Mark Rivest

Using Bitcoin as an Indicator for the US Stock Market

Bitcoin in US dollars (BTCUSD) has been trading since June 2017 and has shown that it can be a leading indicator at significant tops and bottoms for the US stock market. The daily BTCUSD and S&P 500 (SPX) chart courtesy of Trading View illustrates their relationship. In December 2017 BTCUSD reached its bull market highContinue reading “Using Bitcoin as an Indicator for the US Stock Market”

NYSE New 52 – Week Highs – Update February 2021

The NYSE New 52 – Week Highs ($NYHGH) chart courtesy of StockCharts.com shows the internal momentum of the NYSE since the start of the secular bull market in March 2009. The five phases roughly correspond to the five peaks within an extended nine – wave Elliott impulse wave. Phase 1 covers what I’ve labeled asContinue reading “NYSE New 52 – Week Highs – Update February 2021”

Final Wave Up for US Stock Market?

The hourly S&P 500 (SPX) chart courtesy of Trading View illustrates the Elliott wave subdivisions since the Important 10/30/20 bottom. Note the significant bearish divergence on the hourly RSI, it implies at least a short-term peak could be in place as of the late 02/12/21 rally. If there’s more upside it could be brief, perhapsContinue reading “Final Wave Up for US Stock Market?”

S and P – 500 Prime and Alternate – Elliott Wave Counts – February 2021

Today February 12, 2021 the S&P 500 (SPX) may have completed five – Primary waves up from the major bottom made in March 2009. The daily SPX chart courtesy of Trading View illustrates the prime – Elliott wave count. Today’s high came late in the trading session, in what appears to a thrustContinue reading “S and P – 500 Prime and Alternate – Elliott Wave Counts – February 2021”

Dow Jones Industrial Average – 55 – Year Anniversary

On February 9, 1966, the Dow Jones Industrial Average (DJI) reached the climax of a mega 34- year bull market. The peak at DJI 1,000 was not decisively broken for 16- years. Toady February 9, 2021 the DJI made another new all-time high of the secular bull market that began in March 2009. Significant topsContinue reading “Dow Jones Industrial Average – 55 – Year Anniversary”

US Stocks Push Relentlessly Higher

After the S&P 500 (SPX) 01/26/21 all-time high it appeared a decline lasting at least two weeks with a minimum retracement to SPX 3660 could be underway. Both targets failed to be reached as ravenous bulls viewed the paltry drop a buying opportunity. The daily SPX chart courtesy of Trading View illustrates RSI Bearish divergences.Continue reading “US Stocks Push Relentlessly Higher”

Silver Short Squeeze

After successfully triggering short squeezes in US stocks, supposedly Reddit users were attempting a short squeeze in Silver. If there’s a Silver short squeeze is in process it will likely fail and may have already trapped traders going long Silver. Its much harder to short squeeze a market as opposed to an individual stock becauseContinue reading “Silver Short Squeeze”

Dow Jones Transportation Average – Major Top?

The Dow Jones Transportation Average (DJT) appears to have completed a five – wave Elliott impulse pattern from its 03/23/20 bottom. The daily DJT chart courtesy of Trading View illustrates the movement. This is an update to the DJT chart shown in the 10/30/20 post “Dow Jones Transportation Average – An Important Bottom?”. That postContinue reading “Dow Jones Transportation Average – Major Top?”

US Stocks Downside Rollover

Today 01/27/21 the S&P 500 (SPX) broke below chart support made on 01/25/21 and 01/15/21. This is the first time since the rally began on 10/30/20 that the SPX has broken two support levels – powerful evidence that at least a minor decline has begun. The SPX chart courtesy of Trading View illustrates the dailyContinue reading “US Stocks Downside Rollover”

Could Tesla be the Ultimate Mania Stock?

Several posts on this site have focused on Zoom Video Communications Inc. (ZM) as a possible guide to timing the broader stock market. The first post about ZM on 10/15/20 “Additional Elliott Wave Confirmation” noted its clear Elliott wave pattern. Additionally, ZM because of its spectacular growth prior to its all-time high made it aContinue reading “Could Tesla be the Ultimate Mania Stock?”