Stock Market Rally May be Complete
Stock-Markets / Stock Markets 2016 Jul 12, 2016 - 12:31 PM GMTSPX has now completed a 60-hour rally from the 1991.68 low after a 13-hour decline from the 2113.32 high. It appears to be complete.
ZeroHedge reports, “Having tumbled to its "fear-iest" in 4 months the day after the Brexit vote, CNN's Fear & Greed indicator has roared higher to 82...
The "greed-iest" since mid-2014... the last time that The BoJ went full crazy with QQE2 (as The Fed ended QE2) and was rapidly followed by Jim Bullard's QE4-hint-driven bounce...”
These extremes beg to be corrected. A decline beneath the trendline at 2130.00 may be considered an aggressive short entry.
VIX bounced out of its nominal new low. It appears to have completed its Wave (2) correction. The buy signal comes above its 50-day Moving Average at 16.17.
I will be leaving for family vacation on Wednesday and will not return until Sunday evening. There will be no Mid-Week Report nor will there be a Weekend Report. I know this is a critical time, but should a decline be underway, we may not see a resolution for at least another week, at the very least.
Regards,Tony
Our Investment Advisor Registration is on the Web.
We are in the process of updating our website at www.thepracticalinvestor.com to have more information on our services. Log on and click on Advisor Registration to get more details.
If you are a client or wish to become one, please make an appointment to discuss our investment strategies by calling Connie or Tony at (517) 699-1554, ext 10 or 11. Or e-mail us at tpi@thepracticalinvestor.com .
Anthony M. Cherniawski, President and CIO http://www.thepracticalinvestor.com
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.
Anthony M. Cherniawski Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.