Mark Rivest

Choppy Rallies and Choppy Declines

Since the S&P 500 (SPX) decline bottom made on 01/24/22 the moves up have been choppy, and the moves down have been choppy. An Elliott wave – Horizontal Triangle could be forming. This structure was examined the 01/14/22 blog “Important Cycle Point – 01-14-22” and in the 01/19/22 blog “Horizontal Triangle Update – 01-19-22.” HorizontalContinue reading ” Choppy Rallies and Choppy Declines”

The Next S&P 500 – Support Level

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the long – term Elliott wave count and the next potential support zone. The Fibonacci .236 retrace level of the SPX bull market from the March 2020 bottom is at SPX 4198.71. Just below this is the bottom made on 06/18/21 at 4164.40. ThisContinue reading “The Next S&P 500 – Support Level”

Something Different is Happening

The daily S&P 500 (SPX) chart courtesy of Trading View illustrates the action on 01/24/22. The SPX went 4.7% below its 200 – day Moving Average (MA). Moves of more than 2% below the 200 – day- MA imply something more bearish developing. At today’s low the SPX had declined 12.4% from the all-time highContinue reading “Something Different is Happening”

Two Clues That Could Confirm a Bear Market in US Stocks

The basic definition of a bull market is a series of higher tops and higher bottoms. On 1/20/22 the S&P 500 (SPX) moved below the prior correction bottom made on 12/03/21. This break below important support was a significant clue that a bear market may have begun after the SPX 01/04/22 all-time high. In theContinue reading “Two Clues That Could Confirm a Bear Market in US Stocks”

Break of Important Support

Today 01/20/22 the S&P 500 (SPX) broke below the bottom made on 12/03/21, eliminating the presumed Elliott wave – Horizontal Triangle that’s been examined in recent blogs. Something else significant happened which is illustrated in the daily SPX chart courtesy of Trading View. The basic definition of a bull market is a series of higherContinue reading “Break of Important Support”

Horizontal Triangle Update – 01-19-22

The presumed S&P 500 (SPX) – Elliott wave Horizontal Triangle illustrated in the 01/15/22 blog could still be forming. The daily SPX chart courtesy of Trading View shows the recent price action. Its possible Minor wave “C” – down is forming. Both lines of daily Stochastic have reached the oversold zone implying that wave “C”Continue reading “Horizontal Triangle Update – 01-19-22”

Important Cycle Point – 01-14-22

If the S&P 500 (SPX) bottom of 4614.75 made on 01/14/22 holds, it represents an important cycle point. The daily SPX chart courtesy of Trading View illustrates the best Elliott wave count. It appears an Elliot wave – Running Horizontal Triangle may have completed on 01/14/22. In Running Horizontal Triangles – wave “B” slightly exceedsContinue reading ” Important Cycle Point – 01-14-22″

Bullish Momentum Returns – 01-12-22

On 01/10/22 the S&P 500 (SPX) held above the rising daily trendline connecting the 12/03/21 and 12/20/21 bottoms. Today 01/12/22 the SPX pushed above the .618 Fibonacci resistance level of the 01/04/22 to 01/10/22 decline. The daily SPX chart courtesy of Trading View illustrates the recent action. Additionally, today the RSI + MA had aContinue reading “Bullish Momentum Returns – 01-12-22”

Possible Major Top in Place for US Stocks – 01- 07-22

On 01/04/22 two trading days after a new moon the S&P 500 (SPX) completed what could be an Elliott – five wave impulse pattern from the 12/03/21 bottom. It could also be the final Intermediate degree wave up from the SPX 10/30/20 bottom, this wave count has been illustrated in several blogs. The daily SPXContinue reading “Possible Major Top in Place for US Stocks – 01- 07-22”

Examination of the Dow Jones Industrial Average Top in January 1973

On 01/04/22 the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) made new all-time highs. This move invalidated a long-term Fibonacci time cycle that targeted an important DJI turn sometime in the year 2021. This time cycle was first illustrated in the 08/22/20 blog “Forecast- Bull Market Termination Date – 2021”. This timeContinue reading “Examination of the Dow Jones Industrial Average Top in January 1973”