According to my risk sum system, the days with the highest risk of a turn or acceleration of the current trend next week are Monday the 2nd and Wednesday the 4th. Given the DJIA tepid turn up Friday morning, a turn based on my system on Monday would be down and an acceleration of the current short term trend would be a very sharp rally.
Last week's Monday the 24th risk window caught the sharp down acceleration kick off. The Wednesday the 26th risk window which I did note was a weak signal caught a reversal which only lasted a few hours then failed as it was overwhelmed by the selling, so it must be considered a dud. The Pound finally started to break down, but all the FED interest rate cutting talk at the end of the week whacked the dollar, cutting back the relative losses in the Pound.
The big question this weekend is whether the FED pumpers can wait until March 18th to steal yet more money from the old age pensioners and savers to prop up Wall Street. Given their history of throwing grandma and grandpa head first off the train anytime it slowed just to lighten the load, it's probably not a matter of if, but when. Oh, and if anyone on the tube says cutting rates is just fine because there is no inflation, I just renewed my home insurance which went up 8% over last year and my gas/electricity which went up 11%.
Regards,
Douglas
