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Stock Market SPX Making its Final Probe Higher

Stock-Markets / Stock Markets 2016 Nov 29, 2016 - 04:27 PM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX took plan A mentioned this morning, finding support at 2198.15. The limit to the rally is now adjusted to 2231.12. However, we have a trendline at 2220.00. In addition, Wave C equals .618 of Wave A at 2216.96.

Those brave souls wishing to be aggressive may wish to do a partial short position between 2217.00 and 2220.00.


The Hi-Lo is still beneath its mid-Cycle resistance, but another 10 point higher probe will probably take out the signal. It is likely that SPX will be beneath the smaller trendline at 2200.00 before the VIX and Hi-Lo make their final signals.

The larger picture shows that SPX is 7.74 years from the March 9, 2009 low on Monday, December 5. There is some probability of an early top on Friday, but we won’t know until we get there whether it is worth paying attention to.

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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