VIX is holding steady above Friday’s close. Of course we wish to see it move above the 50-day Moving Average at 17.15. It appears to be forming a running correction, which is highly irregular and bullish for VIX.

The sell signal is being confirmed by the NYSE Hi-Lo index, which has declined beneath Friday’s low at -20.00 this morning. Internal market conditions are deteriorating. That suggests, once the retracement is complete, there may be a very strong downdraft in equities.

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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