Ian Woodward's Investing BlogThe Stock Market Indexes are back to a “Rounded Top”
This Market is very similar to that we had back at the Start of the Year in early January…a Rounded Top:
…And here is the picture to prove it:
The Canaries are pausing to Refresh, but are holding up nicely with AAPL, FB, GOOGL and PCLN leading the way:
The Drummers Drumming Chart shows that we are 6 Days into a down move, and we should expect the Markets to continue down:
…And this chart shows that the odds are still to the downside for %B to come down through the Bandwidth before going up again:
The Market took a Major Hit on Friday with the S&P 1500 down 3.7 buckets and should still head down early next week:
If you didn’t feel the bias for the Markets is downwards, then hopefully this chart will convince you:
Now for the Jobs Report for February which is still showing improvement at around the 300,000 mark:
Keep your powder dry and have a good week.
Best Regards,
Ian.
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