LunaticTrader

Investing with the Moon

Outlook 5 December

Posted by Danny on December 5, 2011

Another strange week, now with the market swiftly surging back to its October highs.
Volatility remains high, and any news item can turn things around quickly.

Let’s have a look at the chart for the S&P 500 Index (click for larger image):

S&P500

We are back near the important 1250 support/resistance level. A break above 1275 would be a very positive development.
But a drop back to 1200 is at least equally likely , since we remain in a lunar Red Period.
The market remains highly uncertain, so I would stay on the sidelines.

Be well, Danny

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