The market has continued to edge higher.
We are coming close to overhead resistance levels, so I think the upcoming lunar Red Period will be the start of a pause in the market.
Let’s have a look at the current Nasdaq chart (click for larger image):
The stocks have risen more than 10% since mid-December.
With a couple of Green Period days remaining the Nasdaq could reach 2850. But that’s where I expect some hesitation.
Short term traders can use any strong days this week to take some profit.
This has been a good start to the year.
If you missed our 2012 forecasts then you are still welcome to download your copy here:
Be well, Danny
Danny, i know i am writing this late here and you possibly will get it in the morning if you are in UK.
you must have heard about sun storms those are occuring and infact, lots of traffic and satelites have been affected as you always mentioned in your notes when geomagnetic storms occurs it affects the markets downturns
do you think is this sun storms of any significance????
write when you can please
The information about geomagnetic storms is on our main site here: https://lunatictrader.com/?Geomagnetic_Storms
There you can also find a link to the research about it, and charts showing the recent days’ geomagnetic data.
It is something to keep an eye on, but I wouldn’t trade on the basis of this geomagnetic information only.