We can now say that the Wave structure is complete with a throw-over above the Cycle Top. We have round number resistance at the top as well. The reversal begins with the re-entry back beneath the Cycle Top, which appears to be happening now.

Until now, we have had no luck with top-picking. However, I am persistent and believe that we will see a Master Cycle low within the next two weeks.

ZeroHedge reports that today’s ramp may be due to a massive short squeeze.

That makes sense because the VIX has stayed handily above the 50-day Moving Average today, maintaining its aggressive buy signal.

This call is out on a limb, so I am only suggesting a partial position, as I always do on an aggressive signal.

But it may finally pay off.

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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