Ian Woodward's Investing Blog

Stock Market: On a Wing and a Prayer

The hour is late and this will be a short and sweet update:

All the Major Market Indexes except the DJIA took a small hit today with the Nasdaq and NDX hit the worst:

And here are the Canaries with AAPL and PCLN teeter-tottering:

The 59% of S&P 1500 stocks below the Lower BB (<0) took the stuffing out of the Market:

…And here is the evidence that shows the Market Indexes are struggling.  The Market has been in a Correction for the past seven days:

The Bottom line is that either there is a Major upward surprise thrust or we continue to drible on down to the next level of support which is certainly “Custer’s Last Stand” at 2900 for the Nasdaq.

Best Regards,

Ian

2 Responses to “Stock Market: On a Wing and a Prayer”

  1. Paul R Says:

    Ian,

    As usual a great blog and right to the point.

    Can you explain the color criteria used in the %>.5 column on chart http://ianblog.highgrowthstock.com/wp-content/uploads/2012/04/Wing-Pat.png?

    Paul R

  2. ian Says:

    Hi Paul,

    A very good friend whom you may know from the Seminars came up with that brilliant idea not only of color coding but also of using standard deviations of the Bucket readings from the average. She decided to use Dark Pink at either extreme in buckets <0 and >1.0. Otherwise there are gradations in color from Dark Red or Dark Green for those readings that are 3 std dev down to 1 std dev, so that our eyes get the effect of INTENSITY of the movement…it’s nothing short of brilliant.

    Ian.

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