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Traders Workshop

Stock Market Indexes Are Winding Up for a Fast Ball

Stock-Markets / Stock Market 2017 Jul 08, 2017 - 01:12 PM GMT

By: Anthony_Cherniawski

Stock-Markets

I finally have internet service and can communicate to you. We had a violent storm pass through early this morning. I did not know the extent of the damage until I discovered my broadband service was out and the roads were blocked by downed trees. Fortunately, we are on a high priority electricity grid, so power was back on by sunrise.


For some who have no idea what is happening in the markets, the chart on the left appears to be a benign jumble. In Elliott Wave terms, this is a coiled spring, ready to release a bundle of energy.

ZeroHedge comments, “Quant trading strategies extended their notable losses this week with CTAs suffering their worst 2-week drop since June 2003...

These drawdowns are marginally worse than the 2007 Quant crisis drops.

And Risk-Parity, plunging...”

Once beneath the 50-day and the Head & shoulders neckline, SPX may let loose to the downside.

NDX bounced from the Cycle Bottom to complete an irregular correction, where Wave (b) is the longest wave. Literally, anything may happen on Monday.

VIX crossed beneath the 50-day Moving Average, but remains on an aggressive buy (SPX sell) nonetheless. VIX also has a wind-up to four degrees of trend, which propose a powerful take-off next week.

TNX extended in a 9-wave Wave (v) of [c] of 2. Remember, Wave 2s may travel all the way back to the beginning of Wave 1 (at 24.23). Again, this foretells a doubly dramatic fall, since the rally was also dramatic and Wave 3 must be a multiple of Wave 1.

Regards,

Tony

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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.

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