There is no wonder that SPX is lower this morning. It closed beneath the lower trendline of its Orthodox Broadening Top last night. The Premarket shows the SPX down 7.5 points this morning, a low not seen since February 7. The 4-year uptrend line is also broken, suggesting a complete retracement to the October 4, 2011 low at 1074.00 in Cycle Wave I. that may come as early as mid-January 2016.

ZeroHedge comments about the Value Line Geometric Composite Index also breaking its 4-year uptrend line.

TNX broke its Head & Shoulders neckline at 20.82 this morning. This is indicative of a very strong move into Treasuries. The TYX (30-year Treasury Yield) shows a similar pattern, with long term rates going to 2.25% in the next move.

Things are going as anticipated.

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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