Mark Rivest

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”

Breaking Through Resistance – Part -Two

So far the S&P 500 (SPX) has been able to have two daily closes above the 200 – day moving average (MA). This was probably a factor in bringing in buying at the open of the 12/02/22 session. There’s still one potential resistance barrier to overcome – the declining trendline from the January 2022 all-timeContinue reading “Breaking Through Resistance – Part -Two”

Additional Bullish Evidence – 12/02/22

The S&P 500 (SPX) 12/01/22 to 12/02/22 decline has given several clues that the rally from mid – October is likely to continue. The 5 – minute chart courtesy of Trading View illustrates the action. The drop from 4,100 has the look of an Elliott wave – Zigzag correction. The decline so far has retracedContinue reading “Additional Bullish Evidence – 12/02/22”

Breaking Through Resistance – 11/30/22

Today 11/30/22 the S&P 500 (SPX) broke above the 11/25/22 peak and the 200 – day moving average (MA). This move could trigger fund managers into additional stock purchases. The daily SPX chart courtesy of Trading View illustrates the action. The next resistance is the declining trendline from the January 2022 top. A move aboveContinue reading “Breaking Through Resistance – 11/30/22”