Mark Rivest

Straight Up

The U.S. stock rally from 10/27/23 could be the first phase of a bull move into late November 2023. Momentum evidence implies a move down during the week of 11/06/23 to 11/10/23. The daily Dow Jones Industrial Average (DJIA) chart courtesy of BigCharts.com updates the potential “Death Cross” and momentum. On 11/03/23 the DJIA –Continue reading “Straight Up”

An Approaching Death Cross – Part Three

Today 11/02/23 U.S. had a persistent rally throughout the main trading session. The Dow Jones Industrial Average – Bigcharts.com symbol (DJIA) 50 – day – moving average (MA) moved closer to its 200 – day MA. If there’s a “Death Cross” it could be giving a bearish signal after a bottom is in place. TheContinue reading “An Approaching Death Cross – Part Three”

An Approaching Death Cross – Part Two

The 10/28/23 blog “Approaching Death Cross” noted that the Dow Jones Industrial Average (DJIA) 50 – day moving average (MA) could cross below its 200 – day MA. This is known as a “Death Cross”. Today 11/01/23 the DJIA moving average lines moved closer to a cross. A very important DJIA top could occur inContinue reading “An Approaching Death Cross – Part Two”

Utility Stocks and Interest Rates Connection

For more than one year there’s been an inverse relationship between U.S. utility stocks and U.S. interest rates. When interest rates rise utility stocks decline. The Dow Jones Utility Average (DJU) could soon be signaling an important U.S. interest rate peak. The 09/21/23 blog “Upside Target for U.S. Treasury Yield” noted that U.S. 30 –Continue reading “Utility Stocks and Interest Rates Connection”

An Approaching Death Cross

The Dow Jones Industrial Average (DJI) could soon have an important “Death Cross” (DC) signal. When the 50 – day Moving Average (MA) line crosses beneath the 200 – day – MA it’s called a Death Cross – bearish signal. When the 50 – day – MA crosses above the 200 – day – MAContinue reading “An Approaching Death Cross”

U.S. Stocks in Steady Decline

Today 10/26/23 all three main U.S. stock indices made new post July 2023 decline lows; the drop could continue into at least early November. The daily S&P 500 (SPX) chart courtesy of Trading View updates the action. The 10/25/23 blog “Support Breaks Without a Panic” noted there was a bullish SPX – RSI divergence vs.Continue reading “U.S. Stocks in Steady Decline”

Support Breaks Without Panic

The S&P 500 (SPX) broke below chart support at 4,216.45 and the SPX – 200 – day moving average (MA). So far no panic. If the decline continues it could be a steady drop until 11/01/23. The daily SPX chart courtesy of Trading View illustrates the action. The bearish factor on the chart is theContinue reading “Support Breaks Without Panic”

Crude Oil Update – 10/24/23

The 10/21/23 blog “Crude Oil Update – 10/20/23” illustrated that Crude Oil (CL2!) had peaked at a Fibonacci .66 retracement of its prior drop. The top came at a Fibonacci .66-Fibonacci time ratio. The 30 – minute CL2! – chart courtesy of Trading View updates the action. Today 10/24/23 CL2! – broke decisively below importantContinue reading “Crude Oil Update – 10/24/23”

Clues From the Consumer Staples Stock Sector

The SPDR – Consumer Staples Select Sector fund (XLP) is usually one of the most bullish sectors in the U.S. stock market. During 2023 it’s performance relative to the general stock market has been bearish. XLP’s recent action indicates U.S. stocks could continue declining into early November 2023. The weekly XLP chart courtesy of BigCharts.comContinue reading “Clues From the Consumer Staples Stock Sector”

Crude Oil Update – 10/20/23

At the close of trading on 10/13/23 it appeared that Crude Oil (CL2!) had completed a post-crash bounce. During the week of 10/16/23 to 10/20/23 – CL2! – made additional upside progress. The move up from the 10/06/23 bottom still appears to be a bear market rally which could be complete. The daily CL2! –Continue reading “Crude Oil Update – 10/20/23”