Mark Rivest

Crude Oil in Topping Zone

The 09/17/23 blog “Crude Oil Elliott Wave Pattern 09/15/23” noted that Crude Oil – Continuous Futures (CL2!) could make a significant top in the 91.50 to 94.80 zone. On 09/27/23 – CL2! – entered the topping zone. The daily CL2! – chart courtesy of Trading View updates the action. It now appears that the peakContinue reading “Crude Oil in Topping Zone”

Energy Sector Stocks May Have Peaked

The 09/17/23 blog “Crude Oil Elliott Wave Pattern – 09/15/23” noted that an important Crude Oil top could occur in a few trading days. Recent action of the Energy sector exchange traded fund (XLE) indicates they may have topped on 09/14/23. Since the S&P 500 (SPX) all-time high in January 2022, both the XLE andContinue reading “Energy Sector Stocks May Have Peaked”

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”