April 26, 2024

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 traversed was Jonah, Texas.  The path of the total eclipse also traversed through two cities in the Continental US named Nineveh and a third eponymous City in Ontario, Canada.  Oddly, there are four additional cities named Nineveh within the partial eclipse zone, making a total of seven cities in the North American continent named Nineveh in the path of the eclipse.  Read the book of Jonah in the Bible.

The question arises, is there any spiritual significance to this date?  April 8 happens to be the Feast of the Annunciation in which the angel Gabriel announced to Mary that she would be the mother of Jesus.  The feast was moved due to March 25 being in Holy Week, during Christ’s Passion and death.  April 8 was also the day after the feast of Divine Mercy.

Let’s assume there is a spiritual significance to this date.  What next?  Jonah was told by God to tell Nineveh to repent and pray to avoid destruction that would occur in 40 days.  Jonah went through the city of Nineveh in three days and the people listened.  The king declared a time of fasting and penance and the city was saved.   Jonah’s warning was conditional:  Unless the people of Nineveh have a change of heart and pray, the city would be destroyed.

Today that corresponds with May 18, 2024.  I am no prophet.  However, anyone with a lick of sense can see that we are on the verge  of destruction.  The worst of it comes from within ourselves.  For example, there are more deaths from abortion than from old age.  Our politicians are too weak to withstand the onslaughts of the Swamp.  Lets face it.  None of us are saints.  However, God extends His mercy to those who call on Him.  May 18 is very pregnant with possibilities.


8:00 am

SPX futures reached an overnight high at 5100.80 before easing back beneath yesterday’s high.  There is a conflict between the Elliott Wave structure, which allow a probe higher and the Cycles Model which suggest that Monday’s high fulfilled the structural pattern.  The matter may be settled shortly.  A final probe to the 50-day Moving Average at 5117.45 may be the outcome should Monday’s high at 5089.40 be exceeded.

Today’s options chain shows Maximum Investor Pain at 5050.00.  Long gamma begins at 5060.00 while short gamma may begin beneath 5045.00.  The options are tightly wound for a big move.


VIX futures are consolidating within yesterday’s trading range.  A probe higher in the SPX may elicit a move to the mid-Cycle support at 14.95 in the VIX.  However, the VIX correction may be considered complete.

The May 1 options chain shows Max Pain at 15.00-16.00.  Short gamma lies beneath 15.00 while long gamma begins above 16.00.  Options are tightly wound here, as well.


TNX appears to be consolidating beneath yesterday’s high.  While minimally completing the Cyclical structure, it may allow another probe higher by Monday.  The Cycle Top is at 48.50, which remains the target of any move higher.  However, that may unleash a liquidity tsunami from the Treasury as it has been rejuvenated by massive capital gains taxes paid on April 15.

ZeroHedge observes, “Following two solid, record-large coupon auctions this week, when first the 2Y auction stopped through and then the 5Y auction tailed, we just got the third possible outcome moments ago, when in the sale of $44 billion in 7Y paper (which was not a record large auction unlike the week’s previous two offerings), the high yield stopped at 4.716%, right on top of the When Issued 4.716%, or “on the screws” in the parlance of our bond times. That means that for 3 consecutive auctions we have not seen a tailing 7Y auction, with the last tail observed during the January sale (when the offering tailed by 0.3bps).”

That said, the auction yield jumped a whopping 53bps from March, and was the second highest ever.


USD futures continue to consolidate instead of declining.  The implication is that the new Master Cycle may rally into the end of May.


Gold futures continue to consolidate above the Cycle Top support at 2303.89.  It is on an aggressive sell signal (subject to volatility) that becomes confirmed beneath the Cycle Top.


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