Ready for a dip
Posted by Danny on February 27, 2012
The markets have stagnated near major resistance levels, right in line with our comments last week.
We are now entering a new lunar Red Period again, so let’s see if we get any downturn.
Here is the current chart for the S&P 500 Index (click for larger image):
This index has now reached back up to last year’s high. Our lunar cycles suggest a likely correction within the next two weeks. Important support should come just above 1300 and then at 1260. I would do some buying if these levels are reached.
Many investors have missed out on the rally that started last year, and are waiting for a chance to get in. So, I think we will see another swing upwards before the market enters a bit longer pause.
Good luck, Danny