Monthly Archives: July 2022

8:05 am Good Morning! NDX futures challenged the Wave (4) high resistance at 12897.63 by rising to 12906.70.  It has since pulled back from that resistance.  Should it go higher, the next resistance is the Lip/Neckline at 13020.40.  In today’s … Continue reading →

3:45 pm SPX has risen nearly to the 38.2% retracement of the entire decline from January 4 to June 17, approximately 5.5 months.  Today is calendar day 41 out of the low and 28 market days have elapsed since then.  … Continue reading →

3:35 pm SPX has reached a new high of 4039.56 as I write.  It is in long gamma which may force dealers to buy high to cover today’s maturing options.  In any event, we must see SPX come back down … Continue reading →

2:32 pm BKX, our liquidity proxy, just gave us a sell signal.  It has declined beneath the 50-day Moving Average at 106.43.  Yesterday it made its Master Cycle high on day 265.  The Cycles Model shows that the next Master … Continue reading →

11:28 am The Ag Index may have extended its Master Cycle low to day 314 days from its September 2021 low in a double zigzag pattern.  If correct, the Ag Index may rally through mid-August.  I have no other explanation … Continue reading →

3:06 pm Today is (calendar) day 51 from the top of the current daily Cycle beginning on June 2.  There were 16 days of decline followed by 35 days of correction in this particular Cycle, as opposed to 37 down … Continue reading →

1:15 pm It finally took until today’s action to recognize that there is no Triangle formation in the SPX…yet.  Triangles usually denote one final move will follow.  This decline is far from over.  This Cycle has now taken 50 days … Continue reading →

8:00 am Good Morning! NDX futures rose to 12329.00 this morning before reversing back beneath the upper Rising Wedge trendline at 12250.00.  Yesterday’s action is viewed as a “breakout” by many, when in fact it is a throw-over leading to … Continue reading →

2:46 pm The bounce in SPX was higher than expected, but the advice is still valid.  The EW format is at the Minute level, so I had not anticipated a move this large.  However, the final Waves of Triangles are … Continue reading →

3:39 pm BKX probed to its corrective high this morning before reversing back down on day 257 of its Master Cycle.  I had originally considered Thursday’s low as a possible Master Cycle ending, but today’s rally makes more sense.  The … Continue reading →