markrivest

markrivest

The S&P 500 (SPX) could be nearing completion of an Elliott wave – Ending Diagonal Triangle (EDT) that began after the 11/04/24 bottom. This formation is the terminal phase of a larger degree trend. Price frequently throws over the trendline connecting the peaks of the third and first waves. In this case the target zone is SPX 6,145 to 6,165. Time zone for...

markrivest

The S&P 500 (SPX) could be very near the completion of a 28 – month extended Elliott Impulse wave that began in October 2022. There are always alternate Elliott wave counts. Followers to my website will notice that the count illustrated in this post is slightly different to what was shown on the website. Both wave counts have the same message – a multi –...

markrivest

Attention – this is a Red Alert! This is a Red alert! The main three U.S. stock indices, S&P 500 (SPX), Nasdaq Composite (IXIC), and Dow Jones Industrial Average (DJI) have recorded a major bearish momentum divergence. In December 2024 all three indices recorded new all-time highs. Last week for several days only SPX reached a new all-time high. This...

markrivest

The Dow Jones Industrial Average (DJI) since it’s 12/04/24 all – time high has a very clear Elliott wave pattern. From 12/04/24 to 12/20/24 there is a clear five wave Impulse pattern. Followed by an Elliott wave – Expanding Flat correction. Primary target for a top is at the Fibonacci .618 retracement of the 12/04/24 to 01/13/25 decline. Right near this target...

markrivest

Since the late October to mid – November 2024 decline Gold has gone sideways and could be forming an Elliott wave – Horizontal Triangle. Within this structure there’s usually a Fibonacci relationship between alternate waves. In this case wave “D” is close to .618 of wave “B” Wave “C” is close to .618 of wave “A”. If the wave count is correct Gold could decline...

markrivest

Using the Ichimoku Cloud indicator is a great tool to determine long-term trends and occasionally trend changes. Note on the Gold chart price stayed below both cloud boundaries from May to November 2022. Then in mid-November price decisively moved above both cloud boundary lines. The size of the price move is a main clue of potential trend changes. In March...

markrivest

The S&P 500 (SPX) may have completed an extended Elliott - Impulse wave. The movement began in March 2009 and counts as complete at the December 2024 peak. Note the very long-term RSI double bearish divergence. If this count is correct the SPX could be in a bear market that lasts into 2026. Major support is the October 2022 bottom.

markrivest

On 01/02/25 the SPX made a maginal new low from its decline since early December 2024. The bears could not follow through on the break out. Hourly RSI and MACD had bullish divergences on the days low. A multi-day rally may have begun. If so it could provide a great opportunity to short stocks.

markrivest

My prior post noted an SPX area that could terminate the rally that began on 12/20/24. Subsequently the SPX rallied just above the target zone illustrated in the prior post. The rally termination point came just below the point were Sub Minuette wavr "a" equals sub minuette wave "c". The sharp decline on 12/27/24 appears to be the beginning of at least a...

markrivest

The S&P 500 (SPX) since its all-time high appears to be forming a series of "one's" and "two's " to the downside. This could be the prelude to a very large decline in early 2025. Short-term the SPX could rally into the low 6,000 area soon. If so his could be an important peak.

markrivest

Volume Profile puts market volume on a vertical axis. This allow you to discover support/resistance areas. The widest part of the profile is called Point of Control (POC). This is the level of strongest potential support/resistance. POC is at 5,790.00 which is close to a Fibonacci .382 retracement of the 08/05/24 to 12/17/24 rally. These two level imply...

markrivest

U.S. 30 - Year Yield/Rates (TYX) could rise to 8% in 2025. TYX completed an Elliott five - wave Impulse pattern from March 2020 to October 2023. Subsequently there was a clear Elliott wave Single Zigzag into the September 2024 bottom. TYX could be in the early phase of Primary wave , if so it could reach 8% in 2025. Weekly RSI is in the neutral zone at only...

markrivest

The strongest support/resistance using Volume Profile is called Point of Control (POC). Gold (XAUUSD) is nearing a zone around POC. This zone could be important resistance in one or two trading days.

markrivest

Bitcoin is near what could be a very important round number top. The three prior significant peaks in 2014,2017, and 2021 came in either November or December. BTCUSD is also near a multi-year rising trendline. Both RSI and MACD have bearish divergences. An important top could be made soon.

markrivest

In one or two trading days the Dow Jones Industrial Average (DJI) could complete an extended Elliott wave Impulse pattern that began on October 2022. Weekly RSI has multiple bearish divergences. If a top is made the decline could continue for several months.

markrivest

Voume Profile places volume on a vertical scale to determine areas of support/resistance. The widest part of the profile is called "Point of Control" (POC). This is where the strongest support and resistance could be. POC is at 5,704. Chart support is at 5674. A break below these levels could open the door for a plunge down to the 08/05/24 mini crash bottom.

markrivest

Russell 2000 (RUT) appears to have completed an Elliott wave Ending Diagonal Triangle (EDT) from 08/05/24 to 10/16/24. After completion of an EDT there’s typically a rapid retracement back to the EDT point of origin. In this case the 08/05/24 bottom. The price zone is near the 2,000 area, and the target time is 11/01/24 to 11/04/24. Daily Stochastic is still in...

markrivest

The Fibonacci sequence is as follows (1,1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, ---to infinity) Within the last 34 – years there have been 4 significant SPX turns on or near October 11th. October 11, 2024 could be the 5th turn – this time a top. Additionally, the SPX - 2002 to 2007 was almost an exact Fibonacci 5 – years. If the current bull market which began...