Category: Uncategorized
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Folks, Market Observations for the Week: The SPX continued to decline on Wednesday, may have finished an EW a-b-c correction on the hourly chart, and triggered a SPY “reversion to mean” system that we follow to the BUY side. We were early on our bullish call on Tuesday night but are now looking for the SPX…
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Folks, Market Observations for the Week: The SPX and NDX gave us a Negative Volume Reversal Day on Friday and that could give us some stock market consolidation into Monday/Tuesday. However, we see a possibility of a new run to a new SPX ATH above 6920 by the 12/19-12/22 New Moon Timing Window. The Fed…
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Folks, Market Observations for the Week: The SPX declined in just 3-waves into Fed Wednesday and then rallied to test 6900 after Chairman Powell’s press conference – the Fed announced both a $40B QE to dampen volatility in the repo market as well as a 25 bps rate cut in the Fed rate – this is…
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Folks, Market Observations for the Week: The SPX continues to consolidate into the Fed minutes on Wednesday. A G3 solar storm is striking the Earth which can lead to SPX weakness. Our bias, however, is bullish for a year-end rally and we are inclined to buy the SPX if the Fed gives a 25 bps rate…
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Folks, Market Observations for the Week: The SPX gave us 5-waves up on the hourly chart from the 11/20 low on Friday and started a correction that could last to Fed Wednesday this week. Our Option Premium Ratio has given us a series of bullish “island reversal’ patterns that argues for a new ATH in December…
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Folks, Market Observations for the Week: The SPX pulled back on Monday and then has bullishly consolidated into the 12/4-12/5 Full Moon Timing Window. Our Option Premium Ratio has given us a series of bullish “island reversal’ patterns that argues for a new ATH in the SPX by Friday/Monday. The SPX is giving us just a…
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Folks, Market Observations for the Week: The SPX, NDX and IWM opened December trading with a “Negative Volume Reversal Day” on Monday. The SPX made a low-volume test of an “overhead supply zone” on Friday and found resistance and is now consolidating into the 12/3-12/5 Full Moon Timing Window. The SPX is giving us just a…
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Folks, Market Observations for the Week: The SPX, NDX and IWM opened December trading with a “Negative Volume Reversal Day” on Monday. The SPX made a low-volume test of an “overhead supply zone” on Friday and found resistance and could now see more decline down into the 12/3-12/5 Full Moon Timing Window. The SPX is also…
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Folks, Market Observations for the Week: The SPX and NDX rallied on light volume Friday and tested some overhead “supply zones”. The market is now set for a pullback into the 12/1-12/2 turn window defined by the 34-day Fibonacci step out from the 10/29 SPX ATH at 6920. The CBOE put/call ratio spiked to 1.39 on…
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Folks, Market Observations for the Week: The SPX gave us a 3-day rally day into Tuesday and we are up into early Wednesday – our Option Premium Ratio gave us an “Island Reversal pattern” on the close of Tuesday and that has turned us short-term bullish – this signals a retest of the SPX ATH at…