CAF continues to pull back from what appears to be its Minor Wave 3 of Intermediate (5) high. We are approaching the point where this analysis is wrong. Should CAF decline beneath 24.01, there is a rising probability that the top is in.

I just thought you should know…

SPX is approaching its final support level at 1449.00. There may be a bounce here, but the warning is that a decline beneath 1449.00 may lead to a free-fall scenario. Remember that the rally from 1425.00 to nearly 1460.00

Occurred in the first half-hour of the open on January 2. The unwinding could be just as powerful, if not more so.

Regards,

Tony

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As a State Registered Investment Advisor, The Practical Investor (TPI) manages private client investment portfolios using a proprietary investment strategy created by Chief Investment Officer Tony Cherniawski. Throughout 2000-01, when many investors felt the pain of double digit market losses, TPI successfully navigated the choppy investment waters, creating a profit for our private investment clients. With a focus on preserving assets and capitalizing on opportunities, TPI clients benefited greatly from the TPI strategies, allowing them to stay on track with their life goals

Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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