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Trading Lessons

SPX Wave Structure Solved. VIX is Positive

Forecasts / Stock Market 2017 Feb 16, 2017 - 02:52 AM GMT

By: Anthony_Cherniawski

Forecasts

My earlier estimates of the SPX targets were based on Wave [c] being impulsive, not in a zigzag Diagonal format. Had I stepped back earlier, it may have been more evident. In any event, the natural target for Wave [c] appears to be 2354.36, which is no far from the earlier 2350.00 limit I had put on it.


In any event, there is not enough evidence of a turn yet, although it could happen overnight. Or at the open tomorrow.

VIX challenged its 50-day Moving Average at 12.00 today, but closed just under it. By itself, this does not constitute a sell signal, but this is the most heartening thing I have seen in a long time.

The Hi-Lo index is still above supports, so there is no signal there, yet. It may change overnight.

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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