Today 05/04/22 the FOMC again raised interest rates, and US stocks had a big rally. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the action. Daily RSI after recording a bullish divergence had a bullish cross over of its moving average line. This new piece of bullish evidence adds to the considerableContinue reading “US Stocks Up on Bearish News”
Author Archives: Mark Rivest
Long – Term S&P 500 – Elliott Wave Count 05-03-22
The S&P 500 (SPX) rally from 05/02/22 to 05/03/22 looks like a corrective pattern which implies the SPX could go below the 05/02/22 bottom. The monthly SPX chart courtesy of Trading View illustrates the long- term Elliott wave count. Within Elliott motives waves there’s usually a Fibonacci relationship between waves “two” and “four”. The SPXContinue reading “Long – Term S&P 500 – Elliott Wave Count 05-03-22”
US Stock Market Momentum and Sentiment – Part Two – 05-02-22
Today 05/02/22 the S&P 500 (SPX) went below its 02/24/22 bottom eliminating the bullish divergence of only the Nasdaq Composite (IXIC) making new decline lows. While eliminating the bullish divergence there are others made by the new SPX low. The combined daily SPX and VIX chart courtesy of Trading View illustrates the bullish divergences. TheContinue reading “US Stock Market Momentum and Sentiment – Part Two – 05-02-22”
US Stock Market Momentum and Sentiment 04-29-22
On 04/29/22 the US Stock market represented by the three main stock indices; S&P 500 (SPX), Dow Jones Industrial Average (DJI), and Nasdaq Composite (IXIC) wiped out a powerful rally made on 04/28/22. Could this be the start of a crash? Perhaps, anything is possible. However, a review of momentum and sentiment readings for USContinue reading “US Stock Market Momentum and Sentiment 04-29-22 “
Examination of the Weakest Main US Stock Index
From 04/21/22 to 04/27/22 the main US stock indices, Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 (SPX) had a powerful and sharp drops. Today 04/28/22 the US Gross domestic product report indicated a 1.4% contraction in the first quarter of 2022. All three main US stock indices rallied strongly on theContinue reading “Examination of the Weakest Main US Stock Index”
Sharp Stock Reversal – Part – Three
Objectivity is the most important trait that traders must have. Traders objectively analyze the balance of evidence before acting. If the evidence indicates a market/stock could rise – it does rally but is subsequently quickly reversed, then conditions have change. If conditions changed, then you must objectively view the new evidence produced from the change.Continue reading “Sharp Stock Reversal – Part – Three”
Sharp Stock Reversal – Part – Two
Today 04/22/22 the powerful stock decline that began 04/21/22 continued through the entire trading session. Today at the S&P 500 (SPX) open, traders sold half of a 50% long position on non-leveraged SPX related funds. The long entry was at the open of the SPX 04/18/22 session. SPX open price on 04/18/22 was 4385.63. SPXContinue reading “Sharp Stock Reversal – Part – Two”
Sharp Stock Reversal
Today 04/21/22 the S&P 500 (SPX) opened above the high made on 04/20/22. The rally lasted only 21 – minutes, what followed was steep drop that continued throughout the trading day. The few rally attempts were shallow, the bears dominated. The 5 – Minute SPX chart courtesy of Trading View illustrates the action. The rallyContinue reading “Sharp Stock Reversal”
Possible S&P 500 – Full Moon Bottom 04-18-22
There was a Full Moon on Saturday 04/16/22, using a leeway of plus two trading days targeted either 04/18/22 or 04/19/22 for a possible S&P 500 (SPX) bottom. On 04/18/22 the SPX made a new low of the decline that began on 03/29/22. The low for the day was 4370.30, main Fibonacci support noted inContinue reading “Possible S&P 500 – Full Moon Bottom 04-18-22”
Stock Market Bears are Losing the Battle
In Elliott wave theory the most powerful bullish or bearish formation is referred to as a series of “one’s” and “two’s.” In a bull market, using standard technical chart patterns this would be a rally followed by a base, then another rally/base. The rally after the second base is usually enormously powerful and dynamic. TheContinue reading “Stock Market Bears are Losing the Battle”
Four Dimension Trading 