Mark Rivest

Possible Major S&P 500 – Bottom October 2023

Seasonal patterns for stocks are bearish until October. A break below a strong support zone could trigger a mini – crash bottoming sometime in October 2023. The recent blog “S&P 500 – Support Levels – 09/20/23” noted, (The first support area is the double bottoms of 06/26/23 and 08/18/23. The important level is 4,328.08 madeContinue reading “Possible Major S&P 500 – Bottom October 2023”

Upside Target for U.S. Treasury Yield

The 09/09/23 blog “U.S. Interest Rates Ready to Thrust Higher” noted that long – term U.S. interest rates/yields could soon make new highs. Also noted, (The most important point on the chart is the 08/21/23 peak at 4.474 which is labeled Minor wave “1”.) Today 09/21/23 U.S. 30 – year treasury yields (TYX) blasted aboveContinue reading “Upside Target for U.S. Treasury Yield”

S&P 500 – Support Levels – 09/20/23

Seasonal stock patterns are bearish until late October. Today’s U.S. – FOMC short – term interest rate announcement triggered additional selling, opening the door for lower prices. The daily S&P 500 (SPX) chart courtesy of Trading View shows two potential support zones. The first support area is the double bottoms of 06/26/23 and 08/18/23. TheContinue reading “S&P 500 – Support Levels – 09/20/23”

Crude Oil Elliott Wave Pattern – 09/15/23

The 04/16/23 blog “Crude Oil Elliott Wave Pattern – 04/14/23” illustrated that Crude Oil – Continuous Futures (CL2!) had completed a Primary degree Elliott Impulse wave at 64.58 on 03/20/23. Subsequently Crude Oil rallied and then made a marginal new low at 63.60 on 05/04/23. The 05/07/23 blog “Crude Oil Update – 05/05/23” updated theContinue reading ” Crude Oil Elliott Wave Pattern – 09/15/23″

S&P 500 – Momentum Update – 09/15/23

The prior blog “S&P 500 – Upside Target Hit – 09/14/23” noted “There’s a good chance the SPX made an important top at 4,511.99. If so U.S. stocks could begin a sharp and deep multi- week decline.” On 09/15/23 the S&P 500 (SPX) fell more than 54 – points. Weekly and daily SPX momentum oscillatorsContinue reading “S&P 500 – Momentum Update – 09/15/23”

S&P 500 – Upside Target Hit – 09/14/23

The 09/13/23 blog “S&P 500 – Elliott Wave Count Update – 09/13/23” illustrated that the S&P 500 (SPX) could rally to a chart resistance area. Today 09/14/23 the SPX hit that upside target. Also noted in the 09/13/23 blog (The shallow and choppy decline from the SPX 09/11/23 top at 4,490.77 labeled Minuette wave (a)Continue reading “S&P 500 – Upside Target Hit – 09/14/23”

S&P 500 – Elliott Wave Count Update – 09/13/23

The 09/12/23 blog noted “The SPX since its 07/27/23 top could be forming a series of “one’s” and “two’s” down”. This is still the most likely Elliott wave count, however the second wave “two” – up of the series may still be under development. The 15-minute S&P 500 (SPX) chart courtesy of Trading View updatesContinue reading “S&P 500 – Elliott Wave Count Update – 09/13/23”

S&P 500 – Short-Term Elliott Wave Count – 09/12/23

The S&P 500 (SPX) could be developing a very bearish Elliott wave count. The hourly SPX chart courtesy of Trading View updates the action. The SPX since its 07/27/23 top could be forming a series of “one’s” and “two’s” down. Minor waves “1”- “2” and Minute wave “I” – “ii” are main portions of theContinue reading “S&P 500 – Short-Term Elliott Wave Count – 09/12/23”

Nvidia Corporation Update – 09/08/23

Nvidia Corporation (NVDA) bearish technical situation was illustrated in the 08/13/23 blog “Follow the Leaders”. Since then, the technical condition of the stock has gotten more bearish. The weekly NVDA chart courtesy of Trading View illustrates the action since 2022. In bull markets there are usually one or two stocks that are spectacular upside leaders. Continue reading “Nvidia Corporation Update – 09/08/23”

U.S. Interest Rates Ready to Thrust Higher?

Amazingly clear Elliott wave patterns indicate U.S. long-term rates/yields could soon make new highs. The 09/02/23 blog “U.S. Interest Rates Could Soon Make New 2023 Highs” illustrated the daily the CBOE 30- year Treasury Yield chart (TYX) courtesy of Trading View. Subsequent action supports the theory of long – term U.S. interest rates movingContinue reading “U.S. Interest Rates Ready to Thrust Higher?”