Mark Rivest

Bullish Momentum Returns – 01-12-22

On 01/10/22 the S&P 500 (SPX) held above the rising daily trendline connecting the 12/03/21 and 12/20/21 bottoms. Today 01/12/22 the SPX pushed above the .618 Fibonacci resistance level of the 01/04/22 to 01/10/22 decline. The daily SPX chart courtesy of Trading View illustrates the recent action. Additionally, today the RSI + MA had aContinue reading “Bullish Momentum Returns – 01-12-22”

Possible Major Top in Place for US Stocks – 01- 07-22

On 01/04/22 two trading days after a new moon the S&P 500 (SPX) completed what could be an Elliott – five wave impulse pattern from the 12/03/21 bottom. It could also be the final Intermediate degree wave up from the SPX 10/30/20 bottom, this wave count has been illustrated in several blogs. The daily SPXContinue reading “Possible Major Top in Place for US Stocks – 01- 07-22”

Examination of the Dow Jones Industrial Average Top in January 1973

On 01/04/22 the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) made new all-time highs. This move invalidated a long-term Fibonacci time cycle that targeted an important DJI turn sometime in the year 2021. This time cycle was first illustrated in the 08/22/20 blog “Forecast- Bull Market Termination Date – 2021”. This timeContinue reading “Examination of the Dow Jones Industrial Average Top in January 1973”

Possible Path For US Stocks in Early 2022

If the S&P 500 (SPX) can soon make a new all-time high it could be completing an Elliott Impulse wave up from the 12/03/21 bottom. The daily SPX chart courtesy of Trading View illustrates the development of a possible five wave move up. The SPX in early 2022 could be repeating what happened to theContinue reading “Possible Path For US Stocks in Early 2022”

Mixed Picture on Final Trading Day of 2021

Bullish factors on 12/30/21 The S&P 500 (SPX) has still not reached the major Fibonacci resistance zone 4840 to 4890. Fibonacci points act as magnets then resistors. Markets are usually pulled to Fibonacci points. Failure to reach the zone opens the door for continuation of the rally into the first week of 2022. AnotherContinue reading “Mixed Picture on Final Trading Day of 2021”

Market Turns Near the Turn of a New Year

Occasionally markets could have a turn near a new year. The most logical reason for this phenomenon is to defer taxes on profits into the next year. Another factor could be if a market is approaching a support/resistance level just before or after a new year. Some examples of turns at the cusp of aContinue reading ” Market Turns Near the Turn of a New Year”

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”