Monthly Archives: August 2023

7:45 am Good Morning! NDX futures rose to 15491.20 thus far, in a probable attempt to reach 15500.00. (round number resistance and a short gamma wall).  This makes a 67% retracement of the July decline.  The current top-to-top Cycle has … Continue reading →

7:45 am Good Morning! NDX may have closed out its Master Cycle on day 259 above the 50-day and Intermediate resistance at 15301.76.  It has completed a 60.6% (near Fibonacci) retracement and may be ready to resume its decline.  With … Continue reading →

12:11 pm One of the conditions for the Master Cycle was to end at a high above the 50-day Moving Average at 4459.51.  That was accomplished this morning with a high at 4485.50, short of Intermediate resistance at 4488.49.  A … Continue reading →

7:30 am Good Morning! NDX futures rose to 14991.80 over the weekend session.  The retracement may be over, or nearly so, and the decline through the neckline near 14450.00 may be imminent.  Today is day 258 of the Master Cycle.  … Continue reading →

9:52 am The Ag Index made an early Master Cycle low on August 15.  It did not make the expected 61.8% retracement at 387.40.  Nonetheless, it is on an aggressive buy signal with the reversal from the cycle Bottom at … Continue reading →

9:38 am BKX continues its bounce from yesterday’s low.  There is no particular target for this bounce, as it may remain weak.  It may resume its decline shortly with a potential Master Cycle low in the first week of September. … Continue reading →

6:00 am Good Morning! A few thoughts in preparation to leaving. SPX futures have reached an overnight high of 4417.90 on their way toward the 50-day Moving Average at 4448.34.  It has cleared short gamma at 4400.00 and may probe … Continue reading →

12:36 pm SPX is on its second day of retracement.  It has pulled out of Short gamma beneath 4375.00 and may be heading toward Max Pain at 4395.00 into the close.  There may be a need to “buy more time” … Continue reading →

10:50 am SPX bounced off the named support at 4335.00 this morning and has moved above the wall of puts at 4350.00.  Another wall awaits at 4400.00, while Max Pain lies at 4450.00.  This pattern has created  a new Head … Continue reading →

2:05 pm SPX is approaching a minor support near 4380.00.  You may see a bounce back to 4400.00.  Otherwise, the decline continues for another possible two weeks.  Short gamma is getting even shorter. ZeroHedge remarks, “Bonds and stocks are trading … Continue reading →