Author Archives: tonych

2:36 pm The NYSE Hi-Lo is now on a confirmed sell.  This is the final piece of the puzzle saying, “go short, young man!”   1:05 pm SPX is looking weak after it has completed an impulsive decline.  Normally we … Continue reading →

12:45 pm NDX also made a new all-time high, then threw a tantrum.  The trendline lies at 16400.00.  No signal yet, but its time to be alert. ZeroHedge remarks, “Update (1200ET): After Powell’s nomination, and a tailing 2Y Auction, it appears … Continue reading →

7:45 am Good Morning! SPX futures touched a new high of 4727.20 overnight, but are sinking away from the gamma-laden options strike at 4700.00 this morning.   The morning low was 4688.40 thus far.  Today is day 260 in the old … Continue reading →

11:00 am The Banking Index, proxy for market liquidity, has finally declined beneath Intermediate-term support at 138.44.  BKX declined beneath its Cycle Top support on November 3, but stayed glued to it for almost two weeks.  Today its departure signals … Continue reading →

3:10 pm TNX has settled down to its session low after the Treasury auction this afternoon.  It may retest its Intermediate-term support at 15.67 before resuming its rally. ZeroHedge observes, “After last week’s catastrophic 30Y auction, traders were keeping a … Continue reading →

10:33 am SPX is  in a tug-of-war between the bulls and the bears with the dealers attempting to keep it near Max Pain at 4685.00.  However, the Cycles Model implies a swift decline in the next week, which affords the … Continue reading →

2:27 pm I made a statement in error this morning.  I claimed that there was no Master Cyce terminus in the next two weeks.  I was wrong.  I tagged the November 5 high as the end of the Master Cycle … Continue reading →

1:02 pm The SPX has reached one of its possible retracement values where Minute Wave [c] is equal to Wave [a] at 483.00.  However, the Elliott Wave structure may not be complete and the 61.8% retracement is at 4685.02.  In … Continue reading →

11:02 am A curious thing is happening here.  At about noon today, the SPX may complete its first declining Cycle and retracement in 30.1 hours (4.3 days).  It has been stopped at the 38.2% retracement value at 4664.55 and doesn’t … Continue reading →

4:15 pm Should have bought those puts… ZeroHedge remarks, “People hated puts when they should have loved them We saw people puke puts just in time for the reversal. Nothing new really, but it adds to the complex psychology of … Continue reading →