LunaticTrader

Investing with the Moon

Outlook 25 July

Posted by Danny on July 25, 2011

Markets rose quite nicely last week, giving us a good start for the current lunar Green Period.

Here is the updated chart for the Nasdaq Index (click for larger image):
Nasdaq

 

Long term uptrend remains intact. Look for the market to try to push above 2900 this week. Failure to do so would send out a warning for the next upcoming lunar Red Period in early August. Strong resistance is likely at the 3000 level.

It is an interesting situation going forward. Let’s see if the lunar cycles continue to keep us on the right side of the market.

Good luck, Danny

2 Responses to “Outlook 25 July”

  1. Larry Goto said

    Congresss must make a decision by Aug. 2nd, what does lunatic trader think will happen?

  2. Danny said

    Hi Larry,

    Our system says nothing about what decision will come out by Aug 2nd. My guess is they will raise the debt ceiling in the last minute, because what other choices do they have?

    What we do know is that the current lunar Green period ends on Aug 2.
    So a rally is possible Monday, maybe on the back of news that is taken as a positive by the market. But even then the market is quite likely to come under pressure in the ensuing days and weeks.
    The market is hesitating this week, because of the uncertainty.
    This is one of those situations where a pending political decision can hold up the normal cycles.
    Then we have to be extra careful, and play wait and see.

    Danny

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