Monthly Archives: July 2023

9:10 am The Ag Index may be nearing its Master Cycle terminus.  Today is day 257, so we are on high alert for a reversal.  GKX may yet test the 61.8% retracement at 387.76 or the Wave (4) support at … Continue reading →

10:10 am BKX, our liquidity proxy, made a new retracement high at the open, then reversed lower.  JPM’s glowing report comes at a cost to other banks’ solvency.  The Banking crisis may be about to resume. ZeroHedge remarks, “Q2 earnings … Continue reading →

3:31pm SPX may be nearing completion of its final probe in this series at 4 degrees of trend.  Should it be so, the reversal may come overnight.  Looking at this as the end of a trend, we are in day … Continue reading →

8:00 am Good Morning! NDX futures have risen to 15176.40 this morning, riding above the Cycle Top support at 15078.82.  The Cycle Top is 2 standard deviations from the mid-Cycle support at 12560.06.  After two months above the Cycle Top, … Continue reading →

10:35 am The Ag Index is testing its lower trendline prior to a final plunge to its 61.8% retracement low at 387.76 or, its Wave (4) technical support at 380.54.  The Cycles Model suggests this may take place in the … Continue reading →

9:00 am Good Morning! SPX futures are flat this morning, trading beneath its Cycle Top resistance at 4404.2.  It remains on an aggressive sell signal on day 270 of the Master Cycle.  The high at 4458.48 was made on June … Continue reading →

8:00 am Good Morning! US Tech futures hovered just above 15000.00 this morning as they await the monthly Employment Situation Summary due at 8:30 am.  The NDX tested the Cycle Top support at 14963.00, but did not decline beneath it.  … Continue reading →

11:56 am VIX has given us an unambiguous buy signal as it rallied above the 50-day Moving Average at 15.94.  Trending strength has finally arrived and may help propel the VIX higher over the next tow months.   11:46 am … Continue reading →

12:20 pm The rally in the BKX appears to have fizzled on June 13 as the knock-on effect appears to be the narrowing of leadership in all the other indices.  The NDX and SPX only have 5 companies on which … Continue reading →