“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” – Benjamin Graham

More of the same, so very little to add from what we discussed and reviewed in yesterday’s Blinders On post.

We posted some IBEX charts on Twitter and whilst it’s very hard to see why anyone would want to step in front of this before the weekend or before we get a little bit more clarity, we suspect that, as usual, the market may be overreacting and our opening Graham quote applies here too.

Chart and focus of the day:

N.B. don’t forget to keep and eye on Crude and Gold too…

As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.