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How To Buy Gold For $3 An Ounce

Stock Market SPX Approaching its Sell Signal

Stock-Markets / Stock Markets 2015 Dec 03, 2015 - 06:33 AM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX bounced from its Short-term support at 2076.36, making a low of 2077.51. Chances are good that it may slip through Short-term support and the 2-hour mid-Cycle support at 2073.90. However, there is a likely bounce due at the 200-day Moving Average at 2065.10, where it appears to complete Minute Wave [i]. This decline has a long way to go in only a week’s time or so.


VIX broke above its 2-hour mid-Cycle resistance and trendline at 15.86 and challenged its daily mid-Cycle resistance at 16.41. It is on an aggressive buy (SPX sell) signal which may be confirmed should it close above 16.41.

The NYSE Hi-Lo Index has been steadily progressing toward its confirmed sell signal al -45.00. Be prepared for a sell signal either by the close or at tomorrow’s open.

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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