Mark Rivest

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”

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”