Monthly Archives: October 2023

8:00 am Good Morning! NDX futures have risen to an overnight high of 14368.00.  Overhead resistance may lie at the 38.2% Fibonacci level at 14542.40 or possibly higher, at 14643.70, where an unfilled gap may stop the retracement.  The NDX … Continue reading →

3:05 pm Crude Oil had dropped beneath the Head & Shoulders neckline at 82.50 to a low of 81.84.  It is on a sell signal.   10:00 am BKX, our liquidity proxy is due to bounce after making a Master … Continue reading →

8:00 am Good Morning! Please Note:  This will be my last entry for the week, as family concerns take precedence.  I will return on Monday with more updates. NDX futures are consolidating this morning after a completed 38.8% retracement.  While … Continue reading →

12:30 pm SPX has risen to the mid-Cycle resistance currently at 4257.38, then reversed down beneath the 200-day Moving Average at 4236.85.  It may be back on a sell signal, but with confirmation beneath 4200.00.  Too many pundits are not … Continue reading →

1:30 pm SPX did an early correction to retest the mid-Cycle resistance at 4256.41.  Having done that, it may resume its decline beneath the lower trendline at 4150.00.  There is little support down to 3800.00.   7:30 am Good Morning! … Continue reading →

2:55 pm SPX is challenging the 200-day Moving Average at 4233.000 this afternoon.  Should it break through, the next support may be the declining trendline near 4150.00.   Dealers may be desperate to hold the line here, since there is a … Continue reading →

1:30 pm SPX may have been stopped by the trendline at 4339.50,a 47% retracement VS. a 61.8% Fibonacci retracement mentioned this morning.  The decline may be resuming.   8:00 am Good Morning! NDX futures made a new low at 14828.00, … Continue reading →

9:45 am BKX may have made its reversal today, on day 258 of the Master Cycle.   It was repelled by Intermediate resistance at 78.89 yesterday, giving the BKX an aggressive sell signal.  A further decline beneath support at 75.50 confirms … Continue reading →

3:15 pm   SPX exceeded Intermediate resistance at 4383.75 while making an attempt to test the 50-day Moving Average at 4402.75, but fell short of that target.    This has all the earmarks of a final probe in the Master … Continue reading →

10:25 am The Ag Index may be pulling back after testing the 50-day Moving Average at 399.18.  A probe above the 50-day reinforces the existing buy signal given off the trendline.  This is an indication to accumulate shares of agricultural … Continue reading →