Tony Cherniawski Blog | Talkmarkets | Page 1
President, CIO at The Practical Investor, LLC
Contributor's Links: The Practical Investor

Anthony M. Cherniawski is a principal of TPI. He has a Bachelor of Communication Arts degree from Michigan State University (1972). His business experience is as follows: 

Tony Cherniawski’s early success in the investment business came from a chance ... more

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Models Suggest Rough Week Ahead For SPX
SPX declined to 2855.94, with a loss of nearly 4.6% on Thursday before a sharp reversal off the low recovered the bulk of the losses. However, it closed beneath Intermediate-term resistance at 2952.40.
SPX Declines To Intermediate-Term Support
SPX declined to bounce from Intermediate-term support at 2947.77 after breaking through round number support at 3000.00. The Cycles Model suggests a rapid decline ahead. Prepare for a potential “limit down.”
SPX Internals Reveal Massive Rotation
SPX​ reversed out of its Thursday morning high without breaking above the July 26 high. Market internals revealed a massive rotation underway but not a lot of new money.
SPX Rally Continues
SPX rallied higher, but the hopes for a new all-time high were dashed this week. Market internals revealed a massive rotation underway but not a lot of new money.
SPX Rally Stopped At Short-Term Resistance
SPX rallied to short-term resistance at 2946.62, but could not surpass it. SPX remains on a provisional sell signal, awaiting a close beneath Intermediate-term support at 2911.25 for confirmation.
SPX On Provisional Sell Signal
SPX fell from double trendlines to close beneath Short-term support/resistance at 2934.33 but above Intermediate-term support at 2918.37.This puts SPX on a provisional sell signal, awaiting a close beneath Intermediate-term support for confirmation.
SPX Trendline Resistance Holds Again
SPX made a new all-time high on Friday at 3027.98. A new sell signal may be had at a decline beneath Short-term support at 2923.92.
New SPX Sell Signal Ahead?
SPX made a new all-time high on Monday at 3017.80. A new sell signal may be had at a decline beneath Short-term support at 2907.10.
SPX Rally Runs Out Of Juice
SPX​ peaked on Tuesday morning at the open, then proceeded to make a Bearish Engulfing Candle that is still standing at the end of the week. The showdown at Broad & Wall is now playing with the Bulls getting sucker punched.
Is It Game Over For Bears?
There is a saying on Broad & Wall that, “Bulls climb the stairs while Bears take the elevator.” There seemed to be a role reversal this week, as the Bulls took the elevator. Is it game over for the Bears or do they make a comeback?
SPX Breaks Long-Term Support
Both SPX and NDX have closed beneath their Long-term supports, suggesting a probable change of trend may be developing. While many investors have begun to recognize this, most have done nothing about it. It’s time for a showdown.
SPX Claws Back A Large Loss
SPX began the week making a new low, but clawed back nearly 61.8% of the losses from the beginning of May. But that may not have been enough, closing beneath weekly Short-term support at 2878.92, leaving it on a sell signal.
SPX Breaks Through Short-Term Support
SPX broke down through Short-term support at 2867.28, but managed to close above it. Friday’s bounce managed to retrace 50% of the decline since the beginning of the week. A sell signal may be generated beneath Short-term support.
SPX Ekes Out Another Positive Week
SPX broke above the 2.5-year trendline originating from the 2016 election in its fourth week. It also breached the September 21, 2018 high on an intraday and closing basis. Strategists consider that point as a breakout to more all-time highs.
SPX Continues Challenging The Trendline
SPX continues testing the 2.5-year trendline originating from the 2016 election for a third week. It has not breached the September 21, 2018 high on an intraday basis. Strategists consider that point as a breakout to more all-time highs.
Rally Continues In SPX
SPX came down from its peak on March 21, then made a 65% retracement of its decline. The rally is over 13 weeks long with the Economic Surprise Index at a 6-year low.
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