Best Financial Markets Analysis Article VIX has been testing its prior highs, but has not yet broken out. The prior two weeks of consolidation have coiled up the VIX for a powerful upward move, which may be as early as tomorrow. My Cycles model suggests that VIX may have the most strength between now and Friday, since that is due to be a Primary Cycle high.

SPY gapped through its Crash Trigger this morning and has gone back for a retest. It appears that there may be an air pocket under SPY for the next 4 days, possibly through Wednesday, May 2. This should be the heart of the decline. Seat belts on?

GLD gapped down the morning, then filled part of the gap. It also appears ready to make some new lows. This Friday, April 27 has a Trading Cycle low scheduled. I suggest that the target may be somewhere below the massive neckline at 150.00. How much lower is yet to be determined. The lesser target would be a given.

TLT may be testing the neckline of an inverted Head & Shoulders pattern. If so, the proposed target of 126.19 may also be the target for a third wave of (c). Just doing some simple math tells us that TLT could very easily reach 135.00 or higher, at this pace. I’ll continue to track TLT to see how close we get to the possible 147.00 top that I had calculated some time ago.

I hope you are in your places now for the next leg of the decline.

Good luck and good trading!

Regards,

Tony

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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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Comments

David Cunningham
26 Apr 12, 15:59

crash call

This market was already to roll over until you had to call for a crash. Have you noticed the trend.

Cal
27 Apr 12, 12:42

Re Crash

Yep, the bear count looks killed. Looks more like W4 has completed and we are now in the first leg of W5. The EW count you have is just not there.

As Nadeem keeps saying though EW = flick of a coin.

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