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How to Get Rich Investing in Stocks by Riding the Electron Wave

Stock Market Retracement Appears Complete. We're Still on a Sell Signal

Stock-Markets / Stock Markets 2016 Aug 03, 2016 - 05:54 PM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX appears to have completed its retracement a little shy of Short-term resistance at 2162.30. The retracement was 45%, less than the 50% that I had suggested. The time elapsed for the round trip from top-to-top was 17 hours. This may set the tone for the next decline, as well. Investors should be at least 50% short at this time.


ZeroHedge opines, “For the first time since 2014, the S&P 500 has exceeded the average year-end forecast by Wall Street strategists... suggesting either this isas good as it gets, or some upward adjustments to analyst guesses is overdue...”

VIX came off its low without overlapping. That clears the way for a probe to the 50-day Moving Average at 15.32. It appears that Wave [i] of 3 is not yet complete. The next wave may be an extended one.

TNX may have completed its retracement short of the trendline at 15.75. This verifies the Wave structure in TNX. The Cycles Model suggests that the decline may extend through the last week of August.

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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