Author Archives: tonych

2:25 pm SPX is meeting fierce resistance at the September 21 gap beginning at 4375.70 and open to 4401.30.  It spent two weeks trying to overcome it in October, but failed.  Unfilled gaps are powerful resistance points, due to their … Continue reading →

1:03 pm SPX has made a very irregular retracement, as shorts get squeezed mercilessly.  By most standards, the retracement should have ended yesterday.  The retracement has taken back 70% of the decline since October 17 thus far.  It may be … Continue reading →

10:30 am The retracement of the BKX only amounts to 17%.  Yet, the correction may be complete, or nearly so.  This bounce is not to be trusted. ZeroHedge notes, “Recent data from Edmunds reveals that an unprecedented 17% of American … Continue reading →

8:00 am Good Morning! NDX futures have risen to an overnight high of 14368.00.  Overhead resistance may lie at the 38.2% Fibonacci level at 14542.40 or possibly higher, at 14643.70, where an unfilled gap may stop the retracement.  The NDX … Continue reading →

3:05 pm Crude Oil had dropped beneath the Head & Shoulders neckline at 82.50 to a low of 81.84.  It is on a sell signal.   10:00 am BKX, our liquidity proxy is due to bounce after making a Master … Continue reading →

8:00 am Good Morning! Please Note:  This will be my last entry for the week, as family concerns take precedence.  I will return on Monday with more updates. NDX futures are consolidating this morning after a completed 38.8% retracement.  While … Continue reading →

12:30 pm SPX has risen to the mid-Cycle resistance currently at 4257.38, then reversed down beneath the 200-day Moving Average at 4236.85.  It may be back on a sell signal, but with confirmation beneath 4200.00.  Too many pundits are not … Continue reading →

1:30 pm SPX did an early correction to retest the mid-Cycle resistance at 4256.41.  Having done that, it may resume its decline beneath the lower trendline at 4150.00.  There is little support down to 3800.00.   7:30 am Good Morning! … Continue reading →

2:55 pm SPX is challenging the 200-day Moving Average at 4233.000 this afternoon.  Should it break through, the next support may be the declining trendline near 4150.00.   Dealers may be desperate to hold the line here, since there is a … Continue reading →

1:30 pm SPX may have been stopped by the trendline at 4339.50,a 47% retracement VS. a 61.8% Fibonacci retracement mentioned this morning.  The decline may be resuming.   8:00 am Good Morning! NDX futures made a new low at 14828.00, … Continue reading →