Investors’ resilience got tested again last week as stocks had some significant down days. The up trends in major indexes are not broken, but there is certainly reason to be cautious as I have been warning in my daily reversal levels posts and on Twitter. Here is the current Nasdaq chart: All indicators are pointing… Continue reading LT wave for July
Tag: LT wave
LT wave for June
Markets continue to record new highs and the S&P 500 seems to have broken the resistance near the 2400 level. I didn’t see too many “sell in May” tweets, probably because that strategy failed last year, but that doesn’t tell us anything for this year. I would just ride this rally as long as it… Continue reading LT wave for June
LT wave for May
The Nasdaq has climbed to new record highs while the S&P 500 keeps sitting just below its March 1 highs. The Nasdaq gained 243 points in the recent lunar green period, making it the best green period since October. Let’s take a look at the current Nasdaq chart: The sideways pause that started in March… Continue reading LT wave for May
LT wave for April
Markets had a good week and the Nasdaq is close to new all time highs already. The S&P 500 has been a bit weaker. The recent lunar green period has ended with a 14 point gain for Nasdaq. Not a big gain, but the lunar cycle seems to be getting back to its normal rhythm… Continue reading LT wave for April
LT wave for March
The market has drifted sideways in the recent week and we are now going almost 100 trading days without a 1% down day in the S&P 500. That’s already the longest such streak since 1995. It will be interesting to see if this move joins the 100 club. Let’s have a look at the current… Continue reading LT wave for March
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