Mark Rivest

Examination of U.S Interest Rates – 12/09/22

On 12/14/22The FOMC will decide about U.S short – term interest rates. Its expected they will raise rates only .50% as opposed to recent increases of .75%. Whatever the decision is, evidence suggest U.S interest rates could continue to rise for several years. The daily chart courtesy of Trading View shows the yield curveContinue reading “Examination of U.S Interest Rates – 12/09/22”

NYSE Composite – Update – 12/09/22

The previous blog noted that hourly momentum of the NYSE Composite (NYA) was bullish. However, on 12/09/22 the bears were able to overpower the bulls. The hourly chart courtesy of Trading View shows the turn of the tide. The 12/08/22 blog illustrated that NYA important resistance was at 15,452.76 on 12/09/22 the NYA failed toContinue reading ” NYSE Composite – Update – 12/09/22″

Bull Market Revival

On 12/07/22 it appeared that US stocks could continue to decline. Evidence on 12/08/22 from the price and momentum dimensions imply that the wounded bull market could be recovering. To discover the best Elliott wave count, examine several stock market indices, sector ETF’s and sometimes individual stocks. The prior blog noted that the S&P 500Continue reading “Bull Market Revival”

Wounded Bull Market

On 12/06/22 the S&P 500 (SPX) broke below important support made on 11/29/22, wiping out all of the gains made during the powerful 11/30/22 rally. Additionally, the decline from the 12/01/22 peak at 4,100 has the look of a developing Elliott – Impulse wave. If so, this could be the first wave down of aContinue reading ” Wounded Bull Market”

Breaking Through Resistance – Part -Two

So far the S&P 500 (SPX) has been able to have two daily closes above the 200 – day moving average (MA). This was probably a factor in bringing in buying at the open of the 12/02/22 session. There’s still one potential resistance barrier to overcome – the declining trendline from the January 2022 all-timeContinue reading “Breaking Through Resistance – Part -Two”

Additional Bullish Evidence – 12/02/22

The S&P 500 (SPX) 12/01/22 to 12/02/22 decline has given several clues that the rally from mid – October is likely to continue. The 5 – minute chart courtesy of Trading View illustrates the action. The drop from 4,100 has the look of an Elliott wave – Zigzag correction. The decline so far has retracedContinue reading “Additional Bullish Evidence – 12/02/22”

Breaking Through Resistance – 11/30/22

Today 11/30/22 the S&P 500 (SPX) broke above the 11/25/22 peak and the 200 – day moving average (MA). This move could trigger fund managers into additional stock purchases. The daily SPX chart courtesy of Trading View illustrates the action. The next resistance is the declining trendline from the January 2022 top. A move aboveContinue reading “Breaking Through Resistance – 11/30/22”

Nasdaq Composite – Elliott Wave Count

Both the S&P 500 and the Dow Jones Industrial Average 2022 bear moves from their respective all-time highs have the look of Elliott wave corrective patterns. The Nasdaq Composite (IXIC) and the Nasdaq 100 (NDQ) declines from November 2021 to October 2022 appear to be Elliott wave motive patterns. In particular extended Impulse waves. IfContinue reading “Nasdaq Composite – Elliott Wave Count”

Avis Budget Group is Near a Buy Point

Investor’s Business Daily (IBD) has Avis Budget Group Inc. (CAR) on its lists of stocks nearing a buy point. IBD uses the “Cup with handle” formation to identify entry points. The daily chart of CAR courtesy of Trading View illustrates the stock’s recent history. The buy point is just above the cup high at 246.42Continue reading ” Avis Budget Group is Near a Buy Point”

Elliott – Motive and Corrective Waves

Elliott wave theory has two basic modes – Motive waves which move with the primary trend and Corrective waves which are corrections to the primary trend. There are three variations of Motive waves and ten variations of Corrective waves. This blog can serve as an aid to differentiating between Motive and Corrective patterns even withoutContinue reading ” Elliott – Motive and Corrective Waves”