The major indices have a roller coaster day and finish mixed – What's next for Nasdaq?
|Recap 5/12 – Thursday, the S&P gapped open down 31 handles and then declined another 27 handles into a 9:40 AM low. From that low, the S&P zig zagged 88 handles higher into an 11:10 AM high of the day. From that high, the S&P declined 76 handles into an 12:01 PM low. From that low, the S&P rallied 41 handles into an 12:47 PM high. From that high, the S&P declined 71 handles into a 2:44 PM low of the day. From that low, the S&P rallied 72 handles into the close.
5/12 – The major indices, following an AM rally, had a roller coaster day and finished mixed per the following closes:
DJIA – 103.81; S&P 500 - 5.10; and the Nasdaq Composite + 6.73.
Looking ahead - Last night, we had 5/12 as our next change in trend window. We got a new low for this year’s decline and then a huge reversal to the upside into the close. Our next change in trend windows are 5/13 and a 4 star cluster for over the 5/13 weekend, which includes a Lunar Eclipse.
The Now Index is in the BUY ALERT ZONE. This is a cautionary signal for the bears that there is a moderate imbalance of too many shorts.
This is not an outright buy signal.
Coming events
(Stocks potentially respond to all events).
D. 5/12 AC – Saturn Parallel Latitude US Moon. Major change in trend US Stocks, T-Bonds, US Dollar.
E. 5/13 AC– Moon’s North Node Parallel US North Node. Major change in trend US Stocks, T-Bonds, US Dollar.
F. 5/13 AC – Venus Aphelion. Major change in trend Cattle, Copper, Cotton, Sugar, Wheat.
G. 5/13 AC – Moon’s North Node 120 US Neptune. Major change in trend US Stocks, T-Bonds, US Dollar, Oil.
H. 5/13 AC – Full Moon/Lunar Eclipse in Scorpio. Major change in trend Financials, Grains, Precious Metals, Cocoa, Hogs, T-Bonds.
Stock market key dates
5/14 (Sat.) = 5,329 (73^2) days > 10/11/2007 Major Top.
5/14 (Sat.) = 33,856 (184^2) days > 9/03/1929 Major Top.
5/19 = 29,241 (171^2) days > 4/28/1942 Major Low.
5/28 (Sat.) = 8,100 (90^2) days > 3/24/2000 Major Top.
Fibonacci – 5/16. 5/28.
Astro – 5/13, *5/16*, 5/17, 5/23, *5/27* .
Please see below the S&P 500 10 minute chart.
Support - 3855 Resistance – 3980, 4020, 4100.
Please see below the S&P 500 Daily chart
Support - 3855 Resistance – 3980, 4020.
Please see below the April Planetary Index chart with S&P 500 5 minute bars for results.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.