Outlook 26 December

This is our last weekly outlook for 2011.
Markets rose nicely last week, pretty much as expected.

Let’s have a look at the Nasdaq chart (click for larger imaage);


We remain in a sideways market without clear direction.
Our lunar Green period is about to end, so we will start the new year in Red Period.
Of course, the thin trading in a holiday shortened week can lead to unusual moves and there may be market participants who try to use it to push the Nasdaq above the recent resistance levels (~ 2650 on the Nasdaq).

We are setting up for a major move up or down, which is likely to start in January or February.
The likely direction of the move is going to be UP.
Be ready to buy if the Nasdaq goes above 2700.
More about this in my upcoming annual forecasts.

Happy holidays.

By Dan

Author of LunaticTrader and Reversal Levels method. Stock market forecasts based on proprietary indicators, seasonal patterns and moon cycles.

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: