Monthly Archives: July 2021

11:48 am While SPX navigates the neutral gamma zone, NDX is challenging its 2-month trendline at 14800.00 for a possible aggressive sell signal.  Additional confirmation lies at Short-term support at 14607.00.  While the NYSE Hi-Lo is above 70.00, the NDX … Continue reading →

7:10 am Good Morning! I have an 8:00 am meeting, so this blog will be brief. SPX futures declined to 4250.12 before bouncing back to positive (above 4370.00 cash) this morning.  Yesterday’s cash market came awfully close to the 4399.00 … Continue reading →

3:30 pm I had been warning since yesterday that trending strength was on the increase.  It appears that the increase in strength will continue through the weekend.  A breakout above the 50-day Moving Average at 15.37 may be in order… … Continue reading →

8:45 am Good Morning! DJIA futures made a morning low of 34548.00 after making its retracement high on Friday.  It has not broken above the May 10 high, which puts it in a very dangerous position.  Should the decline start … Continue reading →

9:05 am It’s been a couple of weeks since I last reported on the GSCI Ag Index and it is due for an update.  It now appears that GKX may stretch its correction at least through options expiration next week … Continue reading →

2:15 pm Here is the SPX chart with updates.  There is a new Head & Shoulders formation.  A bit lopsided, but a legitimate one.  Should it be triggered, we may se a decline beneath 4200.00.  There is yet another potential … Continue reading →

7:45 am Good Morning! NDX futures continue to make all-time highs, although only by a few ticks.  Retail investors continue to buy the dips while institutional investors are absent.  The Fed is furiously pumping while the markets begin to sag.  … Continue reading →

10:35 am The Dow Jones Industrials have declined over 300 points in the first full hour of the cash market.  It appears that the DJIA is leading the decline at twice the velocity of the SPX decline.  That is attributable … Continue reading →

Happy Independence Day! Since the ongoing market commentaries (see below) insist that the market has further to rise, let me take the opposite view.  As reported on Friday, the DJIA has reached its target of 34800.00.  That was the round … Continue reading →

2:12 pm BKX, the proxy for market liquidity remains beneath its 50-day Moving Average.  Perhaps this is also an indicator that the market may be exhausted. ZeroHedge observes, “While today’s jobs report came in a bit on the weak side … Continue reading →