Mark Rivest

Two Characteristics of a High Probability Winning Trade

One market currently has two factors that strongly imply at least a one-month bull run. That market is Soybeans. Most of the information about the current Soybean bullish set up comes from a recent interview with the legendary trader, author, and market analyst Larry Williams. The weekly continuous Soybean chart courtesy of Barchart.com illustrates theContinue reading “Two Characteristics of a High Probability Winning Trade”

Russell 2000 – at Resistance

Elliott wave patterns along with Fibonacci and chart resistance, suggest the Russell 2000 (RUT) rally may have ended. The weekly RUT chart courtesy of Trading View illustrates its long-term Elliott wave count. After its all-time high in mid-November 2021 there was a choppy bear phase that terminated in mid- June 2022. Subsequent to that bottomContinue reading ” Russell 2000 – at Resistance”

Bearish Rule of the Majority Signal – 03/28/24

On 03/28/24 of the three main U.S. stock indices only the S&P 500 (SPX) made a new all-time high. The daily SPX, Dow Jones Industrial Average (DJI), and Nasdaq Composite (IXIC) chart courtesy of Trading View illustrates their relationship. When only one of the three main U.S. stock indices makes a new/high unconfirmed by theContinue reading “Bearish Rule of the Majority Signal – 03/28/24”

S&P 500 Intraday Elliott Wave Count – 03/27/24

The 15 – minute SPX chart courtesy of Trading View updates the action. In Motive patterns the largest wave “four” Fibonacci retrace of wave “three” is usually .618. On 03/26/24 the SPX bottomed out just below this important support level. Also note the size of the presumed Minute wave “iv” is much larger in timeContinue reading “S&P 500 Intraday Elliott Wave Count – 03/27/24”

Major Fibonacci Time Cycles

Shortly after R.N Elliott discovered the “Wave Theory” he also found that markets can occasionally have time movements measured by the Fibonacci sequence. The Fibonacci sequence is as follows ( 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, to infinity). It’s possible the S&P 500 (SPX) could have a major FibonacciContinue reading “Major Fibonacci Time Cycles”

March 25, 2024 – Day of Decision?

This websites prior blog noted. “If on 03/22/24 the SPX moves below the 03/21/24 low – it increases the chance that a very important top may have been made at the 03/21/24 high.” On 03/22/24 the S&P 500 (SPX) did move below its 03/21/24 low. The 5 – minute SPX courtesy of Trading View showsContinue reading ” March 25, 2024 – Day of Decision?”

S&P 500 Reaches Resistance Zone- 03/21/24

The post U.S. – FOMC rally has brought the S&P 500 (SPX) to a potentially very important resistance zone. The daily SPX chart courtesy of BigCharts.com shows the big picture. Today the SPX came close to hitting the rising trendline connecting the peaks of Minor waves “1” and “3” of the rally from the 10/27/23Continue reading “S&P 500 Reaches Resistance Zone- 03/21/24”

Thrusting Towards Resistance

In two or three trading days the S&P 500 (SPX) could reach important resistance. This websites 03/18/24 blog noted. “It’s possible the presumed Horizontal Triangle could be complete at the 03/18/24 low. More likely the SPX could trend down until sometime before the U.S. FOMC announcement due 2:00 PM – EDT on 03/20/24.” Also illustratedContinue reading “Thrusting Towards Resistance”

S&P 500 – Intraday Elliott Wave Count – 03/18/24

This websites prior blog noted that the S&P 500 (SPX) could break below the 03/11/24 low and bottom in the 5,069 to 5,081 area. Also noted was that an Elliott wave – Horizontal Triangle was an alternate wave count. Today’s opening rally has made the Horizontal Triangle the prime wave count. The 30 – minuteContinue reading “S&P 500 – Intraday Elliott Wave Count – 03/18/24”

Short- Term S&P 500 – Elliott Wave Count – 03/15/24

The 03/13/24 blog “S&P 500 – Elliott Wave Pattern From October 2023” illustrated that the S&P 500 (SPX) may have completed a Minor wave “4” decline on 03/11/24. Subsequent action suggests Minor wave “4” could still be developing. The 30-minute SPX chart courtesy of Trading View illustrates the action since late 2023. Within five –Continue reading “Short- Term S&P 500 – Elliott Wave Count – 03/15/24”