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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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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…
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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…
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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…
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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.…
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LunaticTrader Blog 