Mark Rivest

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”

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”