Author Archives: tonych

6:55 am Good Morning! SPX futures made a low of 4151.62 in the overnight session and is now hovering near 4165.00.  A view of the options chain reveals 1223 net put positions at 4175.00 while the strike at 4150.00 is … Continue reading →

3:05 pm SPX may have stalled at Short-term resistance at 4155.54 and mid-Cycle resistance at 4154.80.  The reason may be that most investors went short on the way down at these levels and now the short-covering rally has run out … Continue reading →

3:25 pm BKX bounced off its trendline just above Intermediate-term support at 126.27.  There is some evidence that this may be the last bounce before oblivion. ZeroHedge reports, “In today’s FOMC Minutes there was a brief section that received little … Continue reading →

3:53 pm The trendline at 4140.00 is broken again.  The next target, but not the last, is the 50-day Moving Average at 4065.43.  The Broadening Wedge target may be the minimum for this decline.  This could be exciting… I have … Continue reading →

7:00 am Good Morning! NDX futures slipped back beneath the .382 Fibonacci retracement level at 13381.39 and the 50-day Moving Average at 13369.92 this morning.  All in all, this was a weak retracement for the NDX, despite Friday’s algo-driven push … Continue reading →

9:15 am GKX stalled at the mid-Cycle support at 442.41 yesterday, suggesting a bounce may be imminent.  That suggests the correction may be an expanded formation, allowing GKX to move even higher.  The Cycles Model shows an unusual strength in … Continue reading →

11:38 am Food prices are taking a breather that may last through early June, per the Cycles Model.  The downside target is near the 50-day Moving Average at 410.00.  Crops and livestock are being affected by the soggy southeast and … Continue reading →

4:00 pm The VIX has pushed through its declining Wedge trendline and may have reached a point of recognition by those buying “protection.”  This breakout holds a promise for more rally to come.   3:55 pm NDX is also approaching … Continue reading →

12:15 pm I was dubious about the NDX filling the gap this morning.  However, it managed to bounce back to the 50-day Moving Average as resistance, just a dozen points short of yesterday’s close at 13359.40.  The selling pressure may … Continue reading →

10:15 am The Dow Jones Industrials Exceeded 35000.00 and may briefly touch the Fibonacci 3.25 X Wave [1] at 35152.00 today.  It is also up against the 1987 trendline that has defined tops and bottoms for the past 33.54 years.  … Continue reading →