Mark Rivest

How to Find Support Levels Using Fibonacci Analysis with Point & Figure Charts

Today 10/27/21 was the first significant down day for the S&P 500 (SPX) since the rally began on 10/13/21. Assuming the rally is complete the combination of Point & Figure charting and Fibonacci retracement analysis is an effective method to discover potential support levels. Point & Figure charts consist of columns of X’s and O’sContinue reading “How to Find Support Levels Using Fibonacci Analysis with Point & Figure Charts”

Examination of US Stock Market November Seasonal Patterns

This blog is the first in a series examining the November seasonal patterns of the US stock market. November is the most bullish month for US stocks, it has the greatest percentage of closing the month higher than the open than any other month. The action of the S&P 500 (SPX) in November 2020 isContinue reading ” Examination of US Stock Market November Seasonal Patterns”

Possible US Stock Market Top – December 2021

The 08/22/20 blog “Forecast – Bull Market Termination Date – 2021” illustrated a fascinating web of Fibonacci time relationships connecting major Dow Jones Industrial Average tops/bottoms going back eighty-nine years. These time relationships pointed to a potential turn in 2021. This type of time forecasts does not predict a top or a bottom, only aContinue reading “Possible US Stock Market Top – December 2021”

Comparison of Crude Oil and the US Stock Market

For several months evidence has suggested the US stock market could be approaching the end of the bull run since at least March 2020. A long-term comparison of the S&P 500 (SPX) with Crude Oil – WTI (CL2!) may give us a preview of what could happen in the next few months. The monthly CL2!Continue reading “Comparison of Crude Oil and the US Stock Market”

Hourly Bearish Divergences

Today 10/22/21 both the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) made new all-time highs breaking the “Rule of Majority” signal noted the prior blog. This is additional evidence that the intermediate path for US stocks is bullish. Shorter term momentum evidence strongly suggests a correction of recent rally is imminent. TheContinue reading “Hourly Bearish Divergences”

Potential Lunar Signal October – 2021

Occasionally full/new moons can signal market tops/bottoms. On 09/07/21 the Nasdaq Composite (IXIC) made a new all-time high unconfirmed by the other two main US stock indices, S&P 500 (SPX) and Dow Jones Industrial Average (DJI). I call this a “Rule of the Majority” signal – when one of the three main stock indices makesContinue reading “Potential Lunar Signal October – 2021”

Short – Term Target of Opportunity

The “S&P 500 Near Important Support 10-14-21” blog noted the S&P 500 (SPX) was near overhead and Fibonacci resistance in the SPX 4440 to 4465 area. Subsequently the SPX pushed above the resistance and has now reached the final resistance zone of the 09/02/21 to 10/04/21 decline. Trading View has an index called SPX500 whichContinue reading “Short – Term Target of Opportunity”

NYSE Composite Leads the Way

In the prior two trading days the NYSE Composite (NYA) has blasted up to near its all-time high made on 09/02/21. The daily NYA chart courtesy of Trading View illustrates its recent action. Note the RSI is now above the level recorded at 09/02/21, this is a bullish divergence and implies the bull trend couldContinue reading “NYSE Composite Leads the Way”

Bullish Breakout 10-15-21

The 10/14/21 blog noted that the S&P 500 (SPX) was near an important resistance zone that went up to SPX 4465.40. On 10/15/21 the SPX punched through this resistance zone which opens the door for a move up to at least the all-time high made on 09/02/21. The daily SPX chart courtesy of Trading ViewContinue reading “Bullish Breakout 10-15-21”

S&P 500 Near Important Resistance 10-14-21

Today 10/14/21 the S&P 500 (SPX) rallied to just below important resistance. Fibonacci .618 retrace of the 09/02/21 to 10/04/21 decline. Maximum volume using the Market Profile method on S&P 500 E-Mini futures is near the .618 retracement. Broad chart overhead resistance. The SPX 60 – minute chart courtesy of Trading View illustrates the actionContinue reading “S&P 500 Near Important Resistance 10-14-21”