Author Archives: Mark Rivest

S&P 500 and Russell 2000 – Important Support Zones

The Volume Profile method identifies potential support for the S&P 500 and the Russell 2000. Volume profile places volume on a vertical axis and identifies support/resistances areas. The wideset volume cluster is called Point of Control (POC)  which represents the strongest potential support/resistance.   Price is drawn to or is repelled by POC. The first dailyContinue reading “S&P 500 and Russell 2000 – Important Support Zones”

Nasdaq Composite Bearish Breakthrough

The 04/15/24 Nasdaq Composite (IXIC) break below two important support levels opens the door for a move down to the January 2024 bottom. This sites 04/13/24 blog illustrated that the IXIC may have completed a bullish Horizontal Triangle and the IXIC could make a new all-time high.  The IXIC gapped up on the 04/15/24 openContinue reading “Nasdaq Composite Bearish Breakthrough”

Russell 2000 – Short – Term Elliott Wave Pattern – 04/12/24

The intraday Russell 2000 (RUT) Elliott wave count implies more downside action. Since their late March 2024 peaks to their respective lows  the three main U.S. stock indices have declined as follows. Nasdaq Composite down 2.9%. S&P 500 down 3%. Dow Jones Industrial Average down 5%. Looking beyond the three main U.S. stock indices, theContinue reading “Russell 2000 – Short – Term Elliott Wave Pattern – 04/12/24”

Nasdaq Composite Could Make a New All-Time High – Part Two

The Nasdaq Composite (IXIC) struggles to go down.   On 04/12/24 the S&P 500, Dow Jones Industrial Average, and the Russell 2000 made new decline lows.  The IXIC not only held above its 04/04/24 bottom, but it also failed to go below the  bottom made on 04/10/24. The 30-minute IXIC chart courtesy of Trading View illustratesContinue reading “Nasdaq Composite Could Make a New All-Time High – Part Two”

Nasdaq Composite Could Make a New All-Time High

On 04/12/24 the Nasdaq Composite (IXIC) could make a new all-time high. The 30-minute IXIC chart courtesy of Trading View illustrates the action. From its 03/08/24 peak the IXIC appears to have formed an Elliott wave – Horizontal Triangle.  Fibonacci price relationships support this theory. Minute wave “c” is close to equality with Minute waveContinue reading “Nasdaq Composite Could Make a New All-Time High”

Russell 2000 – Leading the Way Down

The Russell 2000 (RUT) small cap stock index has declined 5.5%  since its 03/28/24 peak. From its 03/21/24 top  the Dow Jones Industrial Average has fallen close to 4%. The Nasdaq Composite from 03/21/24 to 04/10/24 is down 2.3%. The S&P 500 from its 03/28/24 top has declined 2.4%. The daily RUT chart courtesy ofContinue reading “Russell 2000 – Leading the Way Down”

 Seasonal Patterns of the S&P 500

What happens in April could determine the course of U.S. stocks for the remainder of 2024. Most perhaps all markets have seasonal tendencies.   Sometimes the most powerful signals can occur when a  market moves counter to its seasonal pattern. The monthly 2007 to 2009 – S&P 500 (SPX) chart courtesy of Trading View illustrates aContinue reading ” Seasonal Patterns of the S&P 500″

  Short-Term S&P 500 – Downside Projection

Intraday S&P 500 (SPX) Elliott wave  patterns and Fibonacci analysis imply more downside action. The 5 – minute SPX chart courtesy of Trading View illustrates what’s happened since its all-time high. The decline from the SPX 03/28/24 peak appears to be a series of “one’s” and “two’s”.   In down trending markets this is one ofContinue reading ”  Short-Term S&P 500 – Downside Projection”

Quarter Turn – Stock Market Turn

The start of the 2024 second quarter has seen declines in the U.S. and other national stock markets.  The 03/24/24 blog “Major Fibonacci Time Cycles” illustrated an S&P 500 (SPX)   turn in  March 2024 using Fibonacci sequence numbers.   The SPX all-time high came on 03/28/24.  If the March 2024 SPX high holds it could beContinue reading “Quarter Turn – Stock Market Turn”