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The market has been going sideways with some upward bias last week. In line with our expectations. Let’s take a look at the current chart for the S&P index (click for larger image): The S&P index closed the week at its highest level since early August. With another week of lunar Green Period coming up
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Stock markets have been in melt-up mode since they touched our downside targets a few weeks ago. As a result the recent lunar Red Period finished with a 187 point gain for the Nasdaq. This is very unusual and we will now have to look whether the market can build on those gains. Our lunar
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Our downside targets were reached this week (2300 on Nasdaq, and below 1100 on S&P), and it triggered strong buying that sent the markets back up. We remain in a high volatility environment. Remember, back in May, when we wrote this about the news of Bin Laden’s death: “…unexpected good news that comes after a
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Another very volatile week. The market tried to go up, as we expected, but failed and fell back rather fast. As a result the recent lunar Green Period recorded a 127 loss on the Nasdaq. This is the worst Green Period since we started this blog. It means the market continues to act very weak,
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A dramatic drop reversed all of the recent gains in most stock indices. This means our sign of strength is negated and we have to watch out below. There is no reason for panic however, since we are still holding support provided by the August lows. Here is the current chart for the S&P index
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Stock rose strongly all week, a dramatic turnaround from last week’s losses. As a result the recent lunar Red Period ended with a 28 point gain on the Nasdaq, and this is the strongest Red Period we have seen since early February, when the market was still in bullish mode. While this doesn’t guarantee that
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Downside pressure in the market has continued, but we remain well above the recent lows. As long as we hold above the August lows things look OK and a good base is being built from which a next advance could start. Here is the updated chart for the S&P 500 (click for larger image): Lunar
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Markets peaked almost exactly with the end of lunar Green Period, and are now dropping down again. As we have been telling for weeks, don’t be too quick to get back in because a retest of the recent lows is quite likely. Let’s take a look at the current chart for the Nasdaq Index (click
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Markets recovered last week and we are now close to breakeven for the current lunar Green Period. With a couple more Green Period days coming up I think the S&P will get above 1200 again, but what comes next remains to be seen. Here is the updated S&P 500 chart (click for larger image): Market
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The start of lunar Green Period has not instilled new confidence in the market, and we are back to testing the recent lows. Let’s see if things improve this week. Here is the current Nasdaq chart (click for larger image): I think we will see another rally attempt in the remainder of the current Green
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LunaticTrader Blog 