Mark Rivest

Persistent Rally Continues

The 03/23/22 blog “Potential S&P 500 – Support Zones” noted that a shallow bottom could be made soon – perhaps in one or two trading days. As it turned out a bottom was already in place on 03/23/22 as the S&P 500 (SPX), the Nasdaq Composite and Dow Jones Industrial Average have subsequently made newContinue reading “Persistent Rally Continues”

Potential S&P 500 – Support Zones

On a daily chart the S&P 500 (SPX) move up from the 03/14/22 bottom was fast and steep. The reason is because shortly after a significant bottom has been recognized , traders are eager to establish long positions. The SPX move off of the 03/23/2020 bottom is a classic example of a move up afterContinue reading “Potential S&P 500 – Support Zones”

Short – Term Top Could be in Place 03-22-22

On 03/22/22 the S&P 500 (SPX) may have completed a short-term top. The 15-minute SPX chart courtesy of Trading View illustrates the short -term Elliott wave count. There’s a five – wave impulse pattern up from the presumed Primary wave “4” Horizontal Triangle termination point. Within the five-wave structure Minor wave “5” is close 50%Continue reading ” Short – Term Top Could be in Place 03-22-22″

S&P 500 – Fibonacci Time Connection Between 2010 and 2022

The 03/15/22 blog “S&P500 – Fibonacci Time Analysis 03-15-22” noted that there could be a Fibonacci time relationship between the S&P 500 (SPX) presumed Primary wave “2” decline April to June 2010 with the SPX January to March 2022 Primary wave “4” decline. On 03/15/22 it looked like the SPX decline from 01/04/22 was anContinue reading “S&P 500 – Fibonacci Time Connection Between 2010 and 2022”

Diverging Trendlines

The main characteristic of an Elliott wave – Ending Diagonal Triangle is it’s wedge shape between converging trendlines. The supposed S&P 500 (SPX) Ending Diagonal Triangle (EDT) from the 01/04/22 peak now has diverging trendlines. The daily SPX chart courtesy of Trading View illustrates the recent action. Could an Expanding – EDT be forming –Continue reading ” Diverging Trendlines”

Trendline Break Through

Today 03/17/22 the S&P 500 (SPX) continued to move above the trendline connecting the supposed wave “two” top – 02/09/22 with the supposed wave “four” top – 03/03/22 of a presumed Elliott wave Ending Diagonal Triangle from the all-time high on 01/04/22. The daily SPX chart courtesy of Trading View illustrates the declining trendlines. TheContinue reading ” Trendline Break Through”

S&P 500 – Fibonacci Time Analysis 03-15-22

Its possible that the S&P 500 (SPX) decline from the 01/04/22 all-time high could be part of Primary wave “4” of an Elliott – five wave impulse pattern that began in March 2009. Fibonacci time analysis of the SPX presumed Primary wave “2” that occurred in 2010 offers some fascinating clues to what could happenContinue reading “S&P 500 – Fibonacci Time Analysis 03-15-22”

The Infamous Death Cross

When the 50 – day Moving Average (MA) line crosses beneath the 200 – day – MA it’s called a Death Cross – bearish signal. When the 50 – day – MA crosses above the 200 – day – MA it’s called a Golden Cross – bullish signal. Recently the Dow Jones Industrial Average andContinue reading “The Infamous Death Cross”

Detailed Examination of an Ending Diagonal Triangle

The prior blog illustrated a presumed Elliott wave – Expanding Flat correction for the S&P 500 (SPX) that’s been developing since November 2021. This blog zooms in on the third part of the Expanding Flat. This phase began at the all-time high in early January 2022 and appears to be an Elliott wave – EndingContinue reading “Detailed Examination of an Ending Diagonal Triangle”

Expanding Flat Could be Nearing Completion

Elliott Wave – Ending Diagonal Triangles (EDT) are termination patterns that appear only in the fifth wave positions of motive waves and in wave “C” of corrective waves. They frequently show up in the “C” wave of Expanding Flats. The hourly S&P 500 (SPX) chart courtesy of Trading View illustrates an Expanding Flat that beganContinue reading “Expanding Flat Could be Nearing Completion”