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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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The Nasdaq has come down from its recent peak. As we said four weeks ago, the market is likely to become range bound between 3100 and 2900 for a while. That scenario appears to be on track. Let’s have a look at the current chart (click for larger image): We remain in lunar Green Period…
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Markets have declined a bit, but nothing spectacular so far. Our lunar Red period is about to end, so we may be setting up for another push higher over the next couple of weeks. Let’s have a look at the current chart for S&P500 (click for larger image): Here we see the same long term…
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Markets came down a bit after a very strong close on Monday. Could this be the start of an overdue correction? We have another week of lunar Red period to go, so we will find out soon. Today we will have a look at a longer term chart for the Nasdaq (click for larger image):…
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The markets remain in a one way street and continue to display strength. Our lunar Green Period will be ending today, so I am looking for market weakness in the next couple of weeks. Let’s have a look at the current S&P 500 chart (click for larger image): The market is testing the upper boundary…
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We got another upswing, and the S&P 500 index has reached the 1400 level. Now what next? Longer term I think the market will go higher, but for the near term I am becoming less optimistic now. Let’s have a look at a somewhat longer term chart for the Nasdaq index (click for larger image):…
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The market briefly dipped down last week, but as we already suggested in our comments, buyers came in very quickly to buy the dip. Overall the lunar Red Period that just ended has produced a slight upside, which implies that the upside momentum remains intact for the moment. While we still could get another dip…
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Markets remain stuck near major psychological levels, but so far we do not see much downside action. With another week of lunar Red Period to go, I am still looking for a dip this week. Let’s have a look at the Nasdaq chart again (click for larger image): The Nasdaq briefly touched the 3000 level,…
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LunaticTrader Blog 