Author Archives: Mark Rivest

S&P 500 –  Alternate and Prime Elliott Wave Counts

There are two paths the S&P 500 (SPX) could take in the coming weeks.  Late November 2023 could be an important time zone. The 11/05/23 blog “Sentiment and Momentum Readings for U.S. Stocks – October 2023” noted that the bottom made on 10/27/23 lacked the evidence for a multi-month rally and further stated “Bulls needContinue reading “S&P 500 –  Alternate and Prime Elliott Wave Counts”

Near – Term S&P 500 Momentum

Today 11/15/23 the S&P 500 (SPX) continued its relentless rally in what appears to be a still developing Elliott wave impulse pattern.The daily SPX chart courtesy of Trading View illustrates two – external momentum indicators. The RSI has reached 68.28, the overbought zone starts at 70.00, and so far there’s no momentum divergence.  MACD –Continue reading “Near – Term S&P 500 Momentum”

Marginal Death Cross and Rally

In March 2022 the Dow Jones Industrial Average (DJIA) had a “Death Cross” and in the same day made a secondary bottom.  On 11/13/23 the DJIA had a marginal “Death Cross” and made a minor bottom.  Today, 11/14/23 there was a massive rally. The daily DJIA chart courtesy of BigCharts.com illustrates the action. Todays giantContinue reading “Marginal Death Cross and Rally”

U.S. 30 – Year Treasury Yield –  Elliott Wave Count – 11/10/23

In recent months there’s been an inverse relationship between U.S. 30 – year Treasury yield/rate and the U.S. stock market.  Rates rise stocks fall.   The U.S. 30 – year Treasury yield (TYX) is now at a crossroad.  What happens next week could determine the near -term course for U.S. stocks. The 09/21/23 blog “Upside TargetContinue reading “U.S. 30 – Year Treasury Yield –  Elliott Wave Count – 11/10/23”

            S&P 500 – Elliott Wave Count – 11/10/23

The S&P 500 (SPX) may have completed an important Elliott Wave pattern. The 3 – hour SPX chart courtesy of Trading View illustrates the most likely Elliott wave count from late July 2023. The SPX decline from 07/27/23 to 10/27/23 appears to be an Elliott wave – Leading Diagonal Triangle (LDT).  This structure only occurs Continue reading ”            S&P 500 – Elliott Wave Count – 11/10/23″

At the Intersection

On 11/09/23 the sharp plunge in U.S. stocks looked like the start of at least a multi-day decline.  Today 11/10/23 the bulls replied with a persistent rally throughout the trading session. The daily Dow Jones Industrial Average chart courtesy of BigCharts.com shows the position of its moving average lines. The 50 – day moving averageContinue reading “At the Intersection”

Watching for a  Death Cross – Part Two

On 11/08/23 the Dow Jones Industrial Average (DJIA) 50 – day moving average (MA) was 39 – points away from crossing below its 200 -day MA.  Today 11/09/23 the lines were only 18 – points apart.   There’s a high probability the 50 – MA could go below the 200 – day MA on 11/10/23.   TheContinue reading “Watching for a  Death Cross – Part Two”

Sentiment and Momentum Readings for U.S. Stocks – October 2023

Stock market bottoms prior to at least multi- month rallies occur in two ways.  After a sudden and sharp decline, such as the 2020 crash.  Or after a multi month drop like the January to October 2022 bear phase.  The sentiment and momentum readings from U.S. Stocks in late October 2023  provide insight to theContinue reading “Sentiment and Momentum Readings for U.S. Stocks – October 2023”