Ian Woodward's Investing Blog

Stock Market: In “See-Saw Marjorie Daw” Mode

Today the Tom-toms are beating loudly to the downside, so I am writing this at 12.00 noon before the Market closes to give you my perspective on today’s action:

See-Saw Picture

Here’s the snapshot of the Market Indexes which have taken a -1% dip today:

See-Saw Indexes

If the market remains down >-1% at the end of the day, here is what to expect in our favorite Buckets View:

See-Saw Pat

My featured view and perspective in last Week’s Newsletter issued on the 15th January, shows what I expected was in store for us sooner rather than later, and today seems to be the start of nasty things with the shot across the bow.  We should expect at least a -4% down on most Indexes from their highs for starters:

See-Saw Nasdaq

The one saving grace from today’s action is that NFLX delivered an excellent Earnings Report and is hope for the Rally to continue!?

See-Saw Canaries

Stay alert and nimble!  Best Regards,

Ian.

 

3 Responses to “Stock Market: In “See-Saw Marjorie Daw” Mode”

  1. Jay Robinson Says:

    Hi Ian, when you say the market, how do we view this when the Dow is down right at 1%, the S&P is -0.88%, NYSE is -0.96% but the NASDAQ is down .57%?

    Much clearer when everything is down a couple percent, but the NASDAQ has been the leader here and my gut feel is to focus more on that which leaves me right on the brink of taking action but waiting for the next piece of information.

    Thanks for a timely blog and we’ll see you in March for the seminar

    Jay Robinson

  2. ian Says:

    You’re on the ball as usual, Jay. When I took the readings the various Market Indexes were all around -1% down, but as you rightly say, the Nasdaq and NDX snapped back the best and -0.57% is almost a flea bite in these times.

    As you mention, we need a solid -2% down day to confirm that the Big Guy Bulls have given up the ghost. What struck me as alarming was the Tentative 6 Buckets down on the S&P 1500, which is a better surrogate for the performance of the entire “market”.

    It will be good to see your smiling face in March.

    Ian.

  3. Jay Robinson Says:

    Well, this is a little more decisive with NASDAQ taking the lead down close to 2%.

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