Author Archives: Mark Rivest

Nvidia – Long -Term Elliott Wave Count

In the current cycle  Nvidia Corporation  (NVDA) is probably the king of all U.S. stocks.  Long -term Elliott wave analysis suggests NVDA could soon begin a multi – month decline.  The monthly NVDA chart courtesy of Trading View illustrates its progress from the November 2008 bottom. NVDA has formed an extended Elliott wave Impulse pattern.  Continue reading “Nvidia – Long -Term Elliott Wave Count”

Nvidia Corporation and S&P 500 Connection

Since late October 2023 both Nvidia Corporation (NVDA) and the S&P 500 (SPX) have traded closely together.  Their relationship could provide evidence for a major U.S. stock market top. The daily NVDA and SPX chart courtesy of Trading View illustrates their relationship. Since late October 2023 NVDA and SPX have made turns within about tradingContinue reading “Nvidia Corporation and S&P 500 Connection”

S&P 500 – Elliott Wave Pattern From October 2023

The  S&P 500 (SPX) could find resistance in the 5,250 area. The SPX – 3- hour chart courtesy of Trading View illustrates the Elliott wave count from the 10/27/23 bottom. The SPX rally from 10/27/23 has the smooth and steady look of a five – wave Elliott Impulse pattern.  The bottom made on 03/11/24 appearsContinue reading “S&P 500 – Elliott Wave Pattern From October 2023”

U.S. Stock Market Sentiment – 03/08/24

Market sentiment indicators measure the emotion of the mass mind.  Current sentiment readings for the U.S. stock market imply a major top could be forming. Market sentiment can be measured by polling and actions taken by market participants.  One organization that conducts market polling is Market Vane Inc. The Bullish Consensus number is derived byContinue reading “U.S. Stock Market Sentiment – 03/08/24”

U.S. Stock Market Momentum – 03/08/24

Longer -term U.S. stocks are in the area of a potential major top.  Shorter – term there could be more upside action. The daily S&P 500 (SPX) chart courtesy of BIgCharts.com updates the short-term view. The 03/07/24 blog illustrated the Slow Stochastic lines intersecting.  There’s now a bullish crossover below the overbought zone which beginsContinue reading “U.S. Stock Market Momentum – 03/08/24”

Stock Buying Mania Continues – 03/07/24.

Short-term bullish signals imply U.S. stocks could continue to rise. The daily S&P 500 (SPX) chart courtesy of BigCharts.com updates the action. Today  the SPX went above its 03/04/24 high.  This move changes the Elliott wave count showing five waves up from 0/27/23 to 03/04/24.   There are now several alternate wave counts, further price actionContinue reading “Stock Buying Mania Continues – 03/07/24.”

Russell 2000 –  Elliott Wave Count

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”

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”

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”