This Market is totally News Driven, and the uncertain outcome of the Syrian Affair has killed the Bull Rally Attempt:
Why Black Magic? It has me in its spell… and down and down I go, hating the spin that we’re in! The Market Indexes say it all:
Once more the Russell 2000 is about to give up the ghost, and my good friend from Thailand is watching intently with me to see if %B x BW will break 0.000 one more time before the Market Bottoms and takes off again!
Grandma’s Pies have the Bears fully in control, but as you will see later the last gasp is that the Canaries are still holding strong:
Leadership is dwindling by the day, but don’t expect a bottom until the ratio of D+E swamps A+B by about 3:1
…And here is that twin picture which shows we are currently at about 2.5:1 (0.42) in favor of the D+E’s over A+B:
To cap it all the “A’s” are slip sliding away as the “E’s” are gaining in numbers:
Bottom Fishers beware…don’t get tempted when the odds are against you at this stage; there is no oomph from the Bulls yet:
We have just crossed the -4% down from the High Target for Market Indexes except the NASDAQ and NDX. As I am sure you well know by now the next down turn Target is -8% and then we either recover or the floodgates open to the downside.
By now the casual followers are saying “Come on Ian, where is the clue of what will happen next week?” The oldies know me better. I would rather have the Market tell me, but I will give you the One Clue of what to look for at this stage of events…the Canaries:
Here then is my Birthday Gift to you as I chalk up another year this Friday:
Best Regards to all of you and yours, my supporters from around the world.