November 17th, 2010
It is time, time again for a Lunar Phase update. The last one was on October 8, immediately before a whole list of key events like the mid-term election, major trendline and moving average cross overs … I don’t want to list them all but you can see them in here.
In the two phases (one waxing and waning) since then, the market went up both phases giving the Moon a 500 batting average since the waxing phase should have seen a decline but didn’t. Here’s the scorecard:
Although the market has been correcting for the past several trading sessions (as it should according to the Lunar Cycle theory), “control” should pass for two weeks, starting next Monday, to a Waning phase and end with a New Moon on December 5.
So if the economic turmoil in Europe, China attempting again to cool down their economy, strengthen $US and other new concerns has you been thinking about dumping stocks and moving back into cash for safety, then perhaps you might pause and take a deep breath.
It’s too early to give up on the Mid-Term Election Cycle, the Nov-April seasonal bullish cycle and all those other factors that lead to a bullish view of the market in 2011. I’m going to wait to see what happens next week.