Stock Market Rally is AbatingStock-Markets / Stock Markets 2016 Mar 11, 2016 - 06:04 PM GMT
SPX has stopped rallying after a little more than 19.5 days from its February 11 low. Not much more can be said until it breaks the uptrend line at 1975.00. Most rallies of this nature usually take less time than this, so we can say that it is unusually long.
VIX is off the lows. Chances are good that this is the final low, but no confirmation is given until it surpasses the 18.93 line again.
TNX remains glued to its high, since this is likely the main catalyst for the rally. Failures to deliver are at multi-year highs, suggesting those shorting Treasuries are hanging on to their shorts, regardless of the additional fees for their FTD. They have bigger fish to fry.
In any case, the rally appears over. We just need to see the reversal.
The reason I say that is because the USD has been declining the past couple of days, so it has not been a net positive for stocks.
USD/JPY has had a weak retracement, but not proportional to the SPX rally.
This has been an unusual week, to say the least.
Our Investment Advisor Registration is on the Web
We are in the process of updating our website at www.thepracticalinvestor.com to have more information on our services. Log on and click on Advisor Registration to get more details.
If you are a client or wish to become one, please make an appointment to discuss our investment strategies by calling Connie or Tony at (517) 699-1554, ext 10 or 11. Or e-mail us at firstname.lastname@example.org .
Anthony M. Cherniawski, President and CIO http://www.thepracticalinvestor.com
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
© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.