Mark Rivest

Apple Inc. Leads the Way Up

The 04/02/22 blog “S&P 500 – Decline Update” noted that the rally of the S&P 500 (SPX) since 03/14/22 had been strong and steady, and that the 4590 and was the most likely resistance area. The 5-minute SPX chart courtesy of Trading View illustrates what happened on 04/04/22. Note that even on an intraday chartContinue reading “Apple Inc. Leads the Way Up”

Using Apple Inc. as a Confirming Indicator

Apple Inc. (AAPL) could be an important confirming indicator of the US stock market. The daily AAPL chart courtesy of Trading View reveals some interesting details. AAPL’s all-time high came on the same day 01/04/22 as the S&P 500 (SPX) all- time high. The subsequent decline was very choppy – the signature of a correctionContinue reading “Using Apple Inc. as a Confirming Indicator”

S&P 500 – Decline Update

The 03/31/22 blog noted that the S&P 500 (SPX) low on 03/31/22 was just above the Fibonacci .236 retracement of the rally from 03/14/22 to 03/29/22. The next day the SPX broke below the .236 support level yet failed to reach the .382 support zone. The 5 – minute SPX chart courtesy of Trading ViewContinue reading “S&P 500 – Decline Update”

Declining into Support

Today 03/31/22 the S&P 500 (SPX) closed at the low of the day in the largest and longest correction since the 03/14/22 bottom. The 15-minute SPX chart courtesy of Trading View illustrates the recent action. The 03/21/22 blog “S&P 500 – Fibonacci Time Connection Between 2010 and 2022. Illustrated that an Elliott wave – HorizontalContinue reading “Declining into Support”

Persistent Rally Continues – Part Two

On 03/28/22 the S&P 500 (SPX) moved above the Fibonacci .618 retrace level of the January to February decline. Today 03/29/22 the SPX moved above important chart resistance. The daily SPX chart courtesy of Trading View illustrates the action. The door is open for an SPX assault on the all-time high at 4818.62.

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”