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Stock Market Trend Forecast March to September 2019

Stock Market Cycle Top Final Stretch

Stock-Markets / Stock Markets 2016 Apr 14, 2016 - 04:49 PM GMT

By: Anthony_Cherniawski

Stock-Markets

The Cycle Top is holding support for SPX at 2079.26 thus far. It appears to have completed all but the last probe higher to complete the pattern. The target range appears to be 2085.88 to 2086.99. It may happen yet this morning or early afternoon, so stay alert. The first sign of a reversal comes when the Cycle Top no longer provides its support.


The next layers of support appear at the 4.5-year support at 2062.00, while the short-term trendline lies at 2053.00. Each lower support may add confidence to the reversal. Remember, the short-term trendline may bring a bounce, so that may provide additional positioning for a short entry.

VIX has already formed a “base” at 13.00, so I am assuming that level may not be violated. VIX has formed a potential inverted Head & Shoulders pattern suggesting a move to 20.54. Crossing the neckline would give us a confirmed buy signal.

The NYSE Hi-Lo Index has turned back down. It needs a decline beneath the 50-day Moving Average at 21.46 for its sell signal.

TNX is still short of its target at 18.27. The Wave pattern allows a final probe to that level as SPX rallies to its high. A dip below yesterday’s close at 17.62 indicates that the rally is over.

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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