Mark Rivest

Important S&P 500 Support

There’s a double bottom in the S&P 500 (SPX) 4470.00 area. This corresponds with daily volume profile support on the S&P 500 – December 2021 E- Mini futures contract. The 15- minute SPX chart courtesy of Trading View illustrates the support zone. If the SPX breaks below 4468.99 there’s no significant chart support until theContinue reading ” Important S&P 500 Support”

New Moon Bearish Signal 09-07-21

On 09/07/21 the Nasdaq Composite (IXIC) made a new all-time high unconfirmed by the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI). I refer to this as a “Rule of the majority” signal. When one of the three main US stock indices makes a new high/low unconfirmed by the other two main indices,Continue reading “New Moon Bearish Signal 09-07-21”

Comparing the S&P 500 – 1994 to 1996 with 2020 to 2021

The current S&P 500 (SPX) bull phase that began in March 2020 has been relentless with only tiny pull backs and only one 10% correction. The last time a similar phenomenon occurred was the SPX bull market from late 1994 to mid – 1996. The daily SPX chart 1994 to 1996 courtesy of TradingContinue reading “Comparing the S&P 500 – 1994 to 1996 with 2020 to 2021”

Short-Term S&P 500 Elliott Wave Count 09-02-21

The S&P 500 (SPX) 15-minute chart courtesy of Trading View illustrates a probable short-term Elliott wave count. The action since the SPX 08/30/21 high has been a choppy sideways move and appears to be a completed Elliott wave – Horizontal Triangle. After completion of this structure there’s usually a sharp thrust in the direction ofContinue reading “Short-Term S&P 500 Elliott Wave Count 09-02-21”

Fibonacci Price Extensions

During the last six years there have been two Fibonacci price extensions that have precisely forecasted important S&P 500 (SPX) tops. Perhaps a third Fibonacci price extension could soon forecast another SPX peak. The weekly SPX chart courtesy of Trading View illustrates the 2015 top. A 1.618 Fibonacci extension of the SPX 2007 to 2009Continue reading “Fibonacci Price Extensions”

S&P 500 – Alternate Elliott Wave Count 08-27-21

The S&P 500 (SPX) rally on 08/27/21 pushed beyond the leeway of major Fibonacci resistance at SPX 4437.63. This potential resistance level was first discussed in the 07/05/21 blog “The Next S&P 500 Resistance Level”. This Fibonacci point was derived by taking the growth rate of the March 2009 to April 2010 rally – presumedContinue reading “S&P 500 – Alternate Elliott Wave Count 08-27-21”

New – 52 – Week High Update 08-27-21

Today 8/27/21 both the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs. The Daily NYSE – New 52 – Week Highs chart ($NYHGH) courtesy of StockCharts.com updates the activity of this indicator. The move today above the level recorded on 08/25/21 is mildly bullish. If next week there’s a move above 314Continue reading “New – 52 – Week High Update 08-27-21”

Time is the Most Important Factor

Yesterday 08/25/21 was the thirty – fourth anniversary of the US stock market top that preceded the 1987 global stock market crash. On 08/25/21 both the S&P 500 (SPX) and Nasdaq Composite (IXIC) made new all-time highs. Today 08/26/21 the IXIC made a marginal new all-time high unconfirmed by the SPX and Dow Jones IndustrialContinue reading “Time is the Most Important Factor”

US Stocks at Maximum Resistance?

On 08/20/21 the US stock market as measured by September S&P 500 E-Mini Futures contract (ESU2021) may have reached a maximum resistance area. If so, an important secondary top could be in place. A key aspect of the ”Market Profile” method is discovery of support/resistance zones. This can be achieved by examining either price orContinue reading “US Stocks at Maximum Resistance?”

Examination of the August 2015 – Mini Crash

During the last few months, the US stock market has had a deterioration of internal momentum. Something similar happened in 2015, except then the US main stock indices went sideways forming a double top. The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the action from 2014 to 2016. The SPX madeContinue reading “Examination of the August 2015 – Mini Crash”