Author Archives: tonych

12:02 pm While the DJIA and SPX have gone on to make new all-time highs, the NDX appears to have completed a nearly exact 61.8% retracement of its decline.  It’s time to step back and see what happens here. On … Continue reading →

1:15 pm Certain dealers and hedge funds are using their past experience to predict a possible short squeeze imminently.  NDX has been battling at mid-Cycle resistance at 13560.00 this morning and its Wave structure may not be complete.  Two possible … Continue reading →

8:00 am Good Morning! NDX futures climbed to a morning high of 13627.00, above the mid-Cycle resistance at 13533.94, an approximate 34% retracement.  The futures page contains some inaccuracies that lead me to take that information with a grain of … Continue reading →

1:56pm NDX bounced just above its 50-day Moving Average and shows no intention of taking back its losses.  Based on the Chart Model, NDX is likely to retest the mid-Cycle resistance at 13531.05 before going lower.  A decline beneath the … Continue reading →

7:30 am Good Morning! While the SPX and NDX appear weaker, SPX has  not declined beneath Short-term support to establish a bearish pattern.  The DJIA has been riding the up-sloping Short-term support while the upper probes have been declining to … Continue reading →

3:00 pm Here’s a binary question; Which comes next, the sellers or the buyers?  All the indexes are hovering near their daily lows, but are short-term oversold.   As we observed yesterday, the short squeeze ran out of fuel before it … Continue reading →

1:20 pm According to Nomura, a “Crash Up” is possible.  Investors are buying hedges and may be subjecting themselves to a potential short squeeze.  I disagree for two reasons.  First, look at the Industrials.  It made a high of  34032.83 … Continue reading →

2:30 pm The usual 2:00 pm jolt from the FOMC announcement fell short of the morning high.  SPX tested the trendline by declining to 4181.79.  It has made a weak bounce.  Confirmation of a decline may be made at Short-term … Continue reading →

10:22 am The GSCI Ag Index made a new 8-year high this morning, on day 265 of its Master Cycle.  Should the Ag Index reverse from here, it may make a 50% retracement to the Head & Shoulders neckline over … Continue reading →

7:30 am SPX made a new all-time high on Friday, just before the close.  SPX futures have been trading in a very narrow range between 4163.88 and 4175.88.  SPX has 17 days to its Master Cycle termination.  However, the Cycles … Continue reading →