Mark Rivest

Bearish Counterattack – 01/18/23

Since 1/12/23 the bulls have been on the verge of breaking above important resistance near S&P 500 (SPX)– 4,000. Today 01/18/23 The bears held the line and counterattacked with strong selling throughout most of the session. The start of a multi- week bear phase? One indicator could soon give us the answer. The prior blogContinue reading “Bearish Counterattack – 01/18/23”

Short- Term Momentum Update – 01/13/23

When markets are in a steadily rising trend, bearish momentum divergences will emerge which could later be invalidated. This phenomenon is occurring with the S&P 500 (SPX). The 15 -minute SPX chart courtesy of Trading View illustrates its short-term trend. Recent blogs on this website have illustrated that both the SPX – 15 –Continue reading “Short- Term Momentum Update – 01/13/23”

Rare Bullish Momentum Signal

During the trading week ending 01/13/23 the NYSE – Advance/Decline line ($NYAD) had a bullish reading that’s only occurred four times in times the last fourteen – years. The implications of this signal could mean U.S stocks rally into March/April 2023. The weekly $NYAD chart courtesy of StockCharts.com illustrates the action since January 2007.Continue reading “Rare Bullish Momentum Signal”

At the Bear Panic Point

Today 0/12/23 the S&P 500 (SPX) broke above Fibonacci resistance in the 3,970 area then reached the bear panic point close to 4,000. While short-term momentum continues to suggest a small decline, longer-term momentum implies a rally that could last for several weeks. The daily SPX chart courtesy of Trading View updates the action. TheContinue reading “At the Bear Panic Point”

Nearing the Bear Panic Point

The S&P 500 (SPX) is close to the declining trendline from the January 2022 top and the 200 – day moving average (MA). A move above this important resistance could trigger massive, short covering and bring in new long side trader’s. The panic point is around SPX – 4,000. Daily momentum suggests a move aboveContinue reading “Nearing the Bear Panic Point”

UK 100 Upside Breakthrough

Last week the UK 100 (UKX) broke above its 2022 high, becoming the first major national stock index to exceed its 2022 peak. The UKX could help in detecting a global stock market top sometime in early 2023. The 11/03/22 blog “Bullish Evidence From the United Kingdom Stock Market” illustrated that the UKX –Continue reading “UK 100 Upside Breakthrough”

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”