Monthly Archives: February 2024

11:55 am SPX made a new all-time high this morning, yet NDX has not yet attained a new high.  All of this excitement over one company…We’re looking over the edge, but being pulled back at the last moment.  The NDX … Continue reading →

2:25 pm SPX has now fallen beneath the Cycle Top, the Diagonal trendline and short-term support at 4961.00, giving a sell signal.     815 am I am leaving on a tour until the end of March.  I may only … Continue reading →

10:55 am NDX is on as ell signal, having crossed both the daily Cycle Top and Diagonal trendline at 17604.57.  Confirmation comes at the 2-hour mid-Cycle support at 17259.96 and the 50-day Moving Average near 16983.85.  The NDX may be … Continue reading →

10:24 am The overnight melt-up in the SPX has started to melt down, instead.  Speculators are selling their calls and buying puts in a frenzy to stay ahead of the reversal.  The options market may reinforce the decline beneath 5000.00 … Continue reading →

8:00 am Good Morning! NDX futures rose to 17862.50 in the overnight session, a 68% retracement.  Today is a make-or-break day, as the direction of the market from here may dictate the tone of the outlook for the year.  The … Continue reading →

10:50 am BKX has bounced off its new low to retest the 50-day Moving Average at 93.70 this morning.  However, it may not last, since this may be in preparation for a waterfall event lasting to the end of February … Continue reading →

1:30 pm SPX is hovering above its Ending Diagonal trendline at 4950.00.  It has already declined to 4945.00, indicating a deeper decline to come.  The Daily Cycle top is at 4925.00.  So, an aggressive sell signal may be had between … Continue reading →

10:04 am BKX is taking a shot at Intermediate resistance at 95.16, up from the 50-day Moving Average at 93.33.  However, it is not likely to make it, as it is fighting against a potential downdraft much larger than the … Continue reading →

8::20 am Good Morning! NDX futures have come off their overnight high at 17857.80 this morning as the markets await the CPI report to determine how soon rated cuts may begin.  Should the outlook dictates that rate cuts are postponed … Continue reading →

1:41 pm BKX, our liquidity proxy, is hovering at the 50-day Moving Average at 92.97, waiting for the trigger to be pulled.  The resumption of the decline may be unstoppable.  The banking system as we know it may be totally … Continue reading →