Author Archives: Mark Rivest

The Clearest Elliott Wave Patterns – December 2021

Several blogs have illustrated that the SPDR – Consumer Staples Fund (XLP) has had one of the clearest Elliott wave patterns since the March 2020 bottom.  The 11/14/21 blog “Consumer Staples Fund on Track for Potential Major Top – December 2021” noted that XLP could have a major peak in the area  of 75.46. TheContinue reading “The Clearest Elliott Wave Patterns – December 2021”

S&P 500 Getting Close to Major Fibonacci Resistance

Today 12/27/21 the S&P 500 (SPX) made a new all-time  high and  is  nearing  a  major Fibonacci resistance level at 4889.  If within the next few trading days,  the broad target zone is reached,  it could  be one of the greatest short selling  opportunities in history!   The daily SPX chart courtesy of Trading ViewContinue reading “S&P 500 Getting Close to Major Fibonacci Resistance”

S&P 500 Could be Basing For a Year End Rally – Part Three

On 12/23/21 the S&P 500 (SPX) moved above the high made on 12/16/21, this invalidated the Elliott wave count illustrated in the 12/21/21 blog.  That wave count had the SPX 12/20/21 bottom as a supposed Minor wave “C” of a developing Elliott wave – Horizontal Triangle.  If the 12/20/21 bottom was wave “C” then theContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Three”

S&P 500 Could be Basing For a Year End Rally – Part Two

The prior blog noted the S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle correction which could be the  prelude to a year end rally .  The SPX – 60 – minute chart courtesy of Trading View updates the progress  of the presumed Horizontal Triangle. The supposed Minor wave “C” declined deeperContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Two”

S&P 500 Could be Basing For a Year End Rally

The S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle.  If so, after its completion the SPX could have surge up in the last week of 2021 to the mid-4800 area. Horizontal Triangles appear only in the fourth wave positions of motive patterns, and in the “B” or “X” wave positions ofContinue reading “S&P 500 Could be Basing For a Year End Rally”

US Stocks Could Top in Late December 2021

Todays 12/15/21 FOMC  announcement could provide fuel for a rally and possible top in late December 2021.  The S&P 500 (SPX) – 60 – minute chart courtesy of Trading View illustrates  some short- term bullish clues. Late  in the 12/15/21 SPX trading session prices  pushed above a declining trendline connecting the tops made on 11/22/21Continue reading “US Stocks Could Top in Late December 2021”

Bearish News – Bullish Reaction

On 12/10/21 the US  Consumer Price Index (CPI) was released and recorded a 39 – year high. If high inflation continues it’s  bearish for the average  US consumer, increasing  inflation tends to be greater than increasing  earnings. Inflation by itself may  not be bearish for stocks, its what happens to yields/rates that have an effectContinue reading “Bearish News – Bullish Reaction”

Slow Move Down – Fast Move Up

Common characteristics  of corrective patterns is choppiness and slowness. The recent S&P 500 (SPX) 11/22/21 to 12/03/21 decline  took approximately 58 – trading  hours. The move up from the 12/03/21 bottom has retraced  almost 80% of the  decline  in approximately  8 – hours.   The daily SPX chart courtesy of Trading View  illustrates  the  recentContinue reading “Slow Move Down – Fast Move Up”

 Choppy Stock  Decline

The 11/30/21 blog “Bearish November Omen” noted that the intraday decline of the S&P 500 (SPX) since the 11/22/21 top looked corrective.  Subsequently the SPX decline continued to look corrective.  The SPX  – 15- minute chart courtesy of BigCharts.com illustrates  the intraday action since the 11/22/21 all-time high. The easiest way to explain Elliott waveContinue reading ” Choppy Stock  Decline”