Markets climbed to new all time highs last week and the Dow finally got above the 20k level for the first time. But stocks appear to be pulling back from those new highs and that means we have to consider scenario two I described in my recent Dow 20k post. A sharper pullback could be… Continue reading LT wave for February
Tag: LT wave
LT wave for January
Stocks had rather flat end of year trading with some weakness surfacing in the final days of December. The lunar green period produced a 54 point loss in the Nasdaq, a fitting close to a year which has been difficult for lunar cycle trading. More on possible reasons for this bad year and when “normal”… Continue reading LT wave for January
LT wave for November
Stocks came under some pressure last week and the S&P 500 is struggling to stay above the important 2120 support level. As we pointed out last week, price action has been weak and there is nothing going on as long as there is no clear breakout, up or down. We are still in that situation… Continue reading LT wave for November
LT wave for October
An up and down week for S&P 500 ended with little change for the week and the month. Major indexes are once again close to new all time highs. The direction of the next significant swing is still very uncertain. Here is the current S&P 500 chart: A push to record highs looks quite likely,… Continue reading LT wave for October
LT wave for September
Markets have been trading without any direction recently, and with the end of the month coming up I have postponed my weekly blog post by a few days to get out the new LT wave chart today. When stocks move in such a narrow range there is of course little or no space for the… Continue reading LT wave for September
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