Ready for a dip

The markets have stagnated near major resistance levels, right in line with our comments last week.
We are now entering a new lunar Red Period again, so let’s see if we get any downturn.

Here is the current chart for the S&P 500 Index (click for larger image):


This index has now reached back up to last year’s high. Our lunar cycles suggest a likely correction within the next two weeks. Important support should come just above 1300 and then at 1260. I would do some buying if these levels are reached.
Many investors have missed out on the rally that started last year, and are waiting for a chance to get in. So, I think we will see another swing upwards before the market enters a bit longer pause.

Good luck, Danny

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: Logo

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

Facebook photo

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

Connecting to %s

%d bloggers like this: