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

Shrouded in mist

Posted by Dan on July 31, 2012

The markets remain very difficult to read for the moment, and are largely moved by the day to day news.
The stocks went up after initial weakness last week, once again giving us mixed signals.
Let’s have a look for the current Nasdaq chart (click for larger image):

Nasdaq

Back in May we already warned for a sideways summer, and that’s what we seem to be getting. This situation may well continue until autumn, when the market is likely to chose a direction.
A one year uptrend remains intact as long as this market holds above 2850.
The current lunar Red Period could create a retest of that level, but if we are still above 2850 by the end of the week, then we will have a good buying opportunity with a potential to go to 3050 in August.

Stay tuned, 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: