Monthly Archives: July 2022

2:25 pm SPY stalled at 384.00 and SPX at 3859.90, a 70% retracement.  The complex pattern is emerging from this mess.  The Wave formation shown above may be correct, should SPX not rally further.  A decline beneath short-term support at … Continue reading →

10:53 am A bounce may be in order here.  The 38.2% Fib retracement is near 3800.00 and the 50% Retracement level is at 3820.00, just beneath Short-term resistance at 3828.94.  Remember, Max Pain is at 3805.00.  Dealers and hedge funds … Continue reading →

10:40 am Along with the food crisis, liquidity is also drying up.  The BKX is testing the Cycle Bottom support at 98.61 on day 252 of its Master Cycle.  In addition, there is an 18-month Head & Shoulders formation at … Continue reading →

3:17 pm The sideways frustration may be over, as SPX declines through Short-term support at 3822.13.  Another nearby potential support is at 3810.32.  Should both be surpassed, the doors open to a panic decline as trending strength gathers momentum later … Continue reading →

July 11, 2022 Good Morning! SPX retraced most of its decline from the top on June 28, but stopped at Intermediate-term resistance at 3918.11.  The weekend SPX futures remained beneath 3900.00 and this morning are at a loss.  There is … Continue reading →

Note: I will be unavailable the entire week of July 4.  The Practical Investor will resume July 11, 2022. 3:15 pm SPX is at its target zone.  There is a symmetry in the bounce at 3832.00.  Time to be short.  … Continue reading →