Mark Rivest

Dramatic Bearish Reversal for U.S. Stocks – 10/12/23

The prior blog “S&P 500 – Rallies Deep into Resistance Zone – 10/11/23” noted. (The sharp S&P 500 (SPX) rally could be nearing a top. Action on 10/12/23 could determine if it’s a top in a bear market rally or a signal to move higher.) Today 10/12/23 the SPX moved marginally above the high madeContinue reading “Dramatic Bearish Reversal for U.S. Stocks – 10/12/23”

S&P 500 – Rallies Deep into Resistance Zone – 10/11/23

The sharp S&P 500 (SPX) rally could be nearing a top. Action on 10/12/23 could determine if it’s a top in a bear market rally or a signal to move higher. The daily SPX chart courtesy of BigCharts.com updates the action. The 10/07/23 blog “Intermediate Bottom for U.S. Stocks?” illustrated SPX – Fibonacci resistance atContinue reading “S&P 500 – Rallies Deep into Resistance Zone – 10/11/23”

More Bullish Evidence for U.S. Stocks – 10/09/23

The S&P 500 (SPX) opened the 10/09/23 session down 19.47 points. It appeared a significant decline could be developing. After about 80 – minutes the bears were only able to move marginally below the opening bottom. Subsequently there was another relentless rally that continued though most of the session. The daily SPX chart courtesy ofContinue reading “More Bullish Evidence for U.S. Stocks – 10/09/23”

Intermediate Bottom for U.S. Stocks? – Part Two

Additional Evidence that the U.S. stock market could be forming an intermediate bottom. Stock market turns can occur when a stock sector or sectors fail to confirm a new high or low of a market move. A broad example of this phenomenon is what I call a “Rule of the majority” signal. This signal happensContinue reading “Intermediate Bottom for U.S. Stocks? – Part Two”

Intermediate Bottom for U.S. Stocks?

Something happened on 10/06/23 that indicates U.S. stocks may have made an intermediate bottom. One part of the “Volume Profile” analysis method is measuring a markets opening range. The best way to use “Volume Profile” for the S&P 500 (SPX) is to examine the nearest S&P 500 – E – Mini futures contract, currently DecemberContinue reading “Intermediate Bottom for U.S. Stocks?”

Detailed S&P 500 – Elliott Wave Counts – 10/05/23

The S&P 500 (SPX) could be at a crossroads. This blog illustrates two potential Elliott wave count paths. First an illustration of the possible truncated fifth wave that was noted in the prior blog. The 15 – minute SPX chart courtesy of Trading view shows the Elliott wave subdivisions of the decline from 09/29/23 toContinue reading “Detailed S&P 500 – Elliott Wave Counts – 10/05/23”

S&P 500 – Support Reached – 10/04/23

The 09/30/23 blog “S&P 500 – Nearing Support – 09/29/23” noted. (The presumed pattern from the 09/01/23 high could be complete on 10/02/23 or 10/03/23 in the area of 4,225 to 4,175.) On 10/03/23 the S&P 500 (SPX) low was 4,216.45. The daily SPX chart courtesy of Trading View updates the action. Daily RSIContinue reading “S&P 500 – Support Reached – 10/04/23”

Crude Oil Top – Additional Evidence

Significant bearish divergence between Crude Oil and Energy stocks indicates a multi-month Crude Oil drop may have begun. On 09/28/23 the Crude Oil Continuous futures (CL2!) reached the highest point of is 2023 bull run. The CL2! – top was unconfirmed by the Energy stock – Exchange Traded Fund (XLE). The daily CL2! – andContinue reading “Crude Oil Top – Additional Evidence”

S&P 500 – Nearing Support Zone – 09/29/23

The 09/23/23 blog “Possible Major S&P 500 – Bottom October 2023” noted that on 09/22/23 the S&P 500 (SPX) broke below the low end of a double bottom at 4,328.08. The blog illustrated the next support could be in the upper 4,100 to low 4,200 area. The daily SPX chart courtesy of Trading View updatesContinue reading “S&P 500 – Nearing Support Zone – 09/29/23”

Probable Crude Oil Top – 09/28/23

The 09/17/23 Blog “Crude Oil Elliott Wave Pattern – 09/15/23” noted that an Elliott wave – Inverse Expanding Flat could be nearing completion, with a broad topping zone of 91.50 to 94.80. Bullseye target at 94.31. The 09/27/23 blog “Crude Oli in Topping Zone” noted Crude Oil could hit the daily rising trend line andContinue reading “Probable Crude Oil Top – 09/28/23”