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

Nasdaq 5000 is coming

Posted by Dan on February 9, 2015

Markets enter the week in a nervous mood. Standoff situations in Ukraine and Greece seem to be reaching another climax and energy prices remain very volatile. What’s not to like? Two weeks ago I wrote about the market getting ready for a push to new highs. Is this the wall of worry that is typically seen before a sudden surge higher in the stock market? Let’s have a look at the Nasdaq chart (click image to enlarge it):

Nasdaq

We will be starting a new lunar green period this week. That doesn’t guarantee upside action, but it means the odds for some kind of rally are quite good. Technically we also have a setup that can give us a sudden push to new highs. The Earl2 indicator (orange line) has bottomed out and the faster Earl (blue line) shows a building up-trend with further room to rise. All is ready for a move towards 5000.
Could the move be aborted still? Of course, that’s always possible. Given that we have a quadruple bottom at 4550 means it would probably get pretty ugly if that level gets broken on a fifth try. So, we watch that level very carefully. But it remains a bull market until proven otherwise.

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: