Monthly Archives: October 2023

11:02 am SPX is probing lower today.  A potential sell signal awaits beneath Wednesday’s low at 4325.43.  TNX is recovering after testing its Cycle Top support, which suggests we may see higher yields today.  The market may fall apart as … Continue reading →

8:15 am Good Morning! SPX futures have now reached a high of 4395.00, testing overhead resistance.  In play are  Intermediate resistance at 4392.25 and possibly the 100-day Moving Average at 4399.22.  Above that lies the 50-day Moving Average at 4417.49 … Continue reading →

12:05 am BKX (our liquidity proxy) may have made a reversal this morning as time runs out for the downside completion of the current Master Cycle.  The news may come fast a furious as earnings statements are due starting this … Continue reading →

9:42 am Today’s probe higher  in the BKX may be the final push in this correction.  The Head & Shoulders formation may be due to hit its target before the end of October.  The implications are enormous, should it come … Continue reading →

8:15 am Good Morning! SPX futures gave back roughly half of Friday’s gains over the weekend, making a low of 4267.50 before a bounce.  It has yet to probe the 200-day Moving Average at 4206.37 that may determine the nature … Continue reading →

2:26 pm Try as it might, BKX is having trouble making a normal retracement (79.77).  There are just a couple hours left.  The Cycles Model suggests all hell may break loose over the weekend.  Brace yourselves.   11:00 am It … Continue reading →

10:05 am BKX, our liquidity proxy, may be attempting a correction.  A likely target may be near the Intermediate-term resistance at 79.91.  I am dubious that it will make it, but the Cycles Model suggests the uptick may last through … Continue reading →

9:58 am BKX continues its inexorable slide this morning, but may be due for a short technical bounce.  The already thin ice is cracking ominously as the Fed continues to hide its deteriorating reports until after the Friday close, hoping … Continue reading →

12:46 pm SPX is probing new lows, but is approaching a key support.  The 200-day Moving Average is at 4202.00 (corrected).  This may set up a 2-week bounce that may revisit the neckline at 4335.00.  This is not the end … Continue reading →

10:02 am The Ag Index is testing its Cycle Bottom at 383.83 on day 265 of its current Master Cycle.  Today’s low is between the proposed potential lows at 380.54 and 387.76 mentioned this summer.  While it may linger another … Continue reading →