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Except for one big down day last Tuesday, again we didn’t get any real downside action in the current Red Period. This means the path of least resistance is still up. Every little dip in the market is bought almost immediately. Where will it end? Here is our longer term chart of the S&P 500…
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Markets continue to steam ahead, and some stock indexes have already exceeded their April highs. In a runaway market like this the lunar cycle patterns we use for our analysis have little or no room to work themselves out. But don’t worry, things will get back to normal, probably sooner rather than later. Here is…
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Markets behaved as expected, trying to push higher but bumping into overhead resistance levels (11000 on Dow Jones Industrials, 2400 on the Nasdaq, 1165 on S&P500). The recent Green Period has added 20 points on the Nasdaq, so we can see that the upward momentum has weakened. Going into a Red Period, the odds now…
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We see how the market tried to continue upwards last week, but the move is bumping against the indicated resistance levels. The S&P 500 briefly rose to 1157 on Thursday, only to sell off almost 2% immediately. Going forward we remain in Green Period this week, pointing to an upward bias, but the question is:…
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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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