Mark Rivest

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”

Declining into Support

Today 03/31/22 the S&P 500 (SPX) closed at the low of the day in the largest and longest correction since the 03/14/22 bottom. The 15-minute SPX chart courtesy of Trading View illustrates the recent action. The 03/21/22 blog “S&P 500 – Fibonacci Time Connection Between 2010 and 2022. Illustrated that an Elliott wave – HorizontalContinue reading “Declining into Support”

Persistent Rally Continues – Part Two

On 03/28/22 the S&P 500 (SPX) moved above the Fibonacci .618 retrace level of the January to February decline. Today 03/29/22 the SPX moved above important chart resistance. The daily SPX chart courtesy of Trading View illustrates the action. The door is open for an SPX assault on the all-time high at 4818.62.

Persistent Rally Continues

The 03/23/22 blog “Potential S&P 500 – Support Zones” noted that a shallow bottom could be made soon – perhaps in one or two trading days. As it turned out a bottom was already in place on 03/23/22 as the S&P 500 (SPX), the Nasdaq Composite and Dow Jones Industrial Average have subsequently made newContinue reading “Persistent Rally Continues”

Potential S&P 500 – Support Zones

On a daily chart the S&P 500 (SPX) move up from the 03/14/22 bottom was fast and steep. The reason is because shortly after a significant bottom has been recognized , traders are eager to establish long positions. The SPX move off of the 03/23/2020 bottom is a classic example of a move up afterContinue reading “Potential S&P 500 – Support Zones”

Short – Term Top Could be in Place 03-22-22

On 03/22/22 the S&P 500 (SPX) may have completed a short-term top. The 15-minute SPX chart courtesy of Trading View illustrates the short -term Elliott wave count. There’s a five – wave impulse pattern up from the presumed Primary wave “4” Horizontal Triangle termination point. Within the five-wave structure Minor wave “5” is close 50%Continue reading ” Short – Term Top Could be in Place 03-22-22″

S&P 500 – Fibonacci Time Connection Between 2010 and 2022

The 03/15/22 blog “S&P500 – Fibonacci Time Analysis 03-15-22” noted that there could be a Fibonacci time relationship between the S&P 500 (SPX) presumed Primary wave “2” decline April to June 2010 with the SPX January to March 2022 Primary wave “4” decline. On 03/15/22 it looked like the SPX decline from 01/04/22 was anContinue reading “S&P 500 – Fibonacci Time Connection Between 2010 and 2022”

Diverging Trendlines

The main characteristic of an Elliott wave – Ending Diagonal Triangle is it’s wedge shape between converging trendlines. The supposed S&P 500 (SPX) Ending Diagonal Triangle (EDT) from the 01/04/22 peak now has diverging trendlines. The daily SPX chart courtesy of Trading View illustrates the recent action. Could an Expanding – EDT be forming –Continue reading ” Diverging Trendlines”

Trendline Break Through

Today 03/17/22 the S&P 500 (SPX) continued to move above the trendline connecting the supposed wave “two” top – 02/09/22 with the supposed wave “four” top – 03/03/22 of a presumed Elliott wave Ending Diagonal Triangle from the all-time high on 01/04/22. The daily SPX chart courtesy of Trading View illustrates the declining trendlines. TheContinue reading ” Trendline Break Through”

S&P 500 – Fibonacci Time Analysis 03-15-22

Its possible that the S&P 500 (SPX) decline from the 01/04/22 all-time high could be part of Primary wave “4” of an Elliott – five wave impulse pattern that began in March 2009. Fibonacci time analysis of the SPX presumed Primary wave “2” that occurred in 2010 offers some fascinating clues to what could happenContinue reading “S&P 500 – Fibonacci Time Analysis 03-15-22”