SPX has broken the 50-day Moving Average at 2164.60 and is challenging the 2-hour Cycle Bottom. Because this is the crash decline, it may not stop for the trendline, either.

The SPX decline has a lot of downside work to do, so don’t be surprised.

If you are not already 100% short, now is your chance. The SPX is on a confirmed sell signal.

As expected, the VIX shot above its 50-day, putting it on a confirmed buy signal. In addition, it is now above the Cycle Top, which may act as support for further rallies. A breakout above 14.93 would be the “icing on the cake”.

The NYSE Hi-Lo is also on a confirmed sell signal, subject to a close beneath the mid-Cycle support at 49.43.

TNX is also going higher and USB lower as cross-asset contagion has investors stymied. Cash seems to be the only option for those who are not market savvy. This may create a steepening of the yield curve as 30-day paper goes negative.

Regards,

Tony

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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.

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