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Markets briefly paused last week, but still ended very strongly on Friday. This has been one of the strongest Red Periods we have seen in a long time, with the Nasdaq adding 139 points. So, clearly the path of least resistance is up for the moment. You may remember what we wrote back in August…
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Stocks have kept up surprisingly well last week, but still there is no decisive break above the recent resistance levels we have mentioned. I think this market will need to catch some breath before it can move much higher, and quite likely we will see that pause coming up this week. As long as the…
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This is an update on the chart we first posted in our Outlook July 26 Markets have gone on to play around trend lines that converge into late September-early October. Here is the current version for Nasdaq (click for larger image): Notice how the current rally that started in late August is climbing up a…
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We did get some additonal gains, as forecast last week, and closed out the Green Period with a 89 point gain for the Nasdaq. Not bad. Going forward we are moving into Red Period now, which means more caution is needed here. I guess we could still see the market head into the overhead resistance…
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Stocks rose sharply last week and with another week of Green Period to go, we can look forward to additional gains this week. The chart situation is worthy of a closer look (S&P 500 Index, click for larger image): The market found support near the 1040 level at the end of the previous Red Period.…
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More downside pressure was evident in the stock market last week, but a nice rebound already started in the final hours of trading on Friday. The July lows were not broken to the downside, so we have to consider that we may be in an ongoing up trend for the moment. With a Green Period…
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Stocks traded largely flat last week. With another week of Red Period coming up we may still get a retest of the early July lows. But as days pass by we will have to start positioning ourselves for the next Green Period. It appears to me the July lows will hold, and we will be…
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Stock markets turned down quite sharply, as we had indicated last week. The uptrend was broken on the day of Lunar distance extreme (perigee) The S&P500 index has dropped to 1080 already. This means we have seen a very weak Green Period (down 62 points on the Nasdaq) come on the heels of a flat…
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Markets advanced last week, but the move seems to be staling around 2300 on the Nasdaq, 1130 on the S&P500. With a few Green Period days left this week we could try the upside again. But I would use any up day to take profits on long positions and get ready for the next Red…
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Some readers have been writing me, asking why the market is not going down with the current ‘cardinal climax’, a number of oppositions and squares between several planets in the sky. Here is a recent interview with our colleague Arch Crawford, where you can read more on that topic. While we do not use aspects…
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LunaticTrader Blog 