My earlier forecast of a dip has not yet happened. The market did not respond to the turning of the moon cycle. This is strange. A fall should occur later this week.The fall does not have to be large but should at least be 50 points.
The market is psychologically very strong and some trigger in the opposite direction is needed
- Chinese retail and GDP data later today Monday
- German economic climate and US housing data on Tuesday
- Overreaction by the US in response to China.
The market is psychologically very strong and some trigger in the opposite direction is needed
- Chinese retail and GDP data later today Monday
- German economic climate and US housing data on Tuesday
- Overreaction by the US in response to China.
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I've given it some more thought. The moon cycle down point was around January 11; just a flattening. We are now in the up-phase of the moon-cycle and we are in between two Fibonacci points. I think we will see index edging higher to at least 2715 before the end of the month. Then I am not that optimistic
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The market is edging up towards 2715. The peak of the cycle is one week from now, but a decline could easily happen three days early or three days late.
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The 62% Fibonacci retracement completed. Moon cycles is completed. Market is short term overbought. The market should decline.