Mark Rivest

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”

Watching for a Death Cross

Today 11/08/23 the Dow Jones Industrial Average (DJIA) 200 – day moving average (MA) and its 50 – day MA were only 39 – points apart. On 11/07/23 the lines were 55 – points apart. A move of the 50 – day MA below the 200 – day MA – know as a “Death Cross” Continue reading “Watching for a Death Cross”

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”

Preview of Coming Attractions?

The prior blog noted that in 2022 the Dow Jones Industrial Average (DJI) had a “Death Cross” on the same day a secondary bottom formed. The daily DJI chart courtesy of Trading View shows that “Death Cross”. The same phenomenon could happen in the next week. Watch the DJI – 50 – day and 200Continue reading “Preview of Coming Attractions?”

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”