Monthly Archives: October 2022

10:40 am BKX rose above the lesser trendline at 100.00 as the short squeeze got a new lease.  However the sell signal is at 100.00 and the Head & Shoulders neckline is at 97.00.  The decline may resume until the … Continue reading →

12:00 pm The beginning of earnings season (read: here and here) has not been kind to banks as we are seeing a reversal from yesterday’s short-covering surge.  It is still bearish, despite the rally, and especially so, now that it … Continue reading →

3:05 pm SPX was slowed at short-term resistance at 3675.00, then moved on to test the 50% retracement at 3687.21.  Gap resistance is at 3706.00.  I still view this as a retracement of the decline. ZeroHedge comments, “A little over … Continue reading →

10:18 am BKX, our liquidity proxy, dipped lower this morning before a small bounce.  The current Master Cycle is due to extend to mid-November, indicative of the Panic Cycle due or taking place in other markets, including our own stock … Continue reading →

3:25 pm GKX has attempted to make a new high yesterday, but failed by just a few ticks.  I have marked the low on day 247 of the Master Cycle.  Today is day 252, so there is still a chance … Continue reading →

2:04 pm BKX is challenging the neckline of the Head & Shoulders neckline.  A close beneath 97.00 triggers the formation.  The next Master Cycle pivot occurs at the end of October.  A probable target for October may be 89.00.  A … Continue reading →

9:20 am The Ag Index has about a week left in the current Master Cycle.  It is currently held aloft by the 50-day Moving Average but may decline further due to a decline in liquidity.  This is a good time … Continue reading →

7:50 am Good Morning! NDX futures are lower, having reached a low of 11465.10 this morning.  Yesterday’s bump higher may have delayed this Cycle low to a Tuesday-Wednesday time frame.  The unusually long Wave 4 was options driven and may … Continue reading →

1:50 pm ZeroHedge observes, “What goes up must come down. With financial conditions going from super tight to rather easy… … in literally 48 hours as markets soared after pricing in a Fed pivot (again), in the process making a Fed … Continue reading →

10:10 am The rally in equities may be an offshoot of the effort to keep banks liquified.  Most investors think that the banking crisis is a European problem.  It is not.  We just haven’t seen any domestic banks tell of … Continue reading →