I'll wait until after the election to write a new post as the election has all the oxygen in the room at the moment. I won't wait for a final result if one is not given either Tuesday night or Wednesday morning.
I will say this. Neptune goes direct on November 11. Every time Neptune turns to direct motion the Sun trines Neptune approx. 19 days before (this time Oct 23) and the Sun squares Neptune approx. 11 days afterwards (this time Nov 22). If the markets go down at the Sun trine Neptune (which they did this time), the market often goes up for the Neptune direct date and then goes hard down. As the Neptune direct signature is 2 days before the total Solar eclipse of Nov 13, I for one plan to be out of the market on the preceding Friday, which is Nov 9. Note, if the market is not going up into Nov 9th then this trade is void.
In the mean time I wrote the following back in February about this time period.
http://trading-daze.blogspot.ca/2012/02/presidential-election-nov-6-2012-and.html
If this plays out and we get a rally on the 9th, which is what my charts say, is this still valid? When would we see a trough?
ReplyDeleteI would say the stock market will have to start up tomorrow into Friday. Since the Neptune direct date is Sunday then the down move, if it happens, should start by Nov 12 - 14. I think the market will have a tough time getting through the 1388 on the SP500. If it does then the 1363 area would be next support.
ReplyDeleteRemember the market has to go up into Friday. String resistance sits around 1364 SP.
The last sentence from the last comment should read.
ReplyDelete"Strong resistance sits around 1464 SP." Sorry about any confusion.