Stocks have been pressured by the uncertainty over the Greek referendum last week. Of course, the result of that vote was already available on Google trends days ago, as I suggested in my quick post yesterday. What kind of reaction can we expect this week? Let’s have a look at the S&P chart (click image to enlarge it):
We are now in a new lunar green period. The lunar cycle has maintained its perfect record so far in 2015. If it is to keep going for another period then stocks need to rally for some reason or other.
The S&P has fallen back to a long term support trend line. My technical indicators are all in bottom territory, but not turning up yet. So, there is potential for some rally to start in the next week. News from Greece can still swing the market either way, but I don’t think some kind of resolution can be postponed much longer. And any kind of “solution” may trigger a rally.
Danny
LunaticTrader 