The Nasdaq briefly touched a new high for the year last week, but then sold off and fell through important support levels. The S&P 500 and the Dow Jones Industrials are showing a bit stronger, and are still within their up trends that started last November. What to make of this? Here is the current… Continue reading Hanging on
Tag: Nasdaq
Solar Flares
Markets did not break down in the second week of our lunar Red period, and even recorded new highs. This is a sign of ongoing strength. What does that mean going forward? Let’s have a look at the chart for the Nasdaq (click for larger image): The market has closed right near the overhead resistance.… Continue reading Solar Flares
Will buyers appear?
Markets continued to march higher last week, but turned down on Friday, which was the first day of our lunar Red period. It looks like there will be more selling today, as stock markets around the world react nervously to the news of the proposed bailout terms in Cyprus. That story sets a precedent and… Continue reading Will buyers appear?
Watching solar activity
Volatility has increased last week, but stocks continue to look on the upside. With a new lunar green period now underway, the market is set to challenge for new highs again. Here is the current chart for the Nasdaq (click for larger image): Notice the similarity with the market setup we had in early 2012… Continue reading Watching solar activity
LT wave chart
Markets have continued to move in line with expectations. Most major indices remain near overhead resistance lines, but there is no breakout to the upside (yet), and meanwhile we have entered a lunar Red Period. Here is the Nasdaq chart (click for larger image): This market has reached our 3200 target, but seems to struggle… Continue reading LT wave chart
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