LunaticTrader

Investing with the Moon

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 922 other subscribers
  • Archives

  • Categories

  • Tags

    $EURUSD 1920s Bitcoin bonds Brazil Brexit China crash Crude Oil DAX Dow 32000 Dow Jones Industrial Average Earl Eclipse Euro financial astrology FTSE 100 Index gold Greece Hong Kong iceberg key levels long term LT wave lunar cycle lunar cycles mania Market trend method MoM monthly Nasdaq Nikkei oil Oil Prices outlook QE Quantitative easing reversal levels S&P 500 SKEW solar cycle stock market stocks strategy Sunspot Technical analysis TLT VIX weekly

Clouds but no rain

Posted by Dan on April 9, 2012

Markets have declined a bit, but nothing spectacular so far.
Our lunar Red period is about to end, so we may be setting up for another push higher over the next couple of weeks.

Let’s have a look at the current chart for S&P500 (click for larger image):

S&P

Here we see the same long term trend channels we studied for the Nasdaq index last week. The steep up trend that started last autumn is still intact. If the S&P falls to 1375 in the next day or two, then I expect another rally attempt to start, which could take us back up to 1430 or even 1450.
The momentum is still with the upside and bull markets do not give up easily.
I would keep a stop loss around 1340.

Be well, Danny

Post a comment (disagreement also welcome):

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 )

Twitter picture

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

Facebook photo

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

Connecting to %s

 
%d bloggers like this: