US markets tried to rally last week, but didn’t succeed to print new highs, with the exception of the Dow Industrials. The market appears heavy, but hasn’t really broken down yet, so a further grind to marginally higher highs is still possible. Let’s have a look at the S&P 500 (click for larger image): The… Continue reading At the breaking point
Tag: lunar cycles
Chances for another high
US markets dipped last week, but recovered some ground already on Friday. Our LT wave chart for July indicated a bottom for the 11th, looks like it missed by a day. We are about to enter another lunar green period. Can this market climb to new highs once again? Let’s have a look at the… Continue reading Chances for another high
Déjà vu in the S&P 500
Stock markets seem unstoppable. The Dow has broken above 17000 and the S&P 500 is closing in on the 2000 level, completely in line with the S&P scenario we posted two weeks ago. The market setup is now a carbon copy of the one we had in late December (click for larger image): Overhead resistance… Continue reading Déjà vu in the S&P 500
Buy China
Last week I asked: is the bull exhausted? The answer seems to be a resounding no. The S&P 500 has burst into new highs already, so it looks like its quick pullback to 1925 is all we can get as far as ‘corrections’ go in the current environment. The round number 2000, which would be… Continue reading Buy China
Is the bull exhausted?
The S&P 500 fell back towards 1920, as we had indicated last week, with other markets also pulling back from recent highs. Still, the Nasdaq closed out the recent lunar red period with a healthy 68 point gain, suggesting ongoing strength in the market. The Nasdaq is one of the indexes that has not exceeded… Continue reading Is the bull exhausted?
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