Mark Rivest

Big Move Up Not Down

Near the end of the 2022 trading year, it appeared the S&P 500 (SPX) was basing for a big move up that could begin on the first trading day of 2023. What happened was a continuation of the sideways move that developed into what looked like an Elliott wave – Horizontal Triangle. On 01/05/23 theContinue reading “Big Move Up Not Down”

Potential Thrust Down and Bottom on 01/06/23

The S&P 500 (SPX) moves up from 12/19/22 to 01/04/23 have been shallow and choppy, the signature of a correction in a down trend. Specifically, the movement appears to be an Elliott wave Horizontal Triangle. The 30-minute SPX chart courtesy of Trading View shows how this pattern fits within the action since the 10/13/22 bottom.Continue reading “Potential Thrust Down and Bottom on 01/06/23”

Put/Call Ratio Rally

Today 01/04/23 all three main U.S stock indices ended the trading session above the prior trading day close. Surprisingly the Put/Call ratio (PC) also closed the day to the upside. The daily PC and S&P 500 (SPX) chart courtesy of Trading View illustrates their relationship since August of 2022. Investor’s Business Daily uses readings aboveContinue reading “Put/Call Ratio Rally”

Swinging New Year

The open of the first trading day of 2023 had a sharp rally that threatened important resistance. The bears then repelled this advance with a sharp drop that failed to break below important support. The SPX – 15 – minute chart courtesy of Trading View illustrates the action since mid-December. A break below the risingContinue reading “Swinging New Year”

Persistent Bear Market Rallies

The U.S economy is suffering the highest inflation rates in forty years. The FOMC has been aggressively raising short -term interests rates. Is it possible for the S&P 500 (SPX) to rally above its 12/13/22 – 4,100 top? Two examples illustrate that the SPX can have persistent bear market rallies regardless of bearish factors. Continue reading ” Persistent Bear Market Rallies”

Short – Term Elliott Wave Count – 01/01/23

The prime S&P 500 (SPX) Elliott wave count from the 12/22/22 bottom is a series of “one’s” and “two’s” up. This is the most bullish Elliott wave configuration and the prelude to a powerful move up. The SPX 15-minute chart courtesy of Trading View illustrates the action. Minor wave “1” is a Leading Diagonal Triangle.Continue reading “Short – Term Elliott Wave Count – 01/01/23”

Bear Panic Point

During 2022 the U.S economy suffered the highest inflation rates in 40 – years. The prior high inflation era lasted from 1968 to 1980, it’s likely the current cycle could continue for at least several years. The FOMC has been aggressively raising short – term interest rates and are likely to continue raising rates. TheContinue reading “Bear Panic Point”

Basing for a Bigger Move Up? – 12/29/22

Extraordinary high Put/Call reading may have indicated an important bottom. Today 12/29/22 one trading day after a very high Put/Call ratio, the S&P 500 (SPX) rallied close to 2%. The hourly SPX chart courtesy of Trading View illustrates a potential base that began on 12/21/22. The SPX moved above maximum Fibonacci leeway at 3,850, notedContinue reading “Basing for a Bigger Move Up? – 12/29/22”

Curious Sentiment Spikes – Part – Two

The 12/18/22 blog “Curious Sentiment Spikes” noted some fascinating sentiment signals. What happened today, 12/28/22 with the Put/Call ratio (PC) was extraordinary. The daily PC and S&P 500 (SPX) chart courtesy of Trading View shows some recent PC signals. The history of PC signals relative to the SPX since September are as follows. Investor’s BusinessContinue reading “Curious Sentiment Spikes – Part – Two”

Resistance Reached – 12/23/22

Markets are attracted to Fibonacci resistance/support areas. This websites 12/22/22 blog noted two S&P 500 (SPX) Fibonacci retracement points. At SPX 3,841.94 and 3,843.90, this resistance was reached on 12/23/22. The SPX – 15 – minute chart courtesy of Trading View shows what happened. Exact hits of Fibonacci coordinates are rare, therefore allow for leewayContinue reading ” Resistance Reached – 12/23/22″