Markets have continued to grind higher and are once again bumping into overhead resistance levels. Can they break out to the upside? We cannot rule it out as we are getting into a new lunar green period. But let’s first take a look at the Nasdaq chart (click for larger image): The Nasdaq made new… Continue reading Overextended
Category: Financial Astrology
Refusal to go down
Not a strong start for stocks this year, but so far the downside action is limited and the markets are going mostly sideways. This refusal to go down can be seen as a sign of strength. Or is it the proverbial silence before a storm? Let’s have a look at the S&P 500 (click for… Continue reading Refusal to go down
Disappointing start
Stock markets have started the new year by going down. We already warned last week that the start of 2014 was likely to be disappointing and that appears to be panning out. We are now entering a lunar red period, so I think the weakness in stocks is going to continue a while longer. Here… Continue reading Disappointing start
Ending the year at a high
It looks like we are ending the year very close to the high targets we pointed out in late November. 4200 for the Nasdaq, 1850 for the S&P 500, and 16500 for the Dow Industrials are important top targets based on some of my methods and also happen to be the level of overhead resistance… Continue reading Ending the year at a high
Dip not done
Markets turned down as expected. So far it has been a fairly mild downturn, but that doesn’t mean it is over already. Let’s have a look at the S&P 500 (click for larger image): The long term uptrend is intact, but none of my indcators is showing any signs of a bottom at this point.… Continue reading Dip not done
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