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Solar Flares Posted by Danny on April 1, Markets did not break down in the second week of our lunar Red period, and even recorded new highs. This is a sign of ongoing strength.
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What does that mean going forward? That means it will not be easy to add to the recent gains, unless we see a proper breakout to the upside.
The new lunar green period favors a move to the upside. The question will be: is there enough fuel left in the tank to move even higher, and more importantly: hold on to whatever gains we get? My Earl indicator blue line is bottoming, indicating that there is now room for another push to the upside.
But the Earl2 orange and red line remains bearish. This means any new push to the upside could be quickly reversed. So, I am going to remain cautious. The trend is still up, but I would now keep my stop-loss at for the Nasdaq. Any drop below that level would break the uptrend, and probably signal the start of a larger move to the downside.
What could trigger a downturn? Well, among many other things I would watch out for solar flares this week. A few weeks ago, we had a post about Watching solar activity.
Watching for potential solar flares is equally important, because solar flares cause geomagnetic stormswhich are known to have a negative effect on stock markets. I watch it every day before the market earl indicator for options.
So what to look for? Most sunspots are harmless, but bigger sunspot groups can release solar flares, including the rare and dangerous X-class flares.
So, when a big sunspot group becomes visible at the left of the picture, then we know it will come near the middle of the picture after about 7 days and then it will be pointing right to us.
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This can knock out satellites and cause blackouts. The good news is we have tools to anticipate when X-flares might come our earl indicator for options.
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As you can see in the current flare monitor picture abovea big sunspot area number 05 has appear on the left side. The table on the right shows you that this is a dangerous sunspot group.
As this group will probably remain in view for another 10 days, we better keep an eye on it. Good luck.
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