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Stock Market Sell Signals Abound

Stock-Markets / Stock Markets 2013 Dec 03, 2013 - 03:30 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Good Morning!

The NYSE Hi-Lo index went negative this morning and exceeded its two prior lows. This confirms the sell signal in SPX.


The VIX also confirmed its buy signal and inversely, confirmed the SPX sell signal as well. We may see an extended, super-sized minute Wave [iii] that could push it to its Cycle Top at 18.11 and send it on its way back to its inverted Head & Shoulders neckline at 24.00. The small Head & Shoulders pattern that was triggered yesterday (not shown) has a minimum target of 15.89.

SPX is back-testing its Broadening Wedge trendline. We could see further a bounce back to the Head & Shoulders neckline at 1802.76 before resuming its decline. That may be an indication of a more complex and possibly stronger decline.

1802.00 would be an excellent area to max out on the short side.

More to come later.

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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