Author Archives: Mark Rivest

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”

Bitcoin and Nasdaq Relationship – 08/18/23

The Nasdaq Composite (IXIC) and Bitcoin in U.S. dollars (BTCUSD) tend to trend together.  Since late 2021 BTCUSD has been the weaker of the two and could be giving a preview of near -term IXIC action. The weekly BTCUSD and IXIC chart courtesy of Trading View shows their relationship since November 2021. BTCUSD made itsContinue reading “Bitcoin and Nasdaq Relationship – 08/18/23”

S&P 500 First Wave Down Nearing Completion – 08/18/23

The 08/16/23 blog “S&P 500 – Downside Targets – 08/16/23”  noted. “A Fibonacci .236 retrace of October 2022 to July rally is near SPX 4,350.  The SPX closed 08/16/23 at 4,404 and could reach 4,350 on 08/17/23.” On the S&P 500 (SPX)  08/18/23 open it reached 4,350 and quickly bottomed out at 4,335.  Could thisContinue reading “S&P 500 First Wave Down Nearing Completion – 08/18/23”

Philippines and Vietnam Stock Markets Update – 08/17/23

The 07/15/23 blog “Philippine Stock Exchange an Elliott Wave Tutorial” illustrated that the Philippine Stock Exchange (PSEI) could be rising in an Elliott wave – Double Zigzag pattern. The daily PSEI chart courtesy of Trading View updates the action. About 85 to 90% of the time the second Zigzag of a Double Zigzag pattern willContinue reading “Philippines and Vietnam Stock Markets Update – 08/17/23”

S&P 500 – Downside Targets – 08/16/23

Today 8/16/23 the S&P 500 (SPX)  made a new decline low.  Fibonacci analysis provides clues to potential short-term support levels. The 08/15/23 blog illustrated that the SPX was in a declining wedge.   The 2- hour SPX chart courtesy of Trading View shows what happened to the wedge. The wedge is gone, and the SPX isContinue reading “S&P 500 – Downside Targets – 08/16/23”