The canary in the coal mine.

Once again eyes and ears strain to process the news from the Middle East. A possible canary in the coal mine with respect to Mideast tension is the Tel Aviv 100.

Note that hostilities in the 2006 Israel-Lebanon Conflict/War started on July 12 and ceased on August 14. Did the May/June 2006 global equity downturn reflect smart money's fears of a hot summer? Presumably, if anyone can smell a foreboding tinge of conflict in the air it will be Israeli smart money.