Ian Woodward's Investing BlogMarch 3…Black Fawn; March 4…Snakes and Ladders!
Whether you are a Bull or a Bear, it’s a difficult Stock Market to wallow in to say the least. On March 3, 2011 we had a Black Fawn Event (thanks to my good friend Stephen) that came from out of the blue…the Reverse of a Black Swan:
…And the very Next Day we were back to playing Snakes and Ladders, so the Topping Action continues:
Note that the Twelve Drummers Drumming did their thing on days 9 and again 14, so at least you were forewarned:
Note that the %B of the Indexes and the %B above 0.5 are in the low 50’s implying stalemate as equilibrium is at 55:45:
…and to give you a longer view of Stalemate, here are the snapshots for the NDX, OEX and S&P 1500:
However, there is one slight ray of sunshine…if you are an Optimist, and that is the picture of the Leaders:
But then again, the McLellan Summation Index is stuck in the mud, thanks to my good friend Mike Scott:
If you lean towards bullish, then the High Jump is easy…the Nasdaq must first get past 2841 and then reach for 2862:
But we must be ready for a knee jerk, in which case I have conjured up one for us with the VIX, ATR and High Jump:
Now you have a Game Plan for Next Week. See you in three weeks at the HGS Investor Seminar from March 26-28.
Best Regards, Ian
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