Mark Rivest

S&P 500 – Elliott Wave and Momentum Update – 03/31/23

On 03/31/23 the S&P 500 (SPX) rallied close an important resistance zone. Its possible an important top may have been made on 03/31/23, momentum indicators suggest more upside action. The daily SPX chart courtesy of BigCharts.com illustrates three momentum oscillators. The Slow Stochastic is the most sensitive of the three indicators. The upper line hasContinue reading “S&P 500 – Elliott Wave and Momentum Update – 03/31/23”

Philippines Stock Exchange Update – 03/30/23

The Philippines Stock Exchange (PSEI) could make an important top in early April 2023. The PSEI decline from 01/24/23 to 03/16/23 was in the form of an Elliott wave impulse pattern. The five wave drop could be the first part of a much larger bear phase lasting several weeks or perhaps months. The daily PSEIContinue reading “Philippines Stock Exchange Update – 03/30/23”

Possible Important U.S. Stock Market Top – April 2023

Fibonacci time analysis and the next U.S. Consumer Price Index (CPI) report give clues to when an important stock peak could occur. Sometimes Fibonacci time ratios can project a potential market time zone turns. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates what could be an important turn in 2023. The SPXContinue reading “Possible Important U.S. Stock Market Top – April 2023”

Stocks Could be in a Terminal Rally

On 02/02/23 the S&P 500(SPX) – 50 – day moving average (MA) crossed above its 200 – day MA, this is known as a “Golden Cross”. The SPX rallied and peaked on 02/02/23 then declined and has since stayed below its 02/02/23 high. The SPX could still climb above its 02/02/23 high, for now it’sContinue reading “Stocks Could be in a Terminal Rally”

Combining Technical and Fundamental Analysis

Traders that mainly use Technical Analysis should also devote some attention to Fundamental Analysis. Recently, bearish economic signals have increased the need to focus on Fundamental factors. First a Technical update on U.S. stocks. The 15 – minute S&P 500 chart courtesy of Trading View illustrates the Elliott wave count just prior to and afterContinue reading “Combining Technical and Fundamental Analysis”

Fed Decision Day – Part – Two

Today 03/22/23 the FOMC made their interest rate announcement. Later the S&P 500 (SPX) rallied to the low end of the price target zone illustrated in the 03/21/22 blog. After hitting the target zone the SPX dropped like a rock and ended the session at the low of the day. Focusing just on the SPX,Continue reading “Fed Decision Day – Part – Two”

Fed Decision Day

The next FOMC interest rate announcement will be made 2:00 PM -EDT – 03/22/23. The reaction to that announcement could affect the course of stocks for the next several weeks. Recently blogs on this site have noted bearish factors that hint U.S. and global stocks could be on the verge of a sharp decline. TheContinue reading “Fed Decision Day”

Could Crude Oil be Signaling Economic Weakness?

During the week of 03/13/23 to 03/17/23 Crude Oil made a new bear market low. This move implies additional weakness for Crude Oil. It could also be a bearish signal for the economy and stocks. Crude Oil is the essential commodity for the global economy. Generally rising Oil prices correspond with a growing economy. FallingContinue reading “Could Crude Oil be Signaling Economic Weakness?”

Could the U.S. Federal Reserve be Trapped?

On 03/22/23 the FOMC will make their next decision on interest rates. They could continue to raise rates or pause because of recent U.S. bank failures. Either decision could ultimately be bearish for U.S. stocks and the economy. Currently the U.S economy is experiencing higher than normal inflation rates caused by massive U.S. government spending. Continue reading “Could the U.S. Federal Reserve be Trapped?”

S&P 500 – Alternate Elliott Wave Count – 03/16/23

This alternate Elliott wave count has the same message as the wave count illustrated in 03/15/23 blog. The message was that the S&P 500 (SPX) could be in a new down phase of a bear market that began in January 2022. If the alternate wave count is correct it could provide Fibonacci evidence of whereContinue reading “S&P 500 – Alternate Elliott Wave Count – 03/16/23”