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Why 95% of Traders Fail

Stock Market Correction May be Underway...

Stock-Markets / Stock Markets 2016 Jan 12, 2016 - 07:28 AM GMT

By: Anthony_Cherniawski

Stock-Markets

I would be remiss if I didn’t report this observation, so here goes…

It appears that the decline from December 29 may have completed a five-wave impulsive decline in 56 hours (8 days). This matches the time that it took to decline from November 29 to December 14 and is 1.62 times the length of that decline.


It is very likely that this is only Wave [a] of 2. There is a better than 50% probability that Wave [b] may go beneath 1901.10, most likely nearer 1885.00. Wave [c] has a strong likelihood of reaching 1960.00. With these probabilities, it would not be wise to trade more than 50% of your capital.

If you are not a day trader, sit tight. This is only Wave 1.

VIX has also completed a lower degree Wave [i]. VIX has some interesting trading possibilities, since it could decline to its mid-Cycle support at 18.70 or lower. However, that may invalidate the Head & Shoulders pattern, since necklines are not considered very permeable.

This may only be a two-day correction, so any trading must be watched carefully.

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.

Anthony M. Cherniawski Archive

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