Mark Rivest

The Next S&P 500 – Support Level

Today 06/14/22 the S&P 500 (SPX) moved marginally below the declining daily trendline support and chart support from bottoms made in March 2021. Because the move below support was minor it could be break out fake out. On 06/15/22 the FOMC interest decision could trigger a more decisive move. If the move is down PointContinue reading “The Next S&P 500 – Support Level”

Watch the S&P 500 – Trendline – Part Two

The 06/11/22 blog “Watch the S&P 500 – Trendline” concluded with the following. “The bears are in control – important points to watch are – support zone near 3880, the 05/20/22 bottom at 3810.32, and the declining daily trendline.” The daily S&P 500 (SPX) chart courtesy of Trading View updates the action. Today 06/13/22 theContinue reading “Watch the S&P 500 – Trendline – Part Two”

“Growth” of $10,000

The speculative forces that drive Stocks and Bitcoin roughly trend together. The daily S&P 500 (SPX) and Bitcoin in US dollars (BTCUSD) courtesy of Trading View illustrates their relationship. Both made tops in early 2020 and had crash bottoms March of 2020. BTCUSD made its all-time high on 11/10/21 the SPX topped on 01/04/22. OctoberContinue reading ” “Growth” of $10,000″

Watch the S&P 500 – Trendline

This current blog was going to be a comparison of the stock bear market of 2007 to 2009 with the 2022 decline. The powerful move down of US stocks on 06/10/22 has cause that comparison to be put on hold. The 06/09/22 blog “Break of S&P 500 Support” noted that the rally after the 05/20/22Continue reading “Watch the S&P 500 – Trendline”

Break of S&P 500 Support

Today 06/09/22 the S&P 500 (SPX) broke below important support at 4073.84 which opens the door for additional decline. The SPX 30 – minute chart courtesy of Trading View illustrates the action. This chart updates the SPX 15 – minute chart illustrated in the 06/04/22 blog “Three Possible Paths for the S&P 500”. That chartContinue reading ” Break of S&P 500 Support”

The Bulls Hold Their Ground

Today 06/07/22 the S&P 500 (SPX) opened down sharply from the prior session and looked like it would break below important support. The 30 – minute SPX chart courtesy of Trading View illustrates the action. The support held, and for most of the session the SPX trended higher. The late session break above the decliningContinue reading “The Bulls Hold Their Ground”

Three Possible Paths for the S&P 500

On 06/02/22 the S&P 500 (SPX) bottomed early in the session then persistently rallied 2.5% closing the session slightly off the high of the day. Typically, in a stock bull market the next trading day would have at least marginal gains. On 06/03/22 – SPX opened the session down 1.1% and trended down during mostContinue reading “Three Possible Paths for the S&P 500”

Using Short-Term Patterns to Determine the Main Trend

The 05/31/22 blog “S&P 500 Momentum Update – 05/31/22” noted the short-term S&P 500 (SPX) price action with the following observations. “The hourly SPX high on 05/31/22 had a significant RSI bearish divergence which implies a decline could continue until at least 06/01/22. A Fibonacci .236 retrace of the SPX rally from 05/20/22 to 05/31/22.Continue reading “Using Short-Term Patterns to Determine the Main Trend”

S&P 500 Momentum Update 05/31/22

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates action of the RSI momentum indicator. The highest daily SPX closing level after the 05/20/22 bottom was made on 05/27/22 with an RSI reading of 53.72. This is higher than the reading made on 04/19/22 – the highest SPX closing level for the 04/18/22Continue reading “S&P 500 Momentum Update 05/31/22”

UK 100 Could Soon Make an All-Time High

As of 05/27/22 the US stock market represented by the S&P 500 (SPX) was 13.70% below its all-time high made on 01/04/22. On 05/27/22 the UK 100 (UKX) was 4.27% below its all-time high made on 05/22/18 and only 1.58% below its 2022 high made on 02/10/22. The 05/15/22 blog “Bullish Stock Signals From EuropeContinue reading “UK 100 Could Soon Make an All-Time High”