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A few weeks ago, when we last covered the S&P 500, I warned that the market was likely to give us a few good down days in the last week of May, with a target of 1600-1625, and then another rally. See: When everybody expects the same thing… We got the down days and the
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The recent advances in the stock market have led to an explosion in articles contending that we are in a new stock market bubble or mania. Some analysts are seeing a parabolic peak already. Almost everyone seems to agree that some market decline should come any day now. The number of references to “bubble” on
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Just back from Greece, so only a quick note today. I will post some extra updates later this week. We got some swift move downwards last week, especially in the Nikkei index. But our lunar red period is now ending, which opens the door for another rally. This is the current chart for the Nasdaq
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…, then something else has to happen. Many investors were waiting for an overdue correction in May. Media outlets were reminding us to “Sell in May..”, since that had worked so well in each of the past three years. And what did we get? A melt-up. And now that bears have thrown in the towel,
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Markets have added to gains, and it is now clear that we enjoyed a very strong eclipse green period. We will be entering a new lunar red period this week, so this could be an important juncture. Here is the current chart of the Nasdaq composite index (click for larger image): The breakout to the
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Markets continued to march higher last week, and we now have clear breakouts to the upside in place. Such a strong performance is not unusual in eclipse green periods, as we explained a few weeks ago. We have another week of green period to go, so further gains are in the cards, but I think
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Markets recovered surprisingly well last week, but despite this recovery the lunar red period ended with a slight loss on the Nasdaq. We now enter a new green period, what’s in store? Here is the Nasdaq chart (click for larger image): This looks like a potential double top. We cannot rule out a further rise
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In a recent article posted by NASA, the possibility that we may be entering a Maunder minimum type period of global cooling was openly discussed. The current very weak solar cycle 24 is supporting that hypothesis. This prompted me to take a closer look how long term solar activity has influenced commodity prices in the
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The market correction has come right on the mark with the eclipse Red period we discussed last week. It also confirms that our LT Wave remains on track. We have another week of Red period to go. Can we expect more downside already? Here is the current chart for the S&P 500 (click for larger
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This is an update to the long term outlook we presented in February. We pointed out that the 3200-3300 level on the Nasdaq was going to be a tough resistance zone. And indeed, the market has now spent several months trying to overcome that level, and failing so far, with the Nasdaq currently sitting at
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LunaticTrader Blog 