Mark Rivest

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?”

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”