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Market Oracle FREE Newsletter

Urgent Stock Market Message

SPX Confirmed Sell Signal

Stock-Markets / Stock Market 2017 Aug 10, 2017 - 09:28 AM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX is trying to make another test of the Short-term resistance at 2474.94. From there it should go down hard. Be Time to add shorts. Normally I wouldn’t recommend going 100% short until a trendline is crossed. But there’s enough confidence in the signals to go at least 50%.


VIX may also retest the 50-day Moving Average before going higher. The real clear signal is the Head & Shoulders neckline which has been tested twice. The third try may be the charm. VIX is still on an aggressive buy signal, but very close to a confirmed status.

The NYSE Hi-Lo Index is at a 1 month low and appears capable of breaking its lower trendline for a confirmed sell signal.

In summary, adding short positions may be a low risk option here. You may have trouble beating the crowd when the signals are confirmed.

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.

Anthony M. Cherniawski Archive

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