Markets came under pressure last week, but held up very well. The recent lunar red period produced a 27 points gain in the Nasdaq, which means the market continues to display strength. Another push higher is in the cards with a new lunar green period now underway. Let’s have a look at the S&P 500… Continue reading LT wave chart for August
Category: Market Commentary
Why Dow 16000 will be sold
Investors are wondering why the US stock markets keep going up, no matter which news hits the wire. Every sell-off seems to be bought, and traders who tried to bet against this market are probably getting very frustrated by now. I think this market will not go down before the Dow Jones Industrials has crested… Continue reading Why Dow 16000 will be sold
Key reversal levels for week of July 29, 2013
Our key reversal levels going into next week: Status Key (W) Mom (W) Mode Key (D) Mom (D) Nasdaq BULL S: 3314 Up RALLY S: 3533 Down S&P 500 BULL S: 1571 Up RALLY S: 1662.30 Down Nikkei BULL S: 12533 Up RALLY S: 14043 Down FTSE 100 BULL S: 6267 Up RALLY S: 6487… Continue reading Key reversal levels for week of July 29, 2013
Stops were taken out
A brief follow up on yesterday’s post. The trailing stops for Nasdaq and crude oil were both taken out yesterday, and their daily momentum continues to be down. The daily momentum for S&P 500 index also turned down yesterday, so that means we can now use a trailing stop just below yesterday’s low for that… Continue reading Stops were taken out
Trailing stops when you think a peak is near
As I described in my weekend post covering our key reversal levels, I like to use a trailing stop when daily momentum turns down after a sizable move in the market. When a market has a fully bullish picture ( status = bull , weekly mom = up , mode = rally , daily mom… Continue reading Trailing stops when you think a peak is near
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