Outlook July 4
Posted by Danny on July 4, 2011
The market went up very nicely last week.
This means we end up with a strong Green Period and the market may be setting up to move higher.
Here is the current chart for the Nasdaq Index (click for larger image):
The uptrend remains intact and we head into lunar Red Period this week, so I am looking for some pause here.
Thanks to last week’s advance the market can give back some of its recent gains without breaking the long term uptrend.
If we can come through the next Red Period strongly, then we will be set up for a break above 2900 next.
If the market turns back down from current levels, then it will potentially create a large head and shoulders pattern on the chart.
But as long as the Nasdaq holds above 2650 this month there is no reason to panic.
We remain in a sideways pattern between 2600 and 2900 since the beginning of the year, and we have to wait till it resolves one way or the other.
Be well, Danny
LunaticTrader 
emma said
spot on love your analysis.
The guy from trading-club stated today that we are at some critical resistance points and posted a chart of the trannies, hmmm intersting. His stuff is killer.
Can see a case for both sides, but I am more wondering if they have a plan for screwing the bulls partying here. Hmmmm. Greece is not the only one in trouble.
vickv said
Danny,
i just read promotional article on Astrological investing by Kaye shrinker suggesting about e book by Randall Ashbourne : the idiot and the moon
hope he is not following the moon cycles what you follow::::::
i have a huntch he may have learned from you ; just a thought
thanks for your great work and postings.
Danny said
Well, of course I have no patent or proprietary rights on any moon cycles.
Do you have any link to the article you are talking about?
Danny
vickv said
Danny,
i just read promotional article on Astrological investing by Kaye shrinker suggesting about e book by Randall Ashbourne : the idiot and the moon
hope he is not following the moon cycles what you follow::::::
i have a huntch he may have learned from you ; just a thought
thanks for your great work and postings.
Danny,
if you do my myastrology.net
there is an article about this guy if you can read that please
thanks,
vickv
vickv said
Danny,
artcle can be found in myastrology.net
Danny said
Hi Vickv,
I found it and as far as I can see it is rather different from my system.
I am not worried.
But thanks for pointing it out.
Danny
Curt Smith said
Hi Danny, You mention as we enter each color of lunar period a likely pattern, as if each color has past patterns? Can you mention what those patterns are or URLs to them? Is there a URL that gives the lunar color period dates?
tnx curt