markrivest

markrivest

In my first post I noted a Fibonacci time cycle due on 09/01/16 which also happens to be a new moon. Todays post examines two Fibonacci price coordinates that indicate a zone for a likely correction bottom. A Fibonacci .236 retrace of the entire bull move from February 11th to August 15th targets SPX 2103.26 A Fibonacci .382 retrace of the move up from the June...

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Above is a close up view of the long term Elliott wave count I illustrated in my 8/22/16 post. A Elliott wave double Zigzag formed from the 5/20/15 peak to the 2/11/16 bottom. What could be forming since 2/11/16 appears to be a possible Ending Diagonal Triangle. Wave "4" of the structure could be underway now. If so the bulls-eye price target is SPX 2114,...

markrivest

Since the major bottom made in March 2009 the SPX appears to be in either a developing extended five wave pattern or in the later part of a rising Zigzag. Regardless of which pattern is correct based on the recent monthly MACD bullish cross over the bull market could continue for several more months before a major peak is in place. Fibonacci time cycles point...

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SPX daily 2016-1-13 to 2016 8-19