Mark Rivest

Long-Term S&P 500 – Momentum – 07/25/24

Signals from weekly momentum indicators imply more downside action for the S&P 500 (SPX). The weekly SPX chart courtesy of Trading View shows the long – term action. Weekly Stochastic has a bearish line cross and the lower line has entered the neutral zone. RSI has moved below its moving average line and has alsoContinue reading “Long-Term S&P 500 – Momentum – 07/25/24”

Short- Term S&P 500 – Elliott Wave Analysis – 7/24/24

The easiest way to understand Elliott wave theory is to view markets or stocks in segments. Currently the most important S&P 500 (SPX) segment is the 04/19/24 to 07/16/24 rally. The consequences of the recent decline could provide directional clues for the remainder of 2024. The daily SPX chart courtesy of Trading View illustrates theContinue reading “Short- Term S&P 500 – Elliott Wave Analysis – 7/24/24”

Bearish Message from Gold and Silver

Recent action from Gold (XAUUSD) and Silver (XAGUSD) suggests they both may have begun multi – week declines. The 06/30/24 blog “Gold – Point & Figure Analysis – 06/28/24” illustrated that Gold had important support at 2,277.43. Subsequently Gold rallied and made a new all-time high. The weekly Gold (XAUUSD) chart courtesy of Trading ViewContinue reading “Bearish Message from Gold and Silver”

Examination of S&P 500 – July Tops

Since 1998 there have been seven significant S&P 500 (SPX) tops. What happened after these peaks could be a guide for the near future. Each of the seven peaks subsequently had declines greater than 7%. They are as follows: 1998 – 07/20/98 to 10/08/98 – decline 22.50%. 1999 – 07/19/99 to 10/18/99 – decline 13.40%.Continue reading ” Examination of S&P 500 – July Tops”

Comparisons of the S&P 500 in 2018 and 2024

In early 2018 the S&P 500 (SPX) had a blow off top. Mid-2024 could be a repeat of that spectacular peak. The daily SPX chart courtesy of Trading View shows what happened from late 2017 to early 2018. In the final 37 – trading days of the bull run – late 2017 to early 2018Continue reading “Comparisons of the S&P 500 in 2018 and 2024”

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”