Mark Rivest

Possible Path For US Stocks in Early 2022

If the S&P 500 (SPX) can soon make a new all-time high it could be completing an Elliott Impulse wave up from the 12/03/21 bottom. The daily SPX chart courtesy of Trading View illustrates the development of a possible five wave move up. The SPX in early 2022 could be repeating what happened to theContinue reading “Possible Path For US Stocks in Early 2022”

Mixed Picture on Final Trading Day of 2021

Bullish factors on 12/30/21 The S&P 500 (SPX) has still not reached the major Fibonacci resistance zone 4840 to 4890. Fibonacci points act as magnets then resistors. Markets are usually pulled to Fibonacci points. Failure to reach the zone opens the door for continuation of the rally into the first week of 2022. AnotherContinue reading “Mixed Picture on Final Trading Day of 2021”

Market Turns Near the Turn of a New Year

Occasionally markets could have a turn near a new year. The most logical reason for this phenomenon is to defer taxes on profits into the next year. Another factor could be if a market is approaching a support/resistance level just before or after a new year. Some examples of turns at the cusp of aContinue reading ” Market Turns Near the Turn of a New Year”

The Clearest Elliott Wave Patterns – December 2021

Several blogs have illustrated that the SPDR – Consumer Staples Fund (XLP) has had one of the clearest Elliott wave patterns since the March 2020 bottom. The 11/14/21 blog “Consumer Staples Fund on Track for Potential Major Top – December 2021” noted that XLP could have a major peak in the area of 75.46. TheContinue reading “The Clearest Elliott Wave Patterns – December 2021”

S&P 500 Getting Close to Major Fibonacci Resistance

Today 12/27/21 the S&P 500 (SPX) made a new all-time high and is nearing a major Fibonacci resistance level at 4889. If within the next few trading days, the broad target zone is reached, it could be one of the greatest short selling opportunities in history! The daily SPX chart courtesy of Trading ViewContinue reading “S&P 500 Getting Close to Major Fibonacci Resistance”

S&P 500 Could be Basing For a Year End Rally – Part Three

On 12/23/21 the S&P 500 (SPX) moved above the high made on 12/16/21, this invalidated the Elliott wave count illustrated in the 12/21/21 blog. That wave count had the SPX 12/20/21 bottom as a supposed Minor wave “C” of a developing Elliott wave – Horizontal Triangle. If the 12/20/21 bottom was wave “C” then theContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Three”

S&P 500 Could be Basing For a Year End Rally – Part Two

The prior blog noted the S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle correction which could be the prelude to a year end rally . The SPX – 60 – minute chart courtesy of Trading View updates the progress of the presumed Horizontal Triangle. The supposed Minor wave “C” declined deeperContinue reading “S&P 500 Could be Basing For a Year End Rally – Part Two”

S&P 500 Could be Basing For a Year End Rally

The S&P 500 (SPX) could be forming an Elliott wave – Horizontal Triangle. If so, after its completion the SPX could have surge up in the last week of 2021 to the mid-4800 area. Horizontal Triangles appear only in the fourth wave positions of motive patterns, and in the “B” or “X” wave positions ofContinue reading “S&P 500 Could be Basing For a Year End Rally”

US Stocks Could Top in Late December 2021

Todays 12/15/21 FOMC announcement could provide fuel for a rally and possible top in late December 2021. The S&P 500 (SPX) – 60 – minute chart courtesy of Trading View illustrates some short- term bullish clues. Late in the 12/15/21 SPX trading session prices pushed above a declining trendline connecting the tops made on 11/22/21Continue reading “US Stocks Could Top in Late December 2021”

Bearish News – Bullish Reaction

On 12/10/21 the US Consumer Price Index (CPI) was released and recorded a 39 – year high. If high inflation continues it’s bearish for the average US consumer, increasing inflation tends to be greater than increasing earnings. Inflation by itself may not be bearish for stocks, its what happens to yields/rates that have an effectContinue reading “Bearish News – Bullish Reaction”