Mark Rivest

Bullish Break Out – 07/20/22

Today 07/20/22, the S&P 500 (SPX) broke above resistance created by a double top made on 06/10/22 at 3943.17 and 06/28/22 at 3945.86. The SPX high on 07/20/22 was 3974.13 and 30.96 points above the 06/28/22 peak. When the SPX broke above the 06/10/22 top on 06/28/22 it was only able to exceed the priorContinue reading “Bullish Break Out – 07/20/22”

S&P 500 – Near Important Resistance 07/19/22

The S&P 500 (SPX) high on 07/19/22 was 3,939.81, just below a double peak. If the SPX can decisively break above this resistance it could open the door for a move up to the 4,100 area. The SPX – 15 – minute chart courtesy of Trading View illustrates the action. On 06/10/22 the SPX madeContinue reading “S&P 500 – Near Important Resistance 07/19/22”

Philippine Stock Exchange Index Bullish Signals

In the short – term the Philippine Stock Exchange Index (PSEI) has been relatively weaker than the S&P 500 (SPX). The SPX recent bottom came on 06/17/22, the PSEI didn’t bottom until 06/23/22. On 07/15/22 the PSEI appeared to be on track to make a new 2022 low, the rally on 07/18/22 appears to haveContinue reading “Philippine Stock Exchange Index Bullish Signals”

Slow Rise

From January to June 2022 the three main US stock indices were in a steady downtrend creating an oversold condition. Could July 2022 also be another down month for US stocks? Evidence continues to suggest a multi-week rally is developing. The monthly S&P 500 (SPX) chart courtesy of Trading View illustrates long-term momentum. This chartContinue reading ” Slow Rise”

A Full Moon and Trendlines

Occasionally markets can turn on or near Full or New Moons. For stocks Full Moons tend to signal bottoms, New Moons tend to signal tops. There’s a Full Moon on 07/13/22. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates New and Full Moons since late 2021. Using the parameters of plus orContinue reading “A Full Moon and Trendlines”

Crude Oil Trading Range

Since March 2022 Crude Oil has been in a trading range between 126.00 and 92.00. Momentum signals and seasonal patterns suggest a new uptrend may have begun. The daily Crude Oil chart – (CL2!) – continuous next futures contract in front – courtesy of Trading View illustrates the trading range. First note the double bottomContinue reading “Crude Oil Trading Range”

Long-Term Momentum Implies a Multi-Week Stock Rally

The decline in US stocks from January 2022 to June has brought weekly and monthly Stochastics into the oversold zone. The rally since the late June bottom could ease the oversold condition. Action from the S&P 500 (SPX) October 2007 to March 2009 bear market gives clues as to how long a post June 2022Continue reading “Long-Term Momentum Implies a Multi-Week Stock Rally”

Philippine Stock Exchange Index – Daily Analysis

The Philippine Stock Exchange Index (PSEI) declined from February to June 2022. The daily PSEI chart courtesy of Trading View illustrates the action. The bottom made on 06/23/22 is referred to as a confirmed bottom, meaning the price low was confirmed by momentum indicators. Note that the Stochastic, RSI, and MACD were at or veryContinue reading “Philippine Stock Exchange Index – Daily Analysis”

Important S&P 500 – Support Levels

At the 06/17/22 bottom the S&P 500 (SPX) had declined 24%, this is second largest percentage decline since the 2007 to 2009 bear market. The largest percentage drop was the February to March 2020 crash of 35%. The 06/18/22 blog “Dow Jones Industrial Average Long – Term Time Forecast” implied that the early January 2022Continue reading “Important S&P 500 – Support Levels”

Nasdaq Composite Update – June 30, 2022

The 06/27/22 blog “S&P 500 Could Rally to 4,100” noted that a break above S&P 500 (SPX) resistance in the 3940 area could open a move to moderate resistance at 4,020 and possibly 4,100. On 06/28/22 the SPX marginally broke above 3,940 and then declined. The SPX broke below support that was noted at 3,890,Continue reading “Nasdaq Composite Update – June 30, 2022”