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U.S. House Prices Analysis and Trend Forecast 2019 to 2021

Stock Market Panic Scenario Developing

Stock-Markets / Financial Crash Oct 02, 2012 - 10:05 AM GMT

By: Anthony_Cherniawski

Stock-Markets

Good Morning!

The Scenario that I discussed last night is playing out.  Remember, this formation is comprised of zigzags, or a-b-c waves.  This morning’s pop is a B wave.  We will have confirmation of that once SPX declines below 1440.98. 

This decline will be the wake-up call, but many will fall back asleep when a strong 61.8% retracement from the 50-day moving average (1413.99) back to mid-cycle resistance at 1450.45 follows. 


Please note the newest Broadening Wedge formation in the SPX.  It has a trigger at 1440.00, so the odds are good that the crash may even start at 1440.00!  Nevertheless, I still expect the bounce from the 50-day before that takes place before the panic scenario goes full force. 

The VIX may be revealing a Leading Diagonal, which is a wave [i] of a new impulse going higher.  It is uncertain whether the retracement of the Leading Diagonal is complete or not, but the move in SPX to 1413.99 should be accompanied by a sudden surge in the VIX.

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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