Mark Rivest

Nasdaq Composite – Elliott Wave Count

Both the S&P 500 and the Dow Jones Industrial Average 2022 bear moves from their respective all-time highs have the look of Elliott wave corrective patterns. The Nasdaq Composite (IXIC) and the Nasdaq 100 (NDQ) declines from November 2021 to October 2022 appear to be Elliott wave motive patterns. In particular extended Impulse waves. IfContinue reading “Nasdaq Composite – Elliott Wave Count”

Avis Budget Group is Near a Buy Point

Investor’s Business Daily (IBD) has Avis Budget Group Inc. (CAR) on its lists of stocks nearing a buy point. IBD uses the “Cup with handle” formation to identify entry points. The daily chart of CAR courtesy of Trading View illustrates the stock’s recent history. The buy point is just above the cup high at 246.42Continue reading ” Avis Budget Group is Near a Buy Point”

Elliott – Motive and Corrective Waves

Elliott wave theory has two basic modes – Motive waves which move with the primary trend and Corrective waves which are corrections to the primary trend. There are three variations of Motive waves and ten variations of Corrective waves. This blog can serve as an aid to differentiating between Motive and Corrective patterns even withoutContinue reading ” Elliott – Motive and Corrective Waves”

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“