Monthly Archives: April 2024

8:15 am Good Morning! SPX futures slipped to 5104.40 this morning after having tested short-term support at 5085.29 (not shown) during yesterday’s session.  The 50-day Moving Average remains as resistance at 5121.79.  Intermediate resistance is at 5147.06.  A break higher … Continue reading →

8:00 am Good Morning! SPX futures are edging higher, having made a new weekend high at 5115.40.  The 50-day Moving Average is at 5118.66.  A close above that level indicates an ability to go higher, completing a complex fractal with … Continue reading →

The Nineveh Cycle? On April 8, 2024 the nation was transfixed by a celestial phenomenon – A total solar eclipse that could be seen by a significant population in the US.  The first city in the United Stated that it … Continue reading →

3:32 pm Although SPX began today in a panic decline, it was rescued out of short gamma (beneath 5050.00) by a bounce at the 2-hour Cycle Bottom support at 4994.69.  The close may be near the options neutral zone from … Continue reading →

8:00 am Good Morning! NDX futures rose to an overnight high at 17607.90, but then have pulled back .  It closed yesterday just under the 38.2% Fibonacci retracement value at 17489.54.  This morning’s probe may attempt to reach the 50% … Continue reading →

2:20 pm SPX has exceeded the 38.2% retracement level at 5070.16 and appears to have completed its bounce or nearly so.  I wish yo point out a possible bearish formation that indicates a minimum target that may be reached in … Continue reading →

11:11 am NDX rose to the Max Pain level, but could not escape short gamma.  A decline beneath 16973.94 puts the NDX into serious short gamma which may accelerate the decline.  Gamma is at the most negative reading year-to-date, but … Continue reading →

2:50 pm The NDX has been down nearly 8% in the past month, 2.25% in the past day.  An ugly week for those who were FOMOed into buying the all-time highs.  The problem is, this may continue for another two … Continue reading →

12:45 pm SPX bumped up against the 2-hour Cycle Bottom resistance and reversed downward.  In the process it may have completed Minor Waves 1 and 2.  If so, Wave 3 may have begun, with serious repercussions.  Wave 3 may take … Continue reading →

2:15 pm NDX may be due for a bounce, but overhead resistance may prevail at 17721.15.  NDX may be completing the 5th week of a 9-week decline.  The next segment may be much worse than the first.  Signals abound for … Continue reading →