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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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After a very volatile week the market is actually not down very much for the week. But once again we could see that staying out in lunar Red Periods is good for the heart. We have a few more Red Period days to come, but I don’t think it will take us to new lows.…
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The relief rally was very short last Monday, it didn’t even last for a day. We warned for a downward acceleration if the S&P dropped below 1285. That’s what we got and we find ourselves below 1200 at the time of this writing. The path of least resistance is now clearly down. Here is our…
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The market was kept in check by political uncertainty last week, but it looks like we will get some kind of relief rally today. The lunar Green Period is about to end, so the rally could be rather short lived: day(s) rather than weeks. Here is the updated chart for the S&P 500 Index (click…
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Markets rose quite nicely last week, giving us a good start for the current lunar Green Period. Here is the updated chart for the Nasdaq Index (click for larger image): Long term uptrend remains intact. Look for the market to try to push above 2900 this week. Failure to do so would send out…
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LunaticTrader Blog 