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Stock Market Trend Forecast March to September 2019

Stock Market Master Cycle May have Bottomed Yesterday

Stock-Markets / Stock Markets 2016 Sep 02, 2016 - 08:18 PM GMT

By: Anthony_Cherniawski

Stock-Markets

I cannot help but conclude that the SPPX made a very shallow Master Cycle low yesterday. Today’s move gives it away, by rallying to the trendline, taking out Monday’s high, but not the trendline.

The shallow decline only went down to match the July 14 gap up above the trendline at 2157.88, spending 34 market days above that level.


The Elliot Wave structure counts as a Leading Diagonal, made up of a set pf 3 a-b-c overlapping declines. The Master Cycle low yesterday was day 262, 4.3 days above the average 258 days.

It also clears the way for a very powerful Wave (3) that may achieve the Target set out by the Orthodox Broadening Top.

The main issue is that the SPX doesn’t rally above its August 15 high at 2193.81. The Cycle Top resistance at 2192.63 gives some indication that it may not.

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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