Today is a Stock Market Cycle Turn Day
Stock-Markets / Stock Markets 2015 Mar 23, 2015 - 02:33 PM GMT
Good Morning!
My earlier forecast of a low on the 13th and a high on the 23rd seems to be prescient. This has been a rather shallow decline and a very sharp rally, but the SPX has managed to become overbought again without breaking new highs. This leaves the vast majority of investors in a very casual mood about the dangers of a decline
Charles High Smith writes, “Who Left the Crash Window Open?” A very insightful piece.
ZeroHedge writes, “January's "optimistic" +0.13 print for CFNAI was revised drastically lower to -0.10 and now February prints -0.11 against an expectation of +0.10 for the 3rd miss in a row - the worst run since Q3 2011. The Chicago Fed National Activity Indicator (which has gained in prominence in recent months) indicates a 3rd month of "below trend growth," for the first time since June 2011.”
Today is a cycle Pivot day. Let’s see what develops…
VIX has touched its 2-hour Cycle Bottom last Friday. This leaves open the probability of an upside breakout (above 17.19) very quickly.
TNX is also at its Cycle Bottom in Micro Wave b. There is still a quick Wave c to come and it has a good probability of rising to the hourly Cycle Top at 22.33.
This week
Regards,
Tony
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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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