Monthly Archives: November 2023

8:30 am Good Morning! SPX futures bounced off the 50-day Moving Average at 4346.49 to 4361.50 this morning in a likely test of the descending trendline.  Yesterday’s high was on day 241 in the SPX.  However, it was day 251 … Continue reading →

3:55 pm SPX has broken out of the gap, creating an aggressive sell signal.  Once beneath the 50-day Moving Average at 4346.50, the sell signal is confirmed. ZeroHedge reports, “Complete disaster. That’s the only way one can describe today’s 30Y … Continue reading →

2:45 pm Please note:  I will be absent from this blog for the entire day tomorrow, November 8.     12:15 pm On November 3, I mentioned, “SPX is meeting fierce resistance at the September 21 gap beginning at 4375.70 and … Continue reading →

11:13 am BKX (refresh to update) may have begun its reversal after making a Master Cycle high on Friday.  The Cycles Model infers a month of decline lies ahead. ZeroHedge remarks, “Bank stocks soared this week (along with everything else) … Continue reading →

2:25 pm SPX is meeting fierce resistance at the September 21 gap beginning at 4375.70 and open to 4401.30.  It spent two weeks trying to overcome it in October, but failed.  Unfilled gaps are powerful resistance points, due to their … Continue reading →

1:03 pm SPX has made a very irregular retracement, as shorts get squeezed mercilessly.  By most standards, the retracement should have ended yesterday.  The retracement has taken back 70% of the decline since October 17 thus far.  It may be … Continue reading →

10:30 am The retracement of the BKX only amounts to 17%.  Yet, the correction may be complete, or nearly so.  This bounce is not to be trusted. ZeroHedge notes, “Recent data from Edmunds reveals that an unprecedented 17% of American … Continue reading →