Monthly Archives: August 2023

8:00 am Good Morning! NDX futures have remained in a tight range overnight, venturing higher, but settling beneath the 50-day Moving Average at 15149.46.  It is on a confirmed sell signal with possibly up to two weeks of decline ahead.  … Continue reading →

1:37 pm SPX came within points of the 50-day Moving Average at 4339.00 and bounced to 4460.00.  It is coming back down for a retest.  Supports vanish beneath that level, so we may expect quite a drawdown once the break … Continue reading →

10:15 am The Ag Index is heading into its last week of decline prior to its proposed Master Cycle low.  As reports of the harvest season come inwe may gain insights on the adequacy of the harvest.  However, world wide … Continue reading →

3:12 pm SPX is caught in short gamma with heavy layers of puts at 4500, 4480 and 4465 trapping it and effectively keeping it from rallying.  At the same time there are more clusters of puts at 4450 and below … Continue reading →

3:00 pm Update:  SPX declined to a new low this afternoon, just above the short gamma wall at 4450.00.  A bounce has ensued with the intent (?) of closing at Max Pain at 4495.00.  However, this probe may be stopped … Continue reading →

11:05 am SPX has ventured into short gamma beneath 4490.00.  The 2-hour mid-Cycle and Intermediate support lies at 4481.00.  Hourly Cycle A ended at yesterday’s close.  Hourly Cycle B is beginning as short gamma begins to influence the SPX.  This … Continue reading →

10:35 am SPX continues to challenge Intermediate support at 4477.00.  It is in short gamma territory with a very large contingent of short contracts (4781 puts) at 4450.00.  Breaking through that level may produce a gamma-driven panic.  However, should there … Continue reading →

11:41 am The Ag Index is hovering just above the July 13 low.  Despite the deteriorating conditions overseas, the U.S. markets are still sanguine and likely affected by declining liquidity and slower consumer demand.  The Cycles Model suggests the decline … Continue reading →

10:15 am SPX bumped up against 4530.00 and pulled back, creating a potential Head & Shoulders formation.  Provided the neckline remains intact, we may see a decline to the target and probably lower.  The next support may be the 50-day … Continue reading →

12:00 pm The bounce came a little sooner than expected, suggesting investors are buying the dip.  Should SPX bounce to 4530.00 or higher, then SPX may rise to the trendline near 4580.00.  However, should the bounce fail to overlap Thursday’s … Continue reading →