Author Archives: tonych

12:10 pm SPX is nearing the end of a probable Triangle formation.  Once complete, it may rise to 4475.00 to 4485.00.    Triangles often precede the final Wave in a series.  Standby for a final push higher this afternoon.  Once … Continue reading →

12;00 PM For those of your who may not be aware, the La Palma Volcano has intensified its eruptions and opened up yet another vent.  The threat of a tsunami intensifies, although the NOAA?National Weather Service has not recognized it … Continue reading →

10:45 am I had originally labelled the Waves at 1-2-3.  However, the overlap and dimensions suggest otherwise.  I have concluded that we are either in a (1)-(2) or (A)-(B) formation in a Leading Diagonal Wave (1).  The rally is now … Continue reading →

8:05 am Good Morning! SPX futures rose to an overnight high of 4388.50, cchallenging the Cycle Bottom resistance at 4376.39, but staying beneath yesterday’s high of 4394.87.  This is meant to work off the oversold condition so that Stochastics reach … Continue reading →

10:05 am SPX rallied to the 50% Fib retracement level at 4396.49 in the first hour, a bit higher than expected.  The Cycles Model suggests the decline resumes this morning with the largest panic-selling episode just ahead.  While we may … Continue reading →

2:45 pm SPX bounced at Nomura’s final support (before oblivion) at 4310.00, having gone past the 100-day at 4328.00.  Whether it holds or not is still in question.  A decline beneath 4300.00 introduces the concept of a running correction, that … Continue reading →

12:38 pm SPY may be on the verge of a gamma meltdown as there are 17,000 more put contracs than calls at 446.00.  At 445.00 there are 33,500 more puts than calls.  At 444.00 there are 28,000 more puts than … Continue reading →

3:46 pm SPX appears to have completed its retracement (Wave 2).  Time to sell.  The retracement was comparatively weak, lesss than the 50% expected at 4490.52.  This market is going down.   7:30 am Good Morning! SPX futures are lower … Continue reading →

1:24 pm SPX  has retraced most of the way to its trendline near 4485.00.  The 50% retracement value is 4490.78.  Currently it has gone to 4479.91, just above the 38.2% Fib retracement at 4477.72 in a Wave [a] of 2.  … Continue reading →

1:23 pm I finally figured that the problem with my charts originated at Google.  However, the new search engine doesn’t work the same.  It will take some getting used to.  As you can see, the SPX is on a chart … Continue reading →