Monthly Archives: May 2021

3:10 pm SPX may have made its final probe to 4218.36, slightly higher than the EW minimum target.  The SPX can go down now.  A certain fly in the ointment suggests that the final probe may only be partially complete, … Continue reading →

1:53 pm TNX has risen above Intermediate-term support at 16.05 and has challenged the 50-day Moving Average at 16.24.  A rally above the 50-day gives TNX its buy signal.  The 7-year Note auction did well today.  The 10-ear Note auction … Continue reading →

3:15 pm Just another day left of this nonsense?  I am constantly analyzing the Cycles to see what compels the market to do what it does.  The Monthly Cycle strongly suggests that May 7 was the high for this trend.  Here’s … Continue reading →

3:40 pm SPX has spent 12 days from top to top, thus far.  It is still uncertain whether it may attempt yet another probe higher.  This much I can say… a decline beneath the double support at 4163.89 may produce … Continue reading →

8:30 am Good Morning! NDX futures are testing Friday’s high, primarily as a result of a positive options expiration.  Additional shares were bought over the weekend to “true up” Friday afternoon’s maturing options.  Those same shares are likely to be … Continue reading →

6:55 am Good Morning! SPX futures made a low of 4151.62 in the overnight session and is now hovering near 4165.00.  A view of the options chain reveals 1223 net put positions at 4175.00 while the strike at 4150.00 is … Continue reading →

3:05 pm SPX may have stalled at Short-term resistance at 4155.54 and mid-Cycle resistance at 4154.80.  The reason may be that most investors went short on the way down at these levels and now the short-covering rally has run out … Continue reading →

3:25 pm BKX bounced off its trendline just above Intermediate-term support at 126.27.  There is some evidence that this may be the last bounce before oblivion. ZeroHedge reports, “In today’s FOMC Minutes there was a brief section that received little … Continue reading →

3:53 pm The trendline at 4140.00 is broken again.  The next target, but not the last, is the 50-day Moving Average at 4065.43.  The Broadening Wedge target may be the minimum for this decline.  This could be exciting… I have … Continue reading →

7:00 am Good Morning! NDX futures slipped back beneath the .382 Fibonacci retracement level at 13381.39 and the 50-day Moving Average at 13369.92 this morning.  All in all, this was a weak retracement for the NDX, despite Friday’s algo-driven push … Continue reading →