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5 "Tells" that the Stock Markets Are About to Reverse

Stock Market Major 5-year Trendline Crossed

Stock-Markets / Stock Markets 2016 Jan 07, 2016 - 06:08 PM GMT

By: Anthony_Cherniawski

Stock-Markets

It appears that SPX has violated its (nearly) 5-year trendline that appears to be in the mid 1950’s.

I normally would not be watching this since the more technically correct trendline was violated in August. However, there are multiple analysts who have been using this as a “line in the sand.”


It is now broken and may lead to a panic phase starting as early as today, but no later than Monday, as the word gets out.

SPX has helped me to identify the trendline crossing by bouncing off the line in the opening decline at 1954.47. It bounced, then dropped through to 1941.27 before retesting it at 1953.70. I have drawn it where it appears to be located in the hourly chart to show how it may have been positioned in today’s action. Minute Wave [iii] may have been completed at 1938.83. We should see a bounce at the close that may retest the trendline before resuming the decline to the larger Head & Shoulders neckline tomorrow, approximately another 80 points beneath the trendline.

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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