Stocks weakened last week, but the Nasdaq remains in the rising wedge pattern that started last year. It is still not clear which way the eventual breakout move will go. Here is the current Nasdaq chart (click image to enlarge it): Thursday’s drop threatened a breakout to the downside, but Friday’s recovery shows the Nasdaq… Continue reading Breakout imminent
Tag: lunar cycles
Forget the VIX, watch the SKEW
In the recent weeks I have been recommending to stand aside and stay cautious until the stock market offers a bit more clarity. And it is not as if we have missed much by doing so. Friday’s drop tells us that some caution is warranted at this point. Is it just a one day dip,… Continue reading Forget the VIX, watch the SKEW
Standing aside
US stock markets act and look tired. Maybe it’s just a little pause, maybe it is the start of a correction, I don’t know. My indicators pointed down last week, they are still pointing down this week. So, I prefer to stand aside until we see a clearer direction emerge. Here is the current Nasdaq… Continue reading Standing aside
When the market is ready the catalysts will appear
US markets are surging higher again. That’s also what we have been calling for in recent weeks. Eclipse green periods tend to be very positive for stocks, and this one has been no exception. The Nasdaq is now knocking on the door of new record highs, one of the last major indexes to do so.… Continue reading When the market is ready the catalysts will appear
Another burst higher?
Markets have been pulling back since the beginning of March. This has brought US indexes back down to major support levels. The stage is now set for another push higher. Will we get it? Let’s have a look at the S&P 500 (click image to enlarge it): S&P is once again trading North and South… Continue reading Another burst higher?
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