Author Archives: Mark Rivest

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”

S&P 500 Reaches Important Support Level – 11-26-21

On 11/26/21 the report of a new Coronavirus variant triggered a global stock market selloff.  The UK – 100 Index (UKX) was down 3.64%. The German Stock Index (DEU) was down 4.15%. The Hang Seng Index down 2.67% and the Nikkei 225 Index (NI225) was down 2.53%. The US stock market as measured by theContinue reading “S&P 500 Reaches Important Support Level – 11-26-21”

Bearish Rumbling Underneath the Stock Market Surface – 11-22-21

The 10/03/21 blog “Struggling  to Go Lower – Part Three” noted  the S&P 500 (SPX) on 10/01/21 went below the bottom made on 08/19/21. However, there were less NYSE – new 52 – week lows ($NYLOW) on 10/01/21 than on 08/19/21 – a  bullish signal.  The 10/03/21 blog also mention that while October was seasonallyContinue reading “Bearish Rumbling Underneath the Stock Market Surface – 11-22-21”

S&P 500 on Track for Potential Major Top – December 2021

The 10/24/21 blog “Possible US Stock Market Top – December 2021” focused on long-term Fibonacci time cycles  that indicated US stocks could have a major top sometime in December 2021.  The 11/10/21 blog “Possible S&P 500 – Price Topping Zone”  illustrated long -term Fibonacci price analysis  forecasting the S&P 500 (SPX) could have major resistanceContinue reading “S&P 500 on Track for Potential Major Top – December 2021”