Looking up again
Posted by Danny on September 26, 2016
Last week we wondered whether the market would continue to correct, or gradually turn up again. It now looks we did indeed muddle through the week and stocks are searching for new highs again. We remain in a lunar green period and the technical situation has improved. Here is the Nasdaq chart:
The slower Earl2 (orange line) has finally bottoming out and the Nasdaq is printing new record highs. The Earl and the MoM indicator have further room to rise. So, a climb to overhead resistance near 5400 is feasible, but of course not guaranteed. Around 5400 I would look for selling to come in at the long term trend line (green).
Reversal levels are in bullish mode for all major indexes and time will tell where this upswing ends.
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This entry was posted on September 26, 2016 at 12:58 pm and is filed under Financial Astrology, Market Commentary.
Tagged: lunar cycle, reversal levels. 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.
Looking up again
Posted by Danny on September 26, 2016
Last week we wondered whether the market would continue to correct, or gradually turn up again. It now looks we did indeed muddle through the week and stocks are searching for new highs again. We remain in a lunar green period and the technical situation has improved. Here is the Nasdaq chart:
The slower Earl2 (orange line) has finally bottoming out and the Nasdaq is printing new record highs. The Earl and the MoM indicator have further room to rise. So, a climb to overhead resistance near 5400 is feasible, but of course not guaranteed. Around 5400 I would look for selling to come in at the long term trend line (green).
Reversal levels are in bullish mode for all major indexes and time will tell where this upswing ends.
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This entry was posted on September 26, 2016 at 12:58 pm and is filed under Financial Astrology, Market Commentary. Tagged: lunar cycle, reversal levels. 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.