Author Archives: tonych

6:00 am Good Morning! A few thoughts in preparation to leaving. SPX futures have reached an overnight high of 4417.90 on their way toward the 50-day Moving Average at 4448.34.  It has cleared short gamma at 4400.00 and may probe … Continue reading →

12:36 pm SPX is on its second day of retracement.  It has pulled out of Short gamma beneath 4375.00 and may be heading toward Max Pain at 4395.00 into the close.  There may be a need to “buy more time” … Continue reading →

10:50 am SPX bounced off the named support at 4335.00 this morning and has moved above the wall of puts at 4350.00.  Another wall awaits at 4400.00, while Max Pain lies at 4450.00.  This pattern has created  a new Head … Continue reading →

2:05 pm SPX is approaching a minor support near 4380.00.  You may see a bounce back to 4400.00.  Otherwise, the decline continues for another possible two weeks.  Short gamma is getting even shorter. ZeroHedge remarks, “Bonds and stocks are trading … Continue reading →

8:00 am Good Morning! NDX futures have remained in a tight range overnight, venturing higher, but settling beneath the 50-day Moving Average at 15149.46.  It is on a confirmed sell signal with possibly up to two weeks of decline ahead.  … Continue reading →

1:37 pm SPX came within points of the 50-day Moving Average at 4339.00 and bounced to 4460.00.  It is coming back down for a retest.  Supports vanish beneath that level, so we may expect quite a drawdown once the break … Continue reading →

10:15 am The Ag Index is heading into its last week of decline prior to its proposed Master Cycle low.  As reports of the harvest season come inwe may gain insights on the adequacy of the harvest.  However, world wide … Continue reading →

3:12 pm SPX is caught in short gamma with heavy layers of puts at 4500, 4480 and 4465 trapping it and effectively keeping it from rallying.  At the same time there are more clusters of puts at 4450 and below … Continue reading →

3:00 pm Update:  SPX declined to a new low this afternoon, just above the short gamma wall at 4450.00.  A bounce has ensued with the intent (?) of closing at Max Pain at 4495.00.  However, this probe may be stopped … Continue reading →

11:05 am SPX has ventured into short gamma beneath 4490.00.  The 2-hour mid-Cycle and Intermediate support lies at 4481.00.  Hourly Cycle A ended at yesterday’s close.  Hourly Cycle B is beginning as short gamma begins to influence the SPX.  This … Continue reading →