Author Archives: Mark Rivest

   “Growth” of $10,000

The speculative forces  that drive Stocks  and  Bitcoin roughly trend together. The daily S&P 500 (SPX) and Bitcoin in US dollars (BTCUSD) courtesy of Trading View illustrates their relationship. Both made tops in early 2020 and had crash bottoms March of 2020.  BTCUSD made its all-time high on 11/10/21 the SPX topped on 01/04/22. OctoberContinue reading ”   “Growth” of $10,000″

  Break of S&P 500 Support

Today 06/09/22 the S&P 500 (SPX) broke below important support at 4073.84 which opens the door for additional decline. The SPX 30 – minute chart courtesy of Trading  View illustrates the action. This  chart updates the SPX 15 – minute chart  illustrated in the 06/04/22 blog “Three Possible Paths for the S&P 500”.  That chartContinue reading ”  Break of S&P 500 Support”

The Bulls Hold Their Ground

Today 06/07/22 the S&P 500 (SPX) opened down sharply from the prior session and looked like it would break below important support. The 30 – minute SPX chart courtesy of Trading View illustrates  the action. The support held, and for most of the session the SPX trended higher.  The late session break above the decliningContinue reading “The Bulls Hold Their Ground”

Three Possible Paths for the S&P 500

On 06/02/22 the S&P 500 (SPX) bottomed early in the session then persistently rallied 2.5% closing the session slightly off the high of the day.  Typically, in a stock bull market   the next trading day would have at least marginal gains.  On 06/03/22 – SPX  opened the session down 1.1% and  trended down during  mostContinue reading “Three Possible Paths for the S&P 500”

Using Short-Term Patterns to Determine the Main Trend

The 05/31/22 blog “S&P 500  Momentum Update – 05/31/22” noted the short-term S&P 500 (SPX) price action with the following observations. “The hourly SPX high on 05/31/22 had a significant RSI bearish divergence  which implies  a decline could  continue until at least 06/01/22. A  Fibonacci .236 retrace of the SPX rally from 05/20/22 to 05/31/22.Continue reading “Using Short-Term Patterns to Determine the Main Trend”

S&P 500 Momentum Update 05/31/22

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates  action of the RSI momentum indicator. The highest daily SPX closing level after the 05/20/22 bottom was made on 05/27/22 with an RSI reading of 53.72.  This  is  higher than the reading  made on 04/19/22 – the highest SPX closing level for the 04/18/22Continue reading “S&P 500 Momentum Update 05/31/22”

UK 100 Could Soon Make an All-Time High

As of 05/27/22 the US stock market represented by the S&P 500 (SPX) was 13.70% below its all-time high made on 01/04/22.  On 05/27/22  the UK 100 (UKX) was 4.27% below its all-time high made on 05/22/18 and only 1.58% below its 2022 high made on 02/10/22. The 05/15/22 blog “Bullish Stock Signals  From EuropeContinue reading “UK 100 Could Soon Make an All-Time High”

Examination of Two Major Bear Markets

The US stock market  declines  from 1929 to 1932 and 2000 to 2002 reveal clues  that could be helpful in determining  stock actions in 2022. The basic  principle of Elliott wave theory is  that progress  is made in five -waves and corrected in three waves.  There are three types of corrective patterns, Zigzag, Flat, andContinue reading “Examination of Two Major Bear Markets”