Ian Woodward's Investing BlogBeware the Black Cross Cometh!
The message given today’s debaucle is simple: Beware the Black Cross Cometh!
With a Phoenix today, the rally is in big jeapordy, unless it is nothing more than game playing by the Big Boys. Understand I suggested in my last blog that you watch out for Step #3 …the dreaded Head and Shoulders Top!
The Bulls must step up to the plate tomorrow, otherwise watch out below. If the 50-dma comes down heavily through the 200-dma on the NYSE, we have a Black Cross, or some call it the Death Cross. Take your pick. The other Indexes are not quite there yet, but it could set the mood.
Best Regards, Ian.
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