Mark Rivest

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!”

Dow Jones Industrial Average – Bearish Warning

A review of the three main U.S. stock indices; Dow Jones Industrial Average (DJI), S&P 500 (SPX), and Nasdaq Composite (IXIC) reveals shockingly bearish evidence. The 15 – minute DJI, SPX, and IXIC chart courtesy of Trading View illustrates their relationship. Guess which of these indexes does not include Nvidia Corporation (NVDA)? If you pickedContinue reading “Dow Jones Industrial Average – Bearish Warning”

Nvidia Nears Major Resistance at 1,157

The 03/16/24 blog “Nvidia – Long – Term Elliott Wave Count” illustrated that Nvidia Corporation (NVDA) was in a developing extended Elliott Impulse wave from its November 2008 bottom. Additionally, NVDA had major Fibonacci resistance at 1,157.70. On 05/24/24 NVDA ended the main trading session at 1,064.69. The monthly NVDA chart courtesy of TradingContinue reading “Nvidia Nears Major Resistance at 1,157”

A One – Stock Market?

After the main U.S. stock session on 05/22/24 Nvidia Corporation (NVDA) announced a great earnings report and a ten for one stock split. The news triggered a large rally in U.S. overnight stock futures. When the main stock session opened on 05/23/24 the three main U.S. stock indices and the Russell 2000 were up fromContinue reading ” A One – Stock Market?”

Major Bearish Signal for U.S. Stocks – 05/22/24.

Today, 05/22/24 the Nasdaq Composite (IXIC) made a new all-time high unaccompanied by the other two main U.S. stock indices. This combined with the S&P 500 (SPX) inability to break above major Fibonacci resistance, could signal a bear move lasting into at least early 2025. When one of the main U.S. stock indices; Dow JonesContinue reading “Major Bearish Signal for U.S. Stocks – 05/22/24.”