Monthly Archives: January 2022

7:30 am Good Morning! SPX futures are mildly positive this morning.  As of Friday’s low the SPX Cycle has gone 8.6 days from the January 11 peak at 4818.62.  It is now at a major crossroads.  The chart above shows … Continue reading →

11:55 am BKX has reversed back beneath the trendline after Yesterday’s Master Cycle high.  This constitutes a sell signal which may be confirmed once it declines beneath the Cycle Top support at 144.01.   The Citigroup’s earnings miss marks the top … Continue reading →

11:21 am NDX has made its reversal after the bounce fell short of the 61.8% retracement at 16056.00 and the 50-day Moving Average at 16087.68.  The opportunity to short the NDX is now.  SPX will follow.   10:05 am BKX … Continue reading →

8:05 am Good Morning! NDX futures hit an overnight high of 15908.80, just above the Fibonacci 50% retracement level at 15886.35.  While I had thought that the 22-month trendline might be the stopper for this rally, and the retracement appeared … Continue reading →

7:30 am NDX futures continued to rise after closing but peaked at 15745.90 at 5:30 pm as options were settled.  The Max Pain zone for Wednesday is 15650.00 while gamma turns positive at 15700.00.  However, at its peak retracement, NDX … Continue reading →

4:00 pm Here’s a “what if” to consider.  What if Wave [3] of the VIX has the same dimensions as Wave [1]?  If so, we could use the same multiplier for the entire structure (5 Waves).  Currently Wave 1 of … Continue reading →

3:15 pm SPX is trading flat at or beneath 4700.00 despite efforts to boost equities.  It’s time to short this market.  I cannot see it recovering on Monday after such a negative options expiration.  Be prepared for increased volatility. The … Continue reading →

10:25 am NDX appears to have bounced off its 22-month trendline and may be heading higher.  The new target, should it run to the top again, is 16700.00 where Wave C equals Wave A.  However, it will have some serious … Continue reading →

2:50 pm TNX has broken above its straight line resistance at 16.93 and appears to be challenging Cycle Top resistance at 17.39.  It has been on a buy signal (UST sell signal) since it crossed above the 50-day Moving Average.  … Continue reading →

3:45 pm Today is day 258 of the Banking Index, our liquidity proxy.  Liquidity has the most impact on the NDX, since earnings are secondary, if nonexistent in most tech companies.  A reversal may soon be upon the banks and … Continue reading →