by Jeff Pierce, Zentrader
This week should be wild, but my market timing indicators remain bullish and suggest any weakness is an opportunity to add quality stocks to your portfolio. Currently the Dow’s pullback hasn’t been much of a pullback at all. It’s more of a consolidation where resolution could come Monday morning as weekend macro news surrounding this Cyprus deal is expected. Watch the noted levels for clues as support/resistance. March 27 is the next Full Moon (noted by solid blue circles) and can be a turning point for the market. Therefore it’s likely we’ll either breakout and continue this rally or begin a corrective phase.
For a more extended look at full/new moon cycles, see the chart.
The 3 line break of the Nasdaq is in a mild pullback, but so far nothing to be concerned about.
If you are looking for a quality watchlist of stocks to focus on I present you with the statistics of my tradewithZEN service collected by a current subscriber. Since last month’s stats 3/4 time frames rose and he added a 6 month time frame – [6 month avg return – 13% with 82% win rate].