Outlook 25 July

Markets rose quite nicely last week, giving us a good start for the current lunar Green Period.

Here is the updated chart for the Nasdaq Index (click for larger image):

 

Long term uptrend remains intact. Look for the market to try to push above 2900 this week. Failure to do so would send out a warning for the next upcoming lunar Red Period in early August. Strong resistance is likely at the 3000 level.

It is an interesting situation going forward. Let’s see if the lunar cycles continue to keep us on the right side of the market.

Good luck, Danny

Outlook 19 July

Just a quick note for this week. I think I also deserve some vacation time.

Excellent results continue.
The lunar Red period that just ended produced a 51 point decline in the Nasdaq.
With lunar Green period now starting we are looking for the market to try the upside again.

Will be back next week with charts and extra analysis.

Warm wishes, Danny

Outlook July 13

Sorry, being a couple days late this week.

The market is clearly stagnating now, not surprising in a lunar Red Period.
Here we have the current Nasdaq chart (click for larger image):

Could be a potentially double top here, but a setback is not so surprising after such a steep rally.
We remain in Red Period, so let the market correct for now.
I would not be surprised to see the Nasdaq push towards 3000 in one of the next Green Periods.
But first we have see how the current lunar Red period works out.
More next week…

Danny.

Outlook July 4

The market went up very nicely last week.
This means we end up with a strong Green Period and the market may be setting up to move higher.

Here is the current chart for the Nasdaq Index (click for larger image):

The uptrend remains intact and we head into lunar Red Period this week, so I am looking for some pause here.
Thanks to last week’s advance the market can give back some of its recent gains without breaking the long term uptrend.

If we can come through the next Red Period strongly, then we will be set up for a break above 2900 next.
If the market turns back down from current levels, then it will potentially create a large head and shoulders pattern on the chart.
But as long as the Nasdaq holds above 2650 this month there is no reason to panic.
We remain in a sideways pattern between 2600 and 2900 since the beginning of the year, and we have to wait till it resolves one way or the other.

Be well, Danny