On 03/04/24 the S&P 500 made an all-time high unconfirmed by the other two main U.S. stock indices, Dow Jones Industrial Average and the Nasdaq Composite. Perhaps this bearish divergence signaled a major top for the U.S. stock market. If not the Russell 2000 (RUT) small cap stock index could soon indicate a significant topContinue reading “Russell 2000 – Elliott Wave Count”
Author Archives: Mark Rivest
Apple Inc. Major Downside Break
On 03/01/24 Apple Inc. (AAPL) broke below important support and could soon drop to its October 2023 bottom. The daily AAPL chart courtesy of Trading View shows what happened. The 02/15/24 blog “Apple Inc. Downside Rollover” noted AAPL had a double bottom with the key point at 179.25. This level was pierced on 03/01/24 alongContinue reading “Apple Inc. Major Downside Break”
The Final Wave Up?
The S&P 500 (SPX) could be in the last part of a rally that began in October 2022. The 02/29/24 blog illustrated that an Elliott wave – Horizontal Triangle could be developing. Also noted – a low probability the Horizontal Triangle could already be complete. The 15 – minute SPX chart courtesy of Trading ViewContinue reading “The Final Wave Up?”
S&P 500 Intraday Elliott Wave Count – 02/29/24
The 15 – minute S&P 500 (SPX) chart courtesy of Trading View updates the action. The 02/27//23 blog illustrated that Minute wave “iv” may have bottomed at the SPX 02/27/24 low. This could still be the correct wave count, however the choppy nature of the rally off that bottoms suggests something else could be developing.Continue reading “S&P 500 Intraday Elliott Wave Count – 02/29/24”
Alphabet Inc. Major Downside Break
Alphabet Inc. (GOOGL) has broken below trendline and chart support. This downside move has bearish implications for the stock and perhaps the broader U.S. stock market. The 02/25/24 blog “Three Magnificent Stocks” examined the technical situation for GOOGL and noted. “A move below the lower rising trendline and first chart support at 139.49 could openContinue reading “Alphabet Inc. Major Downside Break”
S&P 500 Intraday Elliott Wave Count – 02/27/24
The decline from the S&P 500 (SPX) top at 5,111.06 may have ended today 02/27/24. The 15 – minute SPX chart courtesy of Trading View updates the action. The 02/24/24 blog illustrated that the presumed Minute “iv” correction after the SPX 02/23/24 top could terminate on 02/26/24 at or near a Fibonacci .236 retracement ofContinue reading “S&P 500 Intraday Elliott Wave Count – 02/27/24”
Three Magnificent Stocks to Watch
In the late stage of a stock bull market fewer and fewer stocks participate in the rally. This phenomenon can be viewed in the “Magnificent Seven Stocks”. Soon, if one or two of these seven stock breaks to the downside, it could trigger a significant decline in the broader U.S. stock market. The Magnificent SevenContinue reading “Three Magnificent Stocks to Watch”
Could February 27, 2024 be an S&P 500 Turning Point?
The S&P 500 (SPX) Elliott wave pattern suggests a major Fibonacci resistance point near 5,131 could be hit on 02/27/24. The two – hour SPX chart courtesy of Trading View illustrates the Elliott pattern from the 10/27/23 bottom. Analyzing Elliott wave patterns is like putting together a Jigsaw puzzle. Discovering the location of one pieceContinue reading “Could February 27, 2024 be an S&P 500 Turning Point?”
U.S. Stock Market Mania – February 2024
Since October 27, 2023 the S&P 500 (SPX) has rallied more than 23% with only one 2.5% correction. Today the SPX gapped up 2.11% the biggest one-day gain in four months! The weekly SPX chart courtesy of Trading View shows the long-term Elliott wave count since January 2022. Several blogs on this website have illustratedContinue reading “U.S. Stock Market Mania – February 2024”
Bear Market Rally Top on 02/22/24?
The S&P 500 (SPX) – intraday Elliott wave patterns suggests a bear market rally peak could occur early in the main session 02/22/24. The 15-minute SPX chart courtesy of Trading View illustrates the action after the 02/12/24 top. This updates the SPX chart illustrated in the 02/17/24 blog “Intraday Examination of the S&P 500” whichContinue reading ” Bear Market Rally Top on 02/22/24?”
Four Dimension Trading 