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Stock Market Deflationary Vortex Taking Hold

Stock-Markets / Stock Markets 2014 Nov 04, 2014 - 03:06 PM GMT

By: Anthony_Cherniawski

Stock-Markets

The major stories this morning are all about the price of oil. WTI futures fell overnight to a low of 75.91. The Cycles Model suggests a near-term low near November 11-13. That provides ample time for the Head & Shoulders to be met or exceeded. That should be a wrap for Wave 3 of (3).

Deflationary tendencies have been strengthening since mid-Summer. July 3 has been the peak for many of the most sensitive indexes. This is creating a vortex that may draw in all asset classes as it gets stronger.


ZeroHedge reports, “Overnight saw the weakness in the crude complex continue withWTI dumping to its lowest since October 2011 at $75.84. Treasury yields tracked crude lower and 30Y yields are now down 4bps on the week (having been up 5bps at their peak yesterday before Saudi Arabia's pricing decision). Stocks are sliding in the pre-market but have room to fall to catch down to oil/bonds implied weakness. Gold, silver, and copper are also lower even as the dollar slides lower.

Stocks catching down to Bonds/Oil weakness.”

SPX is still within its up-sloping channel. The Premarket is lower, but not threatening the bottom trendline at 2000.00 yet.

The DAX and FTSE both had overnight ramps, but are now drifting back to nil gains. However, the weaker indices are being hit pretty hard, dragging the STOXX down beneath its Broadening Wedge trendline.

More reports later as the market opens.

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

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