SPX is struggling to make a 50% retracement of this morning’s decline. It appears complete, but we cannot rule out an algo attack in the final minutes. SPX remains on a sell signal.

VIX also remains on its buy (SPX sell) signal. The VIX ETFs are also back in the red after challenging the 2-hour Cycle Top resistance all day.

The NYSE Hi-Lo Index remains on a sell while beneath its mid-Cycle resistance at 52.16.

So, despite the market’s reluctance to decline much, all the signals remain on a SPX sell, VIX buy.

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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