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Why 95% of Traders Fail

Stock Market Rally is Over. Hope You're Short or in Cash

Stock-Markets / Stock Markets 2016 Jan 27, 2016 - 08:13 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Today’s action made me glad that I had gone short on Friday. Today’s move was virtually untradeable, since if you had waited for the Wave (v) of [c], you would have done worse than going short last Friday.

The Wave (v) of [c] was truncated, leaving what appears to be a double zigzag Wave 2. Both the truncation and double zigzag in a Wave 2 are rare. The total time elapsed for the retracement was just shy of 37 hours [2(4.3 squared)] and would have been so, had Wave (v) gone above Wave (iii).


February 10 is still my Cycle bottom date, but we must watch the pattern as the decline unfolds. There are three Primary cycle Pivots during that week, with the latest on Friday, February 12.

VIX took a wild swing as traders laid in their bets in the SPX options market. The ETFs were more sedate, but positive during this episode.

TNX lost all of its positive enthusiasm to come very close to break even for the day.

What a day it was!

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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