Author Archives: Mark Rivest

The Bulls Strike Back

Elliott wave “fours” in standard impulse waves are normally shallow usually retracing a Fibonacci .382 of the third wave, or .382 of the movement from the start of wave “one” to the end of wave “three”.  The reason for shallow retracements  is  that at whatever time scale, a change of trend is  perceived, and counterContinue reading “The Bulls Strike Back”

Bearish Internal Momentum

The 01/24/22 blog “Something Different is  Happening” focused on what are sometimes referred to as external indicators such as price levels and moving averages, these are factors that are known to the vast majority of traders/investors. The 01/24/22 blog noted three bearish external events.  The S&P 500 (SPX) went 4.7% below its 200 – dayContinue reading “Bearish Internal Momentum”

  Choppy Rallies and Choppy Declines

Since the S&P 500 (SPX) decline bottom made on 01/24/22 the moves up have been choppy, and the moves down have been choppy. An Elliott wave – Horizontal Triangle could be forming.  This structure was examined the 01/14/22 blog “Important Cycle Point – 01-14-22” and in  the 01/19/22 blog “Horizontal Triangle Update – 01-19-22.” HorizontalContinue reading ”  Choppy Rallies and Choppy Declines”

The Next  S&P 500 – Support Level

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  the long – term Elliott wave count and the next potential support zone. The Fibonacci .236 retrace level of the SPX bull market from the March 2020 bottom is at SPX 4198.71.  Just below this is  the bottom made on 06/18/21 at 4164.40.  ThisContinue reading “The Next  S&P 500 – Support Level”

Something Different is Happening

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  the action on 01/24/22. The SPX went 4.7% below its 200 – day Moving Average (MA).  Moves of more than 2% below the 200 – day-  MA  imply something more bearish developing. At today’s low the SPX had declined 12.4% from the all-time highContinue reading “Something Different is Happening”

Two Clues That Could Confirm a Bear Market in US Stocks

The basic definition of a bull market is a series of higher tops and higher bottoms.  On 1/20/22 the S&P 500 (SPX) moved below the prior correction bottom made on 12/03/21.  This  break below important support was a significant clue that a bear market may have begun after the SPX 01/04/22 all-time high. In theContinue reading “Two Clues That Could Confirm a Bear Market in US Stocks”

Break of Important Support

Today 01/20/22 the S&P 500 (SPX) broke below the bottom made on 12/03/21, eliminating  the presumed Elliott wave – Horizontal Triangle that’s been examined in recent blogs. Something else significant happened which is  illustrated  in the daily SPX chart courtesy of Trading View. The basic definition of a bull market is a series of higherContinue reading “Break of Important Support”

Horizontal Triangle Update – 01-19-22

The presumed S&P 500 (SPX) – Elliott wave Horizontal Triangle illustrated in the 01/15/22 blog could still be forming. The daily SPX chart courtesy of Trading View shows the recent price action.  Its possible Minor wave “C” – down is  forming.  Both lines of daily Stochastic have reached the oversold zone implying  that wave “C”Continue reading “Horizontal Triangle Update – 01-19-22”

  Important Cycle Point – 01-14-22

If the S&P 500 (SPX) bottom of 4614.75 made on 01/14/22 holds, it represents an important cycle point. The daily SPX chart courtesy of Trading View illustrates the best Elliott wave count. It appears an Elliot wave – Running Horizontal Triangle may have completed on 01/14/22. In Running Horizontal Triangles – wave “B” slightly exceedsContinue reading ”  Important Cycle Point – 01-14-22″