Author Archives: Mark Rivest

S&P 500 Approaching Potential Resistance

The S&P 500 (SPX) could soon be in a price zone that the bears  aggressively defend. In warfare you can estimate where a future battle could happen based upon geographic features.  Technical analysis of markets  is similar because you can see on a price chart where there’s potential support/resistance. The 11/10/22 blog “Follow the LeaderContinue reading “S&P 500 Approaching Potential Resistance“

S&P 500 – Short – Term Elliott Wave Forecast – 11/18/22

After powerful market moves either up or down the retracements are usually shallow. The crowd recognizes the main trend and quickly use pullbacks to participate in the trend. Elliott wave – Horizontal Triangles  frequently appear in shallow corrections and could be  developing in  the S&P 500 (SPX).  Elliott wave – Horizontal Triangles  are  corrective patternsContinue reading “S&P 500 – Short – Term Elliott Wave Forecast – 11/18/22“

S&P 500 Support and Resistance 11/18/22

The 11/17/22 blog illustrated S&P 500 support/resistance using  the Volume Profile indicator on the S&P 500 – E-Mini futures – contract symbol (ESZ2022). The 11/18/22 blog updates the support/resistance areas  and gives a brief tutorial on using the Volume Profile indicator.   The 30-minute  S&P – 500 – E- Mini futures chart ESZ2022 updates theContinue reading “S&P 500 Support and Resistance 11/18/22“

S&P 500 Support and Resistance – 11/17/22

Today, 11/17/22 the S&P 500 (SPX) had some  fascinating intraday reversals  that could give hints to the  broader trend. The 15 – minute SPX chart courtesy of Trading View illustrates  the price action since the 10/13/22 bottom. Note that the SPX low on 11/17/22 was  just above a Fibonacci .236 retracement of the 10/13/22 toContinue reading “S&P 500 Support and Resistance – 11/17/22“

Price Forecast for US Stock Market Top

Since 10/13/22 the Dow Jones Industrial Average (DJI) has been the most bullish of the three main US stock indices.  In only 21 -trading days the DJI has retraced 62.1% of a nine-month decline. The Golden Fibonacci ratio of .618 or 61.8%  is frequently a support/resistance level. With a nearly precise hit of an importantContinue reading “Price Forecast for US Stock Market Top”

Time Forecast for US Stock Market Top

Fibonacci Time  analysis  could be the key to discovering an important stock market peak. Market movements can sometimes be measured by using  Fibonacci ratio analysis for either price or time.  For example, a market could have a decline lasting  70 – trading days followed by a  rally of  43 – trading days.  This would beContinue reading “Time Forecast for US Stock Market Top”

S&P 500 – Short -Term Elliott Wave Forecast – 11/11/22

This blog is an update to the S&P 500 (SPX) Elliott wave count posted on 11/09/22. The 30 – minute SPX chart courtesy of Trading View updates the action. The presumed Intermediate wave (2) bottomed on 11/03/22 and retraced almost an exact Fibonacci .50 retrace of Intermediate wave (1). The subsequent rally appears  to beContinue reading “S&P 500 – Short -Term Elliott Wave Forecast – 11/11/22“

Follow the Leader – Part Two

The 11/05/22 blog “Follow the Leader” noted that the Dow Jones Industrial Average (DJI) was the most bullish of the three main US stock indices, and to watch its 200 – day moving average (MA).  Today, 11/10/22 the DJI has decisively broken above two resistance points implying the rally could continue for several weeks. TheContinue reading “Follow the Leader – Part Two“

S&P 500 – Short -Term Elliott Wave Forecast – 11/09/22

The SPX 500 (SPX) rally  from 10/13/22 to 11/01/22  appears   to  have completed an extended Elliott wave impulse pattern. The 30 – minute SPX chart courtesy of Trading View illustrates  the action. The decline from the 11/01/22 top looks like a developing  Zigzag correction.  If so, it could complete near the 3,650 area which isContinue reading “S&P 500 – Short -Term Elliott Wave Forecast – 11/09/22“