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Stocks have held up well in the recent lunar Red Period. Can the market build on this strength? Here is the current chart for the S&P 500 (click for larger image): Stocks ended the week very strong and we see a pattern of higher highs and higher lows, which indicates a rising market. We are
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The markets remain very difficult to read for the moment, and are largely moved by the day to day news. The stocks went up after initial weakness last week, once again giving us mixed signals. Let’s have a look for the current Nasdaq chart (click for larger image): Back in May we already warned for
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Even though we got the rally we expected last week, the market gave back its gain on Friday. So, the recent lunar Green Period ended with a small loss, once again signalling weakness ahead. This means we have to be careful in the lunar Red Period that is getting underway. A quick look at the
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Another up and down week with most indexes ending the week little changed. Our lunar Green Period is about flat so far, but there is another week to go. Here is the current chart for the Nasdaq Composite (click for larger image): The market briefly tested the support around 2850 and then rallied swiftly. It
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The market kept up well last week, and our lunar Red Period recorded a small gain for the Nasdaq Index. This is the strongest lunar Red Period since early February, so a sign of strength that we should not negate. Does this mean the market is ready to run? It’s too early to tell. Let’s
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Some large swings up and down in the markets last week. The increased volatility could suggest that we are setting up for a bigger move up or down… The chart for the Nasdaq Index has not changed much (click for larger image): We will remain in lunar Red Period this week. This makes me wonder
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Markets did climb last week, before stumbling pretty badly on Thursday, but still ending the lunar Green Period with a decent gain. The steep drop on Thursday makes for an ugly picture in the charts of a lot of stocks and indices, and could foreshadow more weakness to come. Let’s have a look at the
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Markets stabilized last week, which is not bad after the drop we saw in early June. But I would prefer to see a bit more upside action, given that we remain in a lunar Green Period. If we do not get any further gains from here, then we are probably setting up for a retest
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The markets are rebounding from major support levels. It doesn’t mean the correction is over, but I would look for the upswing to continue for a while. Here is the current chart for the S&P 500 index (click for larger image): The S&P seems to have bottomed near 1270. We are in a lunar Green
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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
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LunaticTrader Blog 