Author Archives: tonych

11:05 am Theepochtimes comments on food prices, “Food prices across the world have risen to their highest levels in a decade on the back of tightening supply conditions coupled with robust demand, according to the Food and Agriculture Organization of the … Continue reading →

8:00 am Good Morning! SPX futures are hovering near 4400.00 this morning, no doubt due to the influence of options expiration at the close today.  At 4400.00, there is open interest of 5,833 call contracts and 4599 put contracts.  beneath … Continue reading →

11:30 am SPX overshot beyond the 17.2 hour time allotted and the 50% retracement level at 4412.00.  However it did fall short of the 61.8% retracement level at 4440.00 an the 50-day Moving Average at 4438.00.  The basic analysis remains … Continue reading →

3:20 pm As a further evidence of a bearish structure, the NYSE Hi-Lo Index opened negative and remains so going into the close.  The adjusted reading (sans the ETFs), which will not be available until morning, may be considerably more … Continue reading →

2:11 pm SPX spent precisely 8.6 hours in this retracement which fell short of the 50% Fibonacci level at 4371.34.  It is also 8.6 days from the Wave (B) high.  While it may go higher, it has relieved the oversold … Continue reading →

1:05 pm A momentous occasion…NDX just crossed beneath its Ending Diagonal trendline, implying a complete retracement of its rally since March 23, 2020.  For those of you who question my ‘Point 6″ of the Orthodox Broadening Top, the low at … Continue reading →

6:00 am I am on the road today to visit my mother on the occasion of her 91st birthday.  This morning’s session will be brief. Good Morning! SPX crossed beneath the 100-day Moving Average at 4344.43 yesterday and SPX futures … Continue reading →

12:52 pm SPX has lost its grip on its support at the 100-day Movig Average at 4345.00 and is now entering the panic phase of the market.  Gamma is seriously negative below 4400.00 and may only beget more selling.  Can … Continue reading →

11:40 am While SPX hugs its Max Pain zone at 4375.00 to 4400.00, NDX is also walking a tightrope in the options arena.  QQQ (359.95) is the best example where a slip may plunge it into the abyss.  At the … Continue reading →

2:55 pm SPX bounced from the 100-day MovingAverage at 4341.00 at 1:00 pm.  It appears that the bounce may be ending shortly.  The 38.2% retracement level is at 4391.05, if it can make it.  This is no time for taking … Continue reading →