Monthly Archives: May 2023

9:00 am BKX continues to deteriorate beneath the Cycle Bottom resistance at 76.08.  The Cycles Model continues to suggests a bottom may be in by mid-June.  However, the stand-off on the debt ceiling may extend that period, as indicated by … Continue reading →

7:00 am Good Morning! This chart has given me some sleepless nights as of late, so here goes… First, a look at the technical side.  There is a Head & Shoulders formation ongoing for the past 30 months.  Most analysts … Continue reading →

8:15 am Good Morning! NDX futures are hovering, awaiting the CPI report and parsing what that may mean for interest rates.  The Master Cycle high was a week later than that of the Blue Chips.  As the tech-heavy generals go, … Continue reading →

7:45 am Good Morning! NDX futures have slid from a lated Master Cycle high on day 265, one week after the SPX high.  Normally, NDX would lead the SPX at important junctures.  However, the flight to “safety” in the mega-tech … Continue reading →

10:15 am The Ag Index broke through both the trend line and Cycle bottom to begin what may be the strongest rally yet after 7 months of decline.  Should GKX break out, the rally may last until the end of … Continue reading →

8:15 am Good Morning! NDX futures bounced from the Intermediate-term support at 12948.00 to the 38.2% retracement level this morning at 13073.60 thus far.  The Cycles Model and Elliott Wave structure both agree that a much larger decline is now … Continue reading →

1:29 pm SPX has bounced near its 50-day Moving Average at 4037.78 and has tested the trading channel at 4082.61.  It is now headed lower.  The first support that may halt the decline is the 200-day Moving Average at 3962.31.  … Continue reading →

8:10 am Good Morning! NDX futures rose to 13154.60 this morning. a 45% retracement (thus far) of yesterday’s decline.  We may expect a calm market before the FOMC  announcement unless more bad news develops.  There is a tendency to lean … Continue reading →

10:39 am SPX has declined beneath its Short-term support at 4125.77, creating an aggressive sell signal.  Further confirmation of the sell signal may come at the trend channel lie at 4075.00 and the mid-Cycle support at 4061.89. ZeroHedge reports, “Weak … Continue reading →

8:15 am Good Morning! NDX futures may be coming off its 17.2-month long Cycle this morning, as Friday marked the precise timing for a high.  There may be another attempt to probe higher, but the probability of new highs may … Continue reading →