Author Archives: tonych

3:43 pm SPX is closing right at the cusp of a breakdown after retracing 67% of the first week decline.  This appears to be a one-off event.  As mentioned this morning, it is attempting a close at “Max Pain” at … Continue reading →

11:08 am BKX, the market’s liquidity proxy, may have made its Master Cycle high on Friday.  Although there may be a few days left in the current Cycle, the retracement structure may be complete.  Evidence of this may be a … Continue reading →

1:31 pm Today is day 246 in the current Master Cycle for BKX.  You would think there may be another two weeks before a reversal may happen.  However, it is fast approaching the 61.8% Fibonacci retracement at 98.51 which may … Continue reading →

11:33 am SPX may be at the end of a less-than Fibonacci retracement at 30.1%, a very weak rebound from this morning’s new low.  We may see the decline resume with strength within the hour.     7:45 am Good … Continue reading →

8:25 am Good Morning! NDX futures declined to 16423.00 thus far, as it searches for Intermediate support at 16242.00.  A bounce may normally occur at or above Intermediate support.  However, should it decline through that support, the 50-day Moving Average … Continue reading →

2:24 pm BKX, our liquidity proxy, may be attempting to make the 61.8% Fibonacci retracement at 98.51.  Today is day 243 in the current Master Cycle, which allows a few more days of rally either until something breaks or quarterly … Continue reading →

12:46 pm SPX has declined to the convergence of the short-term trendline and the 1987 trendline.  A break beneath the double trendline offers an aggressive sell signal.  One should not own stocks beneath that point.  The first confirmation is at … Continue reading →

10:20 am BKX is still hovering near its December 14 Master Cycle high.  It has been 9 market days since its high.  A sekl signal may be found beneath its Cycle Top at 92.41.  Be alert since a reversal may … Continue reading →

9:40 am On of the biggest beneficiaries of the Fed largesse is the banking sector.  At the end of October BKX was threatening to break through the neckline of a 4-year wide Head & Shoulders formation near 71.00.  Banks are … Continue reading →

8:45 am Good Morning! SPX futures consolidated between 4752.00 and 4766.00 this morning.  The markets are thinly traded and large institutions seem to be absent from the scene.  The Cycles Model shows the SPX being calm for the balance of … Continue reading →