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Markets pushed higher on Friday, after some hesitation earlier in the week. With the lunar green period continuing this week we can start looking how high it may go. Here is the Nasdaq chart (click for larger image): Our line in the sand at 3300 was touched and then the market turned up strongly. The…
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Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3255 Down RALLY S: 3406 Up S&P 500 BULL S: 1548 Down RALLY * S: 1612 Up Nikkei BULL S: 12202 Down RALLY S: 13368 Up FTSE 100 BULL * S: 6222 Down RALLY…
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Our LT Wave chart for June did reasonably well. It was a roller coaster month indeed. The weakness in the 3rd week came a few days later than expected, and we did get the expected strength in the final week. Here is the LT Wave for July (click for larger image): The chart shows some…
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Stocks made a nice drop to major support levels, and have rebounded since the start of our lunar green period. We now need to see some follow through this week, otherwise we can probably forget about a summer rally. Let’s have a look at the S&P 500 (click for larger image): The support level around…
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Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3242 Down DECLINE R: 3435 Up S&P 500 BULL S: 1549 Down DECLINE R: 1629 Up Nikkei BULL S: 12184 Down RALLY * S: 13307 Up FTSE 100 BEAR R: 6338 Down DECLINE R:…
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For our most recent coverage on gold see Prospects for gold It is by now clear that scenario 1 is out of the way, so we can revisit scenario 2 and 3, which pointed to possible downside targets of $1080 and $1260. Since gold is now sitting just above $1260, that scenario deserves more attention…
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There is a saying that one should buy “blood in the streets”. But that doesn’t mean one cannot buy too early. We are seeing popular protests in places like Turkey and Brazil, and that has driven down the stocks in most emerging markets. Time to buy? Here is a chart of the EEM emerging markets…
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A reader has asked about the supermoon we had over the weekend. Does it affect stocks in a certain way? A supermoon happens when a full moon occurs near its closest point to the Earth. This makes the full moon appear bigger than normal. We get one about every 14 months, and they are easy…
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Our key reversal levels going into next week: Status Key (W) Mode Key (D) Nasdaq BULL S: 3238 DECLINE R: 3450 S&P 500 BULL S: 1541 DECLINE R: 1640 Nikkei BULL S: 11933 DECLINE R: 13692 FTSE 100 BEAR * R: 6384 DECLINE R: 6506 DAX BEAR * R: 8092 DECLINE R: 8241 Bonds (TLT)…
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I am getting a sell signal for the Euro/US$ (click for larger image): The 1.34 level also happened to be our upside target for the Euro. *** Meanwhile, both the Nasdaq and the S&P 500 have closed above their daily reversal key levels, putting them in rally mode again. Their daily support key levels are…
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LunaticTrader Blog 