Sep 6, 2010 - Issue #231
Preholiday rally. Impressive up move but with traditionally preholiday lack of volume. The real test: Will
there be follow through?
CNBC question: Is the market anticipating a Democrat defeat in November?
Countdown till November 2nd elections: 57 days.
W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was fascinated by the apparent
coincidence of important market 'pivot points' and astronomical dates. Theories exist for estimating time and
price of important market turning points but astronomical occurrences are computed with mathematical certainty.
There is no logical reason why these occurrences should coincide yet, empirically, they have.
The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might be well advised to be aware
of their occurrence. Note: The first 5 business days of 2008 concluded on a 'New Moon' and we all know how that
worked out. Coincidence?
9/8 Wednesday - New Moon.
9/23 Thursday - Full Moon.
During the next two weeks, the following DJ-30 components report earnings. Keep a sharp eye
out for possible price swings leading up to 'earnings day' (Subject to revision):
Dow score card for the week ending 9/3/10.
DJ-30: 10447.93 +297.28 +2.93%. The Real World (arithmetical) DJ-30: 46.01 +1.30 +2.93%.
UP: 30, Down: 0.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 7 (+6) 23%:
+*DD, +*HD, +*KFT, +*KO, MCD, +*T, +*TRV.
Consolidating (Generally Lower Highs/Higher Lows) 23 (+10) 77%:
+*AA, AXP, +*BA, +*BAC, +*CAT, +*CSCO, +*CVX, +*DIS, +*GE, +*HPQ, +*IBM, +*INTC, +*JNJ, +*JPM, MMM, MRK, +*MSFT,
PFE, +*PG, +*UTX, VZ, WMT, XOM.
Declining (Generally Lower Highs/Lower Lows) 0 (-16) 0%:
+/- denotes change of direction.
* denotes change of category.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!