Mark Rivest

Wild Oscillations

Since 04/25/23 the S&P 500 (SPX) has experienced dramatic swings up and down. On 04/25/23 the SPX had a powerful move down breaking strong support. Then suddenly on 04/27/23 a huge move up that pushed the SPX to a new post 03/13/23 rally high. Finally, just after the open of the SPX 05/02/23 session, aContinue reading “Wild Oscillations”

Examination of Long and Short -Term Interest Rates – 04/28/23

On 05/03/23 the U.S. FOMC will announce their decision on short – term interest rates. A look at the charts of 13 – week U.S. Treasury Bill rates (IRX) and 30 – year U.S. Treasury Bond yields (TYX) give hints to what may happen in the coming months. The monthly IRX chart courtesy of TradingContinue reading “Examination of Long and Short -Term Interest Rates – 04/28/23”

Cycle Top Due on May 5, 2023

Since May of 2019 there has been an effective Fibonacci time cycle connecting three S&P 500 (SPX) peaks. The cycle is 336 – trading days, approximately 16 – months. The cycle is based on the Fibonacci time ratio of equality 1/1. The daily SPX chart courtesy of Trading View illustrates the cycle. Using the nextContinue reading “Cycle Top Due on May 5, 2023”

UK 100 Secondary Top Could be in Place – 04/27/23

The 04/23/23 blog “UK 100 at Sell Point? – 04/21/23” noted the UK 100 (UKX) had reached an area of chart resistance. Since then, the peak at 7,936 has held. The daily UKX chart courtesy of Trading View updates the action. Price has begun to rollover. The daily RSI has crossed below it’s movingContinue reading “UK 100 Secondary Top Could be in Place – 04/27/23”

Alphabet Inc. Could Signal an S&P 500 – Shorting Opportunity

It’s possible the S&P 500 (SPX) completed an Elliott wave – Inverse Horizontal Triangle, if so a multi- month decline may have begun. However, one important company Alphabet Inc. (GOOG) could be poised for a culminating rally. The daily SPX chart courtesy of Trading View illustrates its prime Elliott wave count since January 2022. TheContinue reading “Alphabet Inc. Could Signal an S&P 500 – Shorting Opportunity”

Break Below Powerful Support – 04/25/23

The 04/20/23 Blog “The Next S&P 500 Support Level” noted the S&P 500 (SPX) had Fibonacci support at 4,107.06 and 4,108.06. Also noted, “When you have two Fibonacci coordinates that are very close together it represents powerful support/resistance. A break trough of powerful support/resistance would require powerful force.” On 04/21/23 the SPX bottomed out atContinue reading “Break Below Powerful Support – 04/25/23”

UK 100 at Sell Point? – 04/21/23

The 04/19/23 blog “UK 100 Near Sell Point – 04/19/23” noted “The UKX has reached the resistance zone and a small rally could complete the Minor wave “2” formation.” The 3 – hour UK 100 (UKX) chart courtesy of Trading View updates the action. The upper end of chart resistance was estimated to be 7,975,Continue reading “UK 100 at Sell Point? – 04/21/23”

The Next S&P 500 Support Level – Part – Two

The 04/20/23 blog noted that the S&P 500 (SPX) had two Fibonacci support levels. One at 4,107.81 and the other at 4,108.06. On 04/21/23 the SPX low was at 4,113.86 only 5.80 points from the prime Fibonacci coordinate. The SPX – 5 – minute chart courtesy of Trading View updates the action. The Elliott waveContinue reading “The Next S&P 500 Support Level – Part – Two”

The Next S&P 500 Support Level

The S&P 500 (SPX) decline from the 04/18/23 top is choppy, possibly an Elliott wave – Double Zigzag. If so there are two Fibonacci coordinates that indicate a support level that could be reached on 04/21/22. The SPX – 30 – minute chart courtesy of Trading View shows where a bottom could be made. TheContinue reading “The Next S&P 500 Support Level”

UK 100 Near a Sell Point -04/19/23

The 04/02/23 blog “Britannia Rules the Elliott Waves” noted that if the UK 100 (UKX) exceeded a .618 retracement of the 02/16/23 to 03/20/23 decline – the next resistance was at 7,850 to 7,975. The 3-hour UKX chart courtesy of Trading View updates the action. The UKX has reached the resistance zone and a smallContinue reading “UK 100 Near a Sell Point -04/19/23”