Author Archives: tonych

2:00 pm SPX rose above the 50-day Moving Average, probing to 5514.94.  There is a minor possibility of a slight probe higher, possibly to the 50% retracement level at 5528.02.  However, the bounce has fulfilled its purpose to totally confuse … Continue reading →

9:50 am BKX is hovering above its 50-day Moving Average at 110.15 this morning.  Beneath that level is a confirmed sell signal.  While stocks are beginning to show the effect of the unwinding of the Yen carry trade, the banks … Continue reading →

8:00 am    2 Chronicles 7:14  “If my people, which are called by my name, shall humble themselves, and pray, and seek  face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sins, and … Continue reading →

9:50 am BKX declined beneath the Cycle Top support/resistance at 114.86 and beneath its Master Cycle high at 116.05 made on August 30.  BKX may owe its rally until the end of August to hedge funds that were buying, while … Continue reading →

10:30 am XDN broke out above its retracement high and may threaten the Cycle Top resistance at 70.86.  The carry trade is being threatened by this rise in the Yen and may force a significant unwind of leveraged positions in … Continue reading →

8:15 am   2 Chronicles 7:14  “If my people, which are called by my name, shall humble themselves, and pray, and seek  face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sins, and … Continue reading →

3:07 pm SPX has crossed beneath its prior lows at 3060.95 and short-term support at 5572.24.  This places it on an aggressive sell signal.  An aggressive sell indicates it may no longer be profitable to own the SPX, but a … Continue reading →

2:45 pm  This will be my last entry until September 3.  Happy Labor Day! SPX has just gone negative after a valiant, but failed attempt to better Monday’s Master Cycle high.  At the same time, the DJIA made yet another … Continue reading →

11:55 am We may legitimately put NDX on a sell signal, having made a lower low beneath the 50-day Moving Average.  SPX isn’t far behind.  It must decline beneath Thursday’s low at 5560.95 to earn a sell signal.  Finally, the … Continue reading →

10:00 am BKX, our liquidity proxy, has retreated from its Master Cycle high and trendline at 114.50. Today it has declined beneath its Cycle Top support at 114.15.  This may create an aggressive sell signal on day 256 of the … Continue reading →