22 Sept 2014

Art Cashin released an observation he had during his career in the Stock Market.  I felt it was a good read and at the same time unbelievable.  It goes in line with what we see in our current market as well.  For those who think that this is just Horse$.. Pay no attention to it.

Markets continued its down trend for the 2nd day.  Our ST has also turned south with an EW pattern looking like a 5 wave decline.  Last Friday I mentioned we have hit our ideal target and was only off by a few decimal points.  If this is so we should start seeing a decline in an impulsive manner with an acceleration to the downside.  How far it will go is still to be determined.  The possibilities of a draw down can reach as far as 1725.  This of course is the worst case scenario, unless we really crash hard which some cycle analysts are forecasting.  We should always be prepared for anything UP or DOWN.

MT: DOWN
ST: DOWN
PA: DOWN