Author Archives: Mark Rivest

S&P 500 Continues to Decline – 09/07/23

Daily momentum for the S&P 500 (SPX) implies more downside action. The daily SPX chart courtesy of Trading View updates the action. Daily Stochastic had a bearish lines cross three – trading days ago and the lines are in the upper part of the neutral zone. Today 09/07/23 RSI crossed below its moving average line.Continue reading “S&P 500 Continues to Decline – 09/07/23”

Turn the Calendar, Turn the Tide?

September is seasonally the most bearish month for stocks. The  08/31/23 bog “It’s About Time” noted, “Today 08/31/23 there’s a Full moon.  The U.S. monthly payroll report is due at 8:30 AM – EDT – 09/01/23.   Labor day is 09/04/23.  Daily SPX – Stochastic is in the overbought zone. U.S. Stocks may have made anContinue reading “Turn the Calendar, Turn the Tide?”

Massive Consumer Staples Divergence

In U.S stock bull markets most sectors will trend with the main U.S. stock indices.  Since May of 2023 the Consumer Staples – ETF (XLP) has been lagging the S&P 500 (SPX).  The bearish divergence of this important sector is another sign that U.S stocks could be on the cusp of a sharp and deepContinue reading “Massive Consumer Staples Divergence”

U.S. Interest Rates Could Soon Make New 2023 Highs

The next U.S. FOMC decision on short-term U.S. interest rates is 09/20/23.  Between now and then there’s likely to be considerable speculation on what action the FOMC could take.  Rather than partake in a guessing game, focus on what’s happening at the long end of the U.S. interest rate curve.  The daily CBOE  30 –Continue reading “U.S. Interest Rates Could Soon Make New 2023 Highs”

Possible Counter  Trend Peak for U.S. Stocks – 08/30/23

The Nasdaq Composite (IXIC) declined from 07/19/23 to 08/18/23.  On 08/30/23 the IXIC and the other two main U.S. stock indices may have made  tops  in a developing bear trend. The 08/26/23 blog “Nasdaq Composite Elliott Wave Count – 08/25/23” illustrated a potential resistance zone from 13,900 to 13,980. The IXIC – two-hour chart courtesyContinue reading “Possible Counter  Trend Peak for U.S. Stocks – 08/30/23”

Apple Inc. – Clear Elliott Wave Pattern

Sometimes individual stocks can have amazingly clear and accurate Elliott wave patterns.  The recent action of Apple Inc. (AAPL) could be very helpful in timing the broader U.S. stock market. The two – hour APPL chart courtesy of Trading View illustrates  its Elliott wave pattern since 07/19/23. From 07/19/23 to 08/18/23 APPL formed a clearContinue reading “Apple Inc. – Clear Elliott Wave Pattern”

Nasdaq Composite Elliott Wave Count – 08/25/23

On 8/18/23 the Nasdaq Composite (IXIC) bottomed out after its post 07/19/23 decline.  The rally after the 08/18/23 bottom could still be a fourth wave of a developing motive pattern.  However, the size of the rally is suspiciously large for a presumed wave “four”. This current  blog examines two other potential Elliott wave counts. TheContinue reading “Nasdaq Composite Elliott Wave Count – 08/25/23”

Bearish Stock Reversal – 08/24/23

Today 8/24/23 the S&P 500 (SPX) opened the session with a gap up.  The opening move invalidated the Elliott wave count illustrated in this websites prior blog.  It appeared this open could be the beginning of a day long bull run.  What happened was a  dramatic bearish reversal. The SPX declined into the close ofContinue reading “Bearish Stock Reversal – 08/24/23”

Elliott Wave Count For U.S. Stock Indices – 08/23/23

The post 08/18/23 rally in U.S. stock indices could be complete. The 08/19/23 blog “S&P 500 First Wave Down Nearly Complete – 08/18/23”  illustrated that the S&P 500 (SPX) may have completed Minuette wave (iv) of Minute wave “v” – boxed of the post 07/27/23 decline. The 30 – minute SPX chart courtesy of TradingContinue reading “Elliott Wave Count For U.S. Stock Indices – 08/23/23”