Mark Rivest

Support Broken – 12/22/22

Today, 12/22/22 all three main U.S stock indices broke below an important bottom made on 12/20/22. In the first half of todays trading session the bears were totally in control, smashing prices relentlessly lower. It appeared the trend could be down the entire session, with the low of the day coming near or at theContinue reading ” Support Broken – 12/22/22″

S&P 500 – Bottoms at Support Level

The 12/17/22 blog “The Bear is Back – Part Two” illustrated two S&P 500 (SPX) Fibonacci support levels at 3,806.29 and 3,796.27. On 12/20/22 the SPX bottomed almost exactly at the lower level. The daily SPX chart courtesy of Trading View shows what happened. An exact Fibonacci .50 retracement of the SPX October to DecemberContinue reading “S&P 500 – Bottoms at Support Level”

Curious Sentiment Spikes

Recent movements in the S&P 500 Volatility Index (VIX) and the Put/Call ratio (PC) reveal some fascinating signals. The daily VIX and S&P 500 (SPX) chart courtesy of Trading View show a short- term signal and examples of intermediate – term signals. First a short – term signal. Note that on 12/12/22 the SPX hadContinue reading “Curious Sentiment Spikes”

The Bear is Back – Part Two

Within the first ten – minutes of the S&P 500 (SPX) session on 12/16/22 there were two bottoms made. The first was at almost exactly 3,868.18 which was Fibonacci support noted in this websites prior blog. The second bottom was at 3,863.74. Subsequently there was a rally that lasted ten – minutes, the SPX thenContinue reading “The Bear is Back – Part Two”

The Bear is Back

Today 12/15/22 the S&P 500 (SPX) broke below an important bottom made on 11/17/22 at 3,906.54. Additionally, the decline from 4,100 appears to be a developing Elliott Impulse wave which implies the primary trend may now be bearish. The daily SPX chart courtesy of Trading View illustrates the intermediate – term view. The SPX brokeContinue reading “The Bear is Back”

Fake Out Moves

The actions of US stocks during the week of 12/05/22 to 12/09/22 demonstrated several fake out moves. The 12/07/22 blog noted that the S&P 500 (SPX) broke important support at 3,937.64 and that the first wave down of a larger bear move may have begun. The 12/08/22 blog illustrated that the NYSE Composite (NYA) hadContinue reading “Fake Out Moves”

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”