Author Archives: tonych

2:09 pm SPX is rising back above its 50-day Moving Average at 5125.00.  The next hurdle is close by at 5138.00.  Once above thos3e hurdles, it may have a target of 5370.00-5400.00.  However, next week opens the door for a … Continue reading →

7:45 am  I will be away for the day.  Perhaps tomorrow may bring more certainty. Good Morning! NDX futures rallied to an overnight high at 17502.50, a 57% retracement, but deflated back beneath the 100-day Moving Average at 17485.15.  The … Continue reading →

4:00 pm SPX made a 75% correction of the decline, then puked to the lows.  This is not a good sign.  Could this be the beginning of a Wave 3 decline?  Comments in the morning. ZeroHedge remarks, “Powell to traders … Continue reading →

8:15 am Good Morning! SPX futures slipped to 5104.40 this morning after having tested short-term support at 5085.29 (not shown) during yesterday’s session.  The 50-day Moving Average remains as resistance at 5121.79.  Intermediate resistance is at 5147.06.  A break higher … Continue reading →

8:00 am Good Morning! SPX futures are edging higher, having made a new weekend high at 5115.40.  The 50-day Moving Average is at 5118.66.  A close above that level indicates an ability to go higher, completing a complex fractal with … Continue reading →

The Nineveh Cycle? On April 8, 2024 the nation was transfixed by a celestial phenomenon – A total solar eclipse that could be seen by a significant population in the US.  The first city in the United Stated that it … Continue reading →

3:32 pm Although SPX began today in a panic decline, it was rescued out of short gamma (beneath 5050.00) by a bounce at the 2-hour Cycle Bottom support at 4994.69.  The close may be near the options neutral zone from … Continue reading →

8:00 am Good Morning! NDX futures rose to an overnight high at 17607.90, but then have pulled back .  It closed yesterday just under the 38.2% Fibonacci retracement value at 17489.54.  This morning’s probe may attempt to reach the 50% … Continue reading →

2:20 pm SPX has exceeded the 38.2% retracement level at 5070.16 and appears to have completed its bounce or nearly so.  I wish yo point out a possible bearish formation that indicates a minimum target that may be reached in … Continue reading →

11:11 am NDX rose to the Max Pain level, but could not escape short gamma.  A decline beneath 16973.94 puts the NDX into serious short gamma which may accelerate the decline.  Gamma is at the most negative reading year-to-date, but … Continue reading →