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Stock Market Trendlines Violated, Sell Signal Imminent

Stock-Markets / Stock Markets 2014 Sep 09, 2014 - 05:53 PM GMT

By: Anthony_Cherniawski

Stock-Markets

SPX has broken below its Broadening Wedge trendline for the second time today. Perhaps this is the charm. There is now enough information to label the Wave Structure as a Micro Wave I and ii. It is apparent that round number resistance held the bounce at 2000.00.


It appears that a break of the 1990.10 low is imminent. This is a good place to add short positions. The next support appears to be the 50-day Moving Average at 1970.71. It appears that the Minute wave [i] target may be the August 7 low at 1904.78.

VIX appears ready to break out after challenging the 50-day Moving Average at 12.80 earlier today. This is our Equities Sell Signal, especially confirmed above 1340 (Cycle Top) and 13.41 the Minute Wave [i] high.

Good luck and good trading!

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

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