Mark Rivest

Shifting Strength

From 10/13/22 to 12/13/22 the Dow Jones Industrial Average (DJI) retraced 71% of its January to October 2022 bear phase, over performing both the S&P 500 (SPX) and Nasdaq Composite (IXIC). After 12/13/22 the DJI underperform the SPX and IXIC. However, during the week of 02/06/23 to 02/10/23 the DJI exhibited subtle signs of strengthContinue reading “Shifting Strength”

Price Forecast for UK 100 – Major Top

Elliott wave analysis of the UK 100 (UKX) illustrated in the 02/04/23 blog “Rule, Britannia!” indicated that the long, intermediate and short – term UKX bull trend could soon reach a climax. Fibonacci and trendline analysis provides clues as to where a major UKX peak could occur. The monthly UKX chart courtesy of Trading ViewContinue reading ” Price Forecast for UK 100 – Major Top”

Fascinating Elliott Wave Pattern

From the bottom made on 10/13/22 to 01/13/23 the Dow Jones Industrial Average (DJI) retraced about 71% of its January to October 2022 bear move. The DJI upside performance was far stronger than the S&P 500 (SPX) and the Nasdaq Composite (IXIC). Then from 01/13/23 to 02/08/23 the DJI underperformed both the SPX and IXIC. Continue reading “Fascinating Elliott Wave Pattern”

How to Use Point & Figure Charts

Point and Figure (PF) charts are a way to visualize price movements and trends in an asset without regard to the amount of time that passes. The columns of X’s represent rising prices. Columns of O’s represent falling prices. This method has been used for more than 130 years and is an excellent tool toContinue reading “How to Use Point & Figure Charts”

Rule, Britannia!

The most recognized line in the British patriotic song “Rule, Britannia!” is “Rule Britannia, Britannia rule the waves.” On 02/03/23 the British stock market – UK 100 index (UKX) was the first major national stock index to make a new all-time high. Perhaps UKX is ruling the Elliott waves. The move above the prior all-timeContinue reading “Rule, Britannia!”

Golden Cross Signal – 02/02/23

Today the S&P 500 (SPX) 50 – day moving average (MA) line moved above the SPX 200 – day MA line which is called a “Golden Cross”. Prior to today’s event this has happened only eleven times since December 1998, about one signal every two years. The daily SPX chart courtesy of Trading View putsContinue reading “Golden Cross Signal – 02/02/23”

Additional Bullish Evidence – 02/01/23

Today from the perspective of Fundamental analysis the big news for U.S stocks was – FOMC raises short – term interest rates by .25%. There was also big news for U.S stocks from the perspective of Technical analysis. Bullish evidence for U.S stocks has been developing since early October 2022. This sites 10/08/22 blog “RussellContinue reading “Additional Bullish Evidence – 02/01/23”

Potential Golden Cross

The S&P 500 (SPX) 50 – day moving average (MA) is close to crossing above the SPX 200 – day MA. This is called a Golden Cross. Since 1998 there have been eleven Golden Cross signals that could provide insight into the coming months. The daily SPX chart courtesy of Trading View illustrates its 200Continue reading “Potential Golden Cross”

The Most Bullish U.S Stock Sector

Of the twelve SPDR Sector Select ETF’s the most bullish is the Energy sector fund (XLE). From the first trading day of 2022 – 01/03/22 to 01/27/23 the S&P 500 (SPX) is down 14.4%. The XLE over the same time is up 65.4%. Assuming the current uptrend in U.S stocks continues, XLE is likely toContinue reading “The Most Bullish U.S Stock Sector”

Fourteen Year Pattern Nearing Completion

Some time in the next few months a major national stock index could be completing an Elliott wave pattern that began in October 2008. One of the most fascinating discoveries that R.N Elliott made about wave theory is that form remains constant regardless of size. A wave pattern of five – hours could have theContinue reading “Fourteen Year Pattern Nearing Completion”