Outlook 21 November
Posted by Danny on November 21, 2011
The lunar Red Period ended with a 80 point loss for the Nasdaq.
So that’s in line with our moon cycles.
Meanwhile a new Green Period has begun, but the markets continue to go down and the Nasdaq has dropped below the important 2600 level. This means we are getting signs of weakness once again.
Let’s have a look at the chart for S&P 500 (click for larger image):
I am still looking for some kind of rally, but so far we are seeing a very weak Green Period and that is setting us up for further declines into early December.
Because some major support levels are being broken to the downside, I would move to the sidelines until the smoke clears.
There is too much risk for a downside acceleration at this point.
It’s all about listening to the market, and currently it is sending some strong warning signs.
Be well, Danny
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This entry was posted on November 21, 2011 at 2:36 pm and is filed under Market Commentary.
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LunaticTrader
Outlook 21 November
Posted by Danny on November 21, 2011
The lunar Red Period ended with a 80 point loss for the Nasdaq.
So that’s in line with our moon cycles.
Meanwhile a new Green Period has begun, but the markets continue to go down and the Nasdaq has dropped below the important 2600 level. This means we are getting signs of weakness once again.
Let’s have a look at the chart for S&P 500 (click for larger image):
I am still looking for some kind of rally, but so far we are seeing a very weak Green Period and that is setting us up for further declines into early December.
Because some major support levels are being broken to the downside, I would move to the sidelines until the smoke clears.
There is too much risk for a downside acceleration at this point.
It’s all about listening to the market, and currently it is sending some strong warning signs.
Be well, Danny
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This entry was posted on November 21, 2011 at 2:36 pm and is filed under Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.