LunaticTrader

Investing with the Moon

Outlook August 2

Posted by Danny on August 2, 2010

The market gave back some of its recent gains, but we still ended flat on the Nasdaq for the Red Period that just ended.

This means the market shows strength, at least for the time being, and we should now look for a further move upwards in the current Green Period.
Already we see a nice jump in many markets this morning, so let’s see how it continues.

I am looking for recent resistance levels to come into play again (2350-2400 on the Nasdaq, 1150 on the S&P 500).
If those are taken out successfully, then we are likely to go on to test the April highs.
If we fail again at those resistance levels, then the second half of August and the month of September will not look pretty.
So I would trade with a bullish bias, going with the current strength. But we have to stay vigilant in the coming weeks.

Good luck, Danny

2 Responses to “Outlook August 2”

  1. vinod said

    Danny,

    Good Afternoon, i know people read all the astrological sites but i can tell you with utmost confidance that if they read at your blog they will not have to read any other one.

    your predictions are right on the money as you say and they are perfect.

    i read it all the time
    only request i have is they i wish you expand on your forecast because they are very very very helpful.

    thanks again,
    sincerely,
    vinod

  2. Danny said

    Hi Vinod,

    While using the lunar cycles has done very well recently.
    We need to remember that it not always works this well.
    Once in a while the cycles get disturbed, but after some time it comes back to ‘normal’ (at least, that’s what happened in 60+ years I used in my research).

    So typically we get long periods when the lunar cycles allow you to ‘read’ the market pretty well. We have been in such a period for quite a while already.
    But sooner or later the cycles will go ‘off’, and we always need to stay alert for that.

    Danny

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