Just waiting
Posted by Danny on November 16, 2015
Markets pulled back significantly last week and we recorded a 126 points loss for Nasdaq in the recent lunar green period. With a new red period now starting stocks will probably remain under pressure. Let’s have a look at the Nasdaq chart (click image to enlarge it):
All my indicators point down and have further to fall before we can start looking for a tradeable bottom. Especially the slower Earl2 (orange line) is still very high. So I would just wait and see until the setup looks more favorable. A further drop to 4800 is not out of the question.
Could it go lower and fall below the August lows? Everything is possible, but I don’t think this market has topped out already. I didn’t see the kind of public enthusiasm and participation that normally marks major peaks.
Danny
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This entry was posted on November 16, 2015 at 2:00 pm and is filed under Financial Astrology, Market Commentary.
Tagged: lunar cycle. You can follow any responses to this entry through the RSS 2.0 feed.
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LunaticTrader
Just waiting
Posted by Danny on November 16, 2015
Markets pulled back significantly last week and we recorded a 126 points loss for Nasdaq in the recent lunar green period. With a new red period now starting stocks will probably remain under pressure. Let’s have a look at the Nasdaq chart (click image to enlarge it):
All my indicators point down and have further to fall before we can start looking for a tradeable bottom. Especially the slower Earl2 (orange line) is still very high. So I would just wait and see until the setup looks more favorable. A further drop to 4800 is not out of the question.
Could it go lower and fall below the August lows? Everything is possible, but I don’t think this market has topped out already. I didn’t see the kind of public enthusiasm and participation that normally marks major peaks.
Danny
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This entry was posted on November 16, 2015 at 2:00 pm and is filed under Financial Astrology, Market Commentary. Tagged: lunar cycle. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.