Monthly Archives: January 2022

3:25 pm SPX rose to Short-term resistance at 4490.00 and may be reversing from less than a 50% retracement.  Confirmation of the reversal coms at 4457.00 and below.  Now we know the pattern that may follow through to the end … Continue reading →

1:25 pm Index options managed to close near the Max Pain zone at the open.  Now stocks and ETFs (retail) options expire at the close with 435.00 at the Max Pain zone.  Puts dominate at 434.00 and below, with short … Continue reading →

7:55 am NDX futures reached an overnight high of 14397.50 in a possible attempt to rise above the negative gamma beginning at 14400.00.  While NDX options are sparse due to the price, the QQQs (closing price $344.57) are a different … Continue reading →

4:1o pm ZeroHedge examines the entrails…   4:05 pm How do the dealers do it???  The VIX closed at 31.16, neatly at its Max Pain expiration between 30.00 and 32.50.  SPX closed just 10 points beneath its “logjam” of puts…a … Continue reading →

2:20 pm…mid-course correction It now appears that yesterday’s decline may have completed Wave 3.  I should have known, since it took more time than the pattern suggested for a lesser Wave.  It now appears that Wave 4 may be in … Continue reading →

10:47 am VIX has broken through the Head & Shoulders neckline, which often gives the minimum target for Wave 3.  If you read the prior alert, the SPX Wave 3 may not be complete until tomorrow afternoon.  If so, Friday’s … Continue reading →

3:30 pm Watch the 4300.00 level.  Should the SPX close at or beneath it, it would be time to take short-term profits.  Monday’s open may be messy.   2:58 pm SPX has crossed beneath the 200-day/43-week Moving Average at 4422.00 … Continue reading →

11:00 am VIX may be making a shallower retracement than normal.  We may be seeing a reversal higher in the next hour or so.  The next VIX options expiration is Wednesday, January 26.  VIX guy may be right this time. … Continue reading →

4:05 pm Is this time different? Wishfully thinking, ZeroHedge comments, “It’s crunch time for the buy-the-dip crowd. The S&P 500 is threatening to close below its 100-day average — having already slipped below that measure intraday Tuesday for the first … Continue reading →

2:19 pm SPX is making new lows.  Why isn’t VIX making new highs?  There may be several reasons.  First, the new lows in the SPX appear to be a Wave (b) expansion.  This would have a lesser effect on the … Continue reading →