Author Archives: tonych

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 →

10:35 am SPX continues to challenge Intermediate support at 4477.00.  It is in short gamma territory with a very large contingent of short contracts (4781 puts) at 4450.00.  Breaking through that level may produce a gamma-driven panic.  However, should there … Continue reading →

11:41 am The Ag Index is hovering just above the July 13 low.  Despite the deteriorating conditions overseas, the U.S. markets are still sanguine and likely affected by declining liquidity and slower consumer demand.  The Cycles Model suggests the decline … Continue reading →

10:15 am SPX bumped up against 4530.00 and pulled back, creating a potential Head & Shoulders formation.  Provided the neckline remains intact, we may see a decline to the target and probably lower.  The next support may be the 50-day … Continue reading →

12:00 pm The bounce came a little sooner than expected, suggesting investors are buying the dip.  Should SPX bounce to 4530.00 or higher, then SPX may rise to the trendline near 4580.00.  However, should the bounce fail to overlap Thursday’s … Continue reading →

12:16 pm BKX made its Master Cycle high Thursday, on day 258.  It may be in decline toward its 50-day Moving Average at 83.38, where it may bounce.  I had commented earlier on a possible probe higher, but the odds … Continue reading →

8:00 am Good Morning! NDX futures declined to 15670.40.  It is on an early aggressive sell with key support at 15500.00.  NDX is extremely extended with common recognition of support at the 50-day Moving Average at 14855.73.  While the NDX … Continue reading →

1020 am I have had some questions from readers about the “Long View” in the SPX.   I actually became aware of this trendline in 1987, as the SPX found support on it at the October 22 low.  That gave me … Continue reading →

7:50 am Good Morning! NDX futures bounced from its 3-month trendline at 15425.00 to make a partial retracement to 15617.50, beneath the Cycle Top resistance at 15648.95.  It remains on an aggressive sell signal.   The Master Cycle high remains on … Continue reading →