Author Archives: Mark Rivest

The Most Reliable Elliott Wave Pattern

If you were to take a poll of Elliott Wave practitioners of what they thought was the most reliable Elliott pattern they would probably say Ending Diagonal Triangle (EDT). Because of their configuration and location within a larger Elliott wave pattern, EDT’s present an excellent risk/reward trading opportunity.  EDTs occur primarily in the fifth waveContinue reading “The Most Reliable Elliott Wave Pattern”

Major Stock Market Top Could be in Place

Today 03/31/21 was the end of the quarter. Sometimes the end of a quarter can be a point at which a  trend changes.  If the trend has been up during the quarter, fund managers would likely want to hold profitable positions.  The best performance figures could be recorded on the final day of the quarter. Continue reading “Major Stock Market Top Could be in Place”

Stock Topping Process 03-29-21

Today the Dow Jones Industrial Average made a new all-time high unconfirmed by the other two main US stock indices, S&P 500 (SPX) and Nasdaq Composite. I call this a rule of the majority signal and could indicate a significant US stock market top. The daily SPX chart courtesy of Trading View illustrates a possibleContinue reading “Stock Topping Process 03-29-21”

Additional Evidence of a Pending Stock Market Top

Short-term Sentiment At important market peaks the evidence is not universally bearish, The same for important market bottoms, there’s usually at least one factor that is contrary to the weight of evidence.   The VIX indicator continues to be bullish.  I’ve noted in prior posts that the VIX  usually makes a higher bottom at S&PContinue reading “Additional Evidence of a Pending Stock Market Top”

Major US Stock Market Top on 03-29-21?

This is extremely exciting, the final piece of an Elliott wave pattern that began in March 2009 could be nearing completion. The daily S&P 500 chart courtesy of Trading View illustrates the Elliott wave count since the beginning of 2021. So far, the presumed Minor wave “4“bottom discussed in my prior blog has held.  There’sContinue reading “Major US Stock Market Top on 03-29-21?”

Probable Short-Term US Stock Market Bottom 03-25-21

Today 03/25/21 the S&P 500 (SPX) bottomed at 3853.50. My 03/23/21 blog “Crash Bottom Anniversary Day” speculated that Minor wave “4’” of an Elliott wave – Ending Diagonal Triangle could be developing. Today’s low was in the middle of the target zone illustrated on the SPX 03/23/21 chart and close to a Fibonacci .50 retraceContinue reading “Probable Short-Term US Stock Market Bottom 03-25-21”

Crash Bottom Anniversary Day

The prior blog noted that 03/23/21 was the one solar year anniversary date of the  crash bottom made on 03/23/20.  It was possible that a new S&P 500 (SPX) high could be  made on 03/23/21 plus/minus two trading days. The daily SPX chart courtesy of Trading View illustrates what happened. On 03/22/21 the SPX movedContinue reading “Crash Bottom Anniversary Day”

Stock Topping Process – Part Three

On 03/18/21 the Dow Jones Industrial Average made a new all-time high unconfirmed by the other two main US stock indices, S&P 500 (SPX) and Nasdaq Composite (IXIC).  I refer to this as a “rule of the majority signal” the market condition is revealed by the non-confirming indices. In this case a bearish signal.  Additionally,Continue reading “Stock Topping Process – Part Three”

Stock Topping Process Continues – Part Two

Today 03/17/21 the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) made new all-time highs. When two of the three main US stock indices make new all-time highs it’s a bullish signal. Also, the VIX made a new low for its movement down from its last major high in March 2020. The dailyContinue reading “Stock Topping Process Continues – Part Two”