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The Nasdaq did climb back to 2750, as we indicated last week, then fell steeply on Friday. We have been warning for an imminent downturn, as indicated on the charts. This could well be the start of a multi-month slide. We have come a long way since last August, but we need to remember that
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We finally got some downturn in the stock market. The Nasdaq has lost 14 points in the most recent Red Period. We remain at a critical juncture in many charts. It looks like last week’s break out to the upside is failing, and we are now sitting on important support as you can see in
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So far the market is not bothering about being in Red Period. The Nasdaq has kept going up last week, and is now breaking out above the trendline we have been mentioning for a while. Here is a somewhat longer term Nasdaq chart showing it clearly (click for full size image): So what do we
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The most recent Green Period produced a 38 point gain on the Nasdaq. 16 of the last 18 Green Periods have now been profitable. Check out our performance page for a complete overview. The market remains at a very interesting juncture. The Nasdaq tested the 2700 level, as we expected, but that level was not
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Happy New Year. We got a flat week in most markets, as we have indicated in our last Outlook. We are now getting another week of Green Period, so look for markets to start the year on a positive note. But this chart is telling us that we better use any new highs to take
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Markets held very steady last week. No noticeable downturn was recorded in the previous Red Period, which suggests that the path of least resistance remains UP. I know it gets boring to repeat that over and over, but the stock market can be quite boring over long stretches until it takes everyone by surprise with
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Looks like we are going through a flat Red Period. Stock are clearly hesitating near the resistance levels we posted in previous weeks, but the market refuses to go down. We could see some further weakness this week, as we remain in a Red Period, but I would use any down days to lighten up
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The recently finished Green Period recorded a 66 point gain on the Nasdaq index. Over the last 18 months only 2 Green Periods have not been profitable. See our performance page for a more detailed record. Meanwhile our cycles seem to remain nicely on track. As we said a few weeks ago: clear sailing till
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Stock markets are going back up testing their recent highs, just as we indicated last week. Some markets have gone into new 52 week highs already. We have a few more Green periods days to come, so this week will probably be OK. But from next week onwards I expect some more muddled waters, when
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Our most recent Red Period recorded a 20 point loss on the Nasdaq. The last day of the Period saw a 50 point rise on the Nasdaq, so there was potentially a much bigger profit for shorts in this Red Period. But for the purpose of our performance record I always use closing prices. If
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LunaticTrader Blog 