Monthly Archives: May 2021

May 7, 2021

8:10 am NDX futures ventured above the mid-Cycle resistance at 13566.67 to 13660.00, but not above the first correction high at 13676.90.  The correction appears complete, or nearly so.  We await the April Jobs Report. ZeroHedge observes, “After years of … Continue reading

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May 6, 2021

1:15 pm Certain dealers and hedge funds are using their past experience to predict a possible short squeeze imminently.  NDX has been battling at mid-Cycle resistance at 13560.00 this morning and its Wave structure may not be complete.  Two possible … Continue reading

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May 5, 2021

8:00 am Good Morning! NDX futures climbed to a morning high of 13627.00, above the mid-Cycle resistance at 13533.94, an approximate 34% retracement.  The futures page contains some inaccuracies that lead me to take that information with a grain of … Continue reading

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May 4, 2021

1:56pm NDX bounced just above its 50-day Moving Average and shows no intention of taking back its losses.  Based on the Chart Model, NDX is likely to retest the mid-Cycle resistance at 13531.05 before going lower.  A decline beneath the … Continue reading

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May 3, 2021

7:30 am Good Morning! While the SPX and NDX appear weaker, SPX has  not declined beneath Short-term support to establish a bearish pattern.  The DJIA has been riding the up-sloping Short-term support while the upper probes have been declining to … Continue reading

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