Author: Dan

As we suggested last week, the markets are retesting their recent bottoms. With a few more lunar Red Period days to go, we may be looking at a good buying opportunity here. Let’s have a look at the current chart for the Nasdaq Index (click for larger image): The Nasdaq has abandoned its steep uptrend… Continue reading Looking for a bottom

Sorry for the delay. Couldn’t reach my computer and my charts last week. Meanwhile the markets have dropped to our lower support levels and now trying to rebound. Let’s have a look at the current chart for the S&P 500 index (click for larger image): A bottom has been made just below 1300, and we… Continue reading What next

The Nasdaq has reached our 2900 downside target last week. Many stock indices have reached 3 month lows on the charts, and we are reaching important support levels. Here is the Nasdaq chart (click for larger image): The Nasdaq has come very close to the bottom of its uptrend channel since last summer. A dip… Continue reading Ready for rebound

Some interesting moves last week. As we have been telling for weeks, the market is ready for some sideways action after the recent rally. Let’s have a look at the current chart for S&P 500 (click for larger image): The steepest trend channel is being abandoned, which means the downside is opening up and we… Continue reading Working its way

Our lunar Red period has started, but the market is holding up pretty well so far. This suggests the market is trying for a double top with the March highs. We could very well get there later in May, but I think we will see some more hesitation before the Nasdaq gets back above 3100.… Continue reading Holding up well