the most likely wave count; however, the peak of the presumed Primary wave [B] has exceeded its main targetContinue reading “Long – Term S&P 500 – Fibonacci Price and Time Relationships -06/07/24”

Into the Lunar Time Zone – Part Two – 06/07/24

The S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs on the 06/06/24 New Moon. On 06/07/24 only the SPX made a new all-time high – a bearish “Rule of the Majority” signal. A U.S. stock bear market continuing until at least early 2025 may have begun. A “Rule of the Majority” signalContinue reading “Into the Lunar Time Zone – Part Two – 06/07/24”

Into the Lunar Time Zone – 06/06/24

The S&P 500 (SPX) made a new all-time high on the date of a New Moon. An important turn could come soon. The prior blog “There’s a New Moon Rising” noted that sometimes markets could turn on a New/Full Moon plus or minus two trading days. The daily SPX chart courtesy of BigCharts.com illustrates bearishContinue reading “Into the Lunar Time Zone – 06/06/24”

There’s a New Moon Rising

Sometimes markets makes turns on Full/New Moons plus or minus two – trading days. These turns are more likely to occur after prolonged moves up or down when mass emotions peak. On 06/05/24 the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs. On 06/06/24 there’s a New Moon. The daily SPX chartContinue reading “There’s a New Moon Rising”

Gold Nearing Important Support – 05/31/24.

A break below Golds closest support could trigger a 10% decline. Point & Figure (PF) charts are very good at discovering potential support and resistance areas. The daily PF- Gold Continuous Contract ($GOLD) chart courtesy of StockCharts.com illustrates its action. Point & Figure charts consist of columns of X’s and O’s that represent filtered priceContinue reading “Gold Nearing Important Support – 05/31/24.”

Elliott Wave Analysis of the Main U.S. Stock Indices – 03/31/24.

Most U.S. stock indices appears to have made significant peaks. However, one main stock index could still make a new all-time high. The 30 – minute Nasdaq Composite (IXIC) chart courtesy of Trading View illustrates its short-term action. On 05/28/24 the IXIC made an all-time high unconfirmed by the Dow Jones Industrial Average (DJI) andContinue reading “Elliott Wave Analysis of the Main U.S. Stock Indices – 03/31/24.”

Nvidia Major Top Could be in Place – 05/30/24.

On 05/30/24 Nvidia Corporation (NVDA) high was 1,158.19. Major Fibonacci resistance illustrated in the 05/25/24 blog “Nvidia Nears Major Fibonacci Resistance at 1,157.00” was 1157.70. Today’s high was almost a bullseye hit. The daily NVDA chart courtesy of Trading View updates its action. NVDA then declined from 1,158.19 and closed below its 05/29/24 session low.Continue reading “Nvidia Major Top Could be in Place – 05/30/24.”

What Happened to Dow Jones Industrial Average – 40,000?

Just last week on 05/20/24 the Dow Jones Industrial Average (DJI) hit its all-time high of 40,0077. Since then, its fallen 4.17% losing more than 1,600 points. The DJI and Nvidia Corporation (NVDA) hourly chart courtesy of Treading View shows a shocking divergence. The DJI decline from 05/20/24 has the appearance of a developing Elliott-Continue reading “What Happened to Dow Jones Industrial Average – 40,000?”

All Eyes on Nvidia!

The daily Nvidia Corporation (NVDA) chart updates its action. On 05/28/24 NVDA made a new all-time high at 1,149.39 very close to major Fibonacci resistance at 1,157.70. It is also close to a rising trendline connecting the peaks made in October 2018 and November 2021. Please see the 05/25/24 blog “Nvidia Nears Major Resistance atContinue reading “All Eyes on Nvidia!”