Mark Rivest

Short – Term Bottom Forecast

The 04/12/22 blog “S&P 500 Decline is Losing Momentum” noted that the S&P 500 (SPX) may have completed an Elliott wave – Double Zigzag correction at the 04/12/22 bottom. The first 30-minute SPX chart courtesy of Trading View illustrates a completed Double Zigzag at the 04/12/22 bottom. On 04/13/22 the SPX rallied the entire day;Continue reading “Short – Term Bottom Forecast”

S&P 500 Decline is Losing Momentum

The 30-minute S&P 500 (SPX) chart courtesy of Trading View illustrates the recent action. At the 04/12/22 low there were double bullish divergences on the 30- minute MACD and RSI. The overall drop since the 03/29/22 high is choppy and characteristic of Elliott wave – Double Zigzag corrective patterns. The SPX Bullish Percent Index brokeContinue reading “S&P 500 Decline is Losing Momentum”

Three Paths For the S&P 500 04-11-22

Today 04/11/22 the S&P 500 (SPX) broke below important support at 4450 and opened the door for three possible Elliott wave counts. Two of the counts assume a new bear market is under development. One wave count assumes the SPX drop from 03/29/22 is a correction within an ongoing bull market. The first 30Continue reading “Three Paths For the S&P 500 04-11-22”

Bull Market in US Government Treasury Yields

The chart courtesy of Trading View illustrates the yields on the 30- year US Government Treasury bonds (TYX), the 10 – year US Government Treasury notes (TNX), and the 5 – year US Government Treasury Notes (FVX). Trading View illustrates the current FVX yield as 27.56, I’ve modified the chart to show the yield atContinue reading ” Bull Market in US Government Treasury Yields”

Important Double Bottom and Top

The 04/06/22 blog “Support Reached and Breached” noted that the S&P 500 (SPX) early day bottom at 4460.00 was near two Fibonacci support points at 4463.72 at 4455.63. Later in the trading session this support was broken, and the SPX made a lower bottom at 4450.04. It appeared that this break could open the doorContinue reading “Important Double Bottom and Top”

Rally into Resistance

On 04/07/22 at mid-day the S&P 500 (SPX) declined to 4450.30 just above the 04/06/22 low at 4450.04. The SPX – 15-minute chart courtesy of Trading View illustrates the action. The subsequent rally peaked at 4521.16 almost a bulls eye hit of the Fibonacci .382 retracement of the 03/29/22 to 04/06/22 decline. The exact .382Continue reading “Rally into Resistance”

Support Reached and Breached

During the first half of the S&P 500 (SPX) 04/06/22 trading session the bottom was 4460.00, only a few points below the .382 retracement of the 03/14/22 to 03/29/22 rally. The exact level is 4463.72. There’s also a secondary Fibonacci coordinate of Minor wave “C” equaling Minor wave “A” at 4455.63. It looked as ifContinue reading “Support Reached and Breached”

Apple Inc. Leads the Way Up

The 04/02/22 blog “S&P 500 – Decline Update” noted that the rally of the S&P 500 (SPX) since 03/14/22 had been strong and steady, and that the 4590 and was the most likely resistance area. The 5-minute SPX chart courtesy of Trading View illustrates what happened on 04/04/22. Note that even on an intraday chartContinue reading “Apple Inc. Leads the Way Up”

Using Apple Inc. as a Confirming Indicator

Apple Inc. (AAPL) could be an important confirming indicator of the US stock market. The daily AAPL chart courtesy of Trading View reveals some interesting details. AAPL’s all-time high came on the same day 01/04/22 as the S&P 500 (SPX) all- time high. The subsequent decline was very choppy – the signature of a correctionContinue reading “Using Apple Inc. as a Confirming Indicator”

S&P 500 – Decline Update

The 03/31/22 blog noted that the S&P 500 (SPX) low on 03/31/22 was just above the Fibonacci .236 retracement of the rally from 03/14/22 to 03/29/22. The next day the SPX broke below the .236 support level yet failed to reach the .382 support zone. The 5 – minute SPX chart courtesy of Trading ViewContinue reading “S&P 500 – Decline Update”