Monthly Archives: May 2024

8:40 am Good Morning!  Have you prayed this morning? SPX futures dove to 5215.40, then bounced.  The most likely stopper is short term resistance at 5276.00 (not shown on the daily chart).    Should the decline be impulsive, it should … Continue reading →

10:42 am The Ag Index is testing  its prior trend channel before launching another 2-3 week rally.  The pullback is offering buyers another opportunity to accumulate agricultural shares and ETFs.   10:29 am BKX broke through the Diagonal trendline yesterday, … Continue reading →

9:48 am BKX has declined beneath its Ending Diagonal trendline, thereby elevating the sell signal from aggressive to confirmed.  Today the downside strength begins and may continue for the next two weeks.  The next target may be the mid-Cycle support … Continue reading →

2:10 pm The Treasury held an unscheduled 5-year Note auction today that didn’t go well, sending the 10-year yield (TNX) above Intermediate resistance at 45.36.  Tomorrow will offer a $44 billion 7-year note auction that may cause more consternation among … Continue reading →

  10:05 am The breakout in the Ag Index that I warned you about last week has now come to pass in the GKX.  There can be no better buy signal than this.  In addition, the Cycles Model shows trending … Continue reading →

 1:19 am SPX may be threatening to make a Key Reversal today.  A decline beneath 5286.00 may make it occur.  Should it happen, the top is in.  Forget about all the happy talk.  The party may be over. ZeroHedge notes, … Continue reading →

9:35 am \ BKX, our liquidity proxy, shows the need for a final probe higher, possibly to 111.50.  Today is day 257 of the current Master Cycle.  The final probe may be complete by Friday.  The Fed rescue of the … Continue reading →

11:36 am The Agriculture Index has found support at the 50-day Moving Average at 385.35 and is moving toward the upper trendline near 400.00.  A breakout above that level puts the Ag Index in a firmly bullish trend that may … Continue reading →

7:30 am Good Morning!  Have you prayed this morning? SPX futures have consolidated between 5306.00 and 5314.00 thus far this weekend.  All seems quiet this morning, the consensus seems to think things are getting better despite deteriorating conditions domestically.  Iran’s … Continue reading →

7:30 am Good Morning!  Are you praying?  Today is Nineveh 40 days minus 1. SPX futures are flat this morning, with only a 10-point trading range overnight near 5300.00.   The Master Cycle high may have been made yesterday, on day … Continue reading →