Monthly Archives: May 2023

7:45 am Good Morning! My internet provider was down most of the day yesterday.  They gave no reason for the outage, except the recorded messages implied that it happened in multiple locations across the country.  I must also report that … Continue reading →

2:30 pm Good Afternoon! SPX may have completed its first hourly Cycle from its high.  If so, we may expect to see the decline begin from here.  More on Friday.      

8:15 am Good Morning! NDX futures hit a new morning low at 13614.80 after breaking through the (August peak) trendline support at 13720.91.  It is currently challenging the Cycle Top support at 13616.00 and on an aggressive sell signal.  The … Continue reading →

2:48 pm BKX appears to be in an irregular correction that may have further to go.  Despite poor fundamentals, BKX appears to be headed higher…for a time.  If so, BKX may venture to its April high of 85.95 before resuming … Continue reading →

8:00 am Good Morning! NDX futures declined to 13749.90, just above the trendline at 13720.91.  On Friday it made a new yearly high at 13874.42, on day 276 of the Master Cycle.  While the NDX may go as high as … Continue reading →

3:02 pm BKX also suffered a reversal  just beneath the 50-day Moving Average after an irregular correction.  We may see a panic decline over the next three weeks.  Note that TNX broke out this morning, signalling higher rates (and more … Continue reading →

12:30 pm SPX reversed shortly after 11:00 am and is now beneath the 2-hour Cycle Top at 4175.55.  This may be interpreted as an aggressive sell signal with confirmation beneath the lower Triangle trendline at 4120.64.  Note that a new … Continue reading →

7:45 am Good Morning! NDX futures challenged the trendline at 13430.00 this morning, but did not make a new high.  This leaves yesterday’s high as the probable Master Cycle pivot on day 272.    The lower trendline of the Ending … Continue reading →

7:45 am Good Morning! NDX futures probed above its Ending Diagonal formation in a brief “throw-over” to 13436.60 before easing back under.  This may be the final probe for the NDX, whether it registers on the daily chart or not.  … Continue reading →

7:40 am NDX futures rose to a weekend high of 13388.40, not able to exceed Friday’s high inside the Ending Diagonal formation on day 269 of the Master Cycle.  Today is day 272.  NDX may be at the point where … Continue reading →