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How to Protect your Wealth by Investing in AI Tech Stocks

SPX, TNX Both Threatening a Breakdown

Stock-Markets / Financial Markets 2015 Dec 28, 2015 - 01:50 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Good Morning!

The SPX Premarket is down nearly 8 points as I write. It is possible that it has formed another Triangle formation, just as it did prior to the August panic. If so, we may see a break to the downside sometime this week. Most other analysts are focused on the idea that this is bullish. A break of the lower trendline will be proof that it isn’t.


ZeroHedge reports, “The last trading week of 2015 begins on a historic precipice for stocks: as reported over the weekend, the U.S. stock market has not been lower for any year ending in a “5” since 1875.”

Crude is back on a decline. “While everything was awesome last week (apart from the last 10 minutes), it appears lower oil prices this week (WTI just crossed back below Brent's price and under $37 once again) is not "unequivocally good" for US equity markets. Following the bloodbath in China's "B" Shares overnight, traders are hoping this pain will stop once the machines "get back to work" at 930ET...”

You can see that TNX has the same type of formation as SPX. This similarity is no accident, as TNX is on an Ending Diagonal while SPX appears to be on a Leading Diagonal (Wave (1).

The edge of the huge Midwestern ice storm is just 30 mile south of us at this time. It is threatening about a half inch of ice during the day, so I may be without power or internet for a while.

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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