Ian Woodward's Investing Blog

Highland Fling or Snakes & Ladders Market?

As I write this on Thursday Morning, the Rally suggests we are into a Highland Fling for now!  We had a great Seminar which offered these two alternatives:

Highland Picture

The Market Indexes had all produced a “V” Bottom and were either headed down for a retest of the lows or continue up.  This morning’s strong Rally suggests we go higher before we pause to refresh:

Highland Indexes

The Canaries are half strong and half sluggish, but holding at their support levels and higher:

Highland Canaries

The BRIGHT spark in all of this to and fro is that we had an Eureka on Tuesday and as you can see from the chart below we also had an  ~Kahuna, with it only being off by 0.016 of a point…Close Enough for Government Work!  At the seminar I hammered on the need for an Eureka and two Kahunas within a week, and it seems as if our wish is coming true for a Rally to take off:

Highland Nasdaq

This next chart shows the tremendous sell off we had on 10/1/2014, and the following charts show the slow recovery until yesterday:

Highland Pies 90

Here is the struggle to recover the following nine days:

Highland Pies struggle

…And here is the Rally attempt two days ago after more struggle:

Highland Pies struggle2

This next chart shows the Utter Turmoil the Market Indexes have been through with the Bears in Control until today:

Highland Turmoil

This chart shows we should be into “Safe Territory” with %B by tonight:

Highland Pat

Here is a chart of the S&P 1500  showing more turmoil in %B below the Bandwidth:

Highland Turmoil2

Twelve Drummers Drumming continues to show it is a good short term measure of Rallies and Fades, and also Turmoil:

Highland Drummers

Finally, the S&P 1500 must hold at 440 and above or we head down again:

Highland 1500

Best Regards,


Copyright © 2007-2010 Ian Woodward
Disclaimer: Commentaries on this Blog are not to be construed as recommendations to buy or sell the market and/or specific securites. The consumer of the information is responsible for their own investment decisions.