Market Overview

New Moon Indicator Only Bullish Aspect

By Jeff Pierce

It's not even right to really call it an indicator, at least not how I use it as it's more of a confirming bias for me, but as of late the new moon has been a decent change in trend indicator. Given that Friday was in inside day from the previous candle I'm not sure how reliable it's going to be this time, especially given that the futures are off about 1/2 percent as I write this.

Market timing signals for Dow remain firmly Dow and Nasdaq/TSX are weakening to the point it wouldn't take more of a few more down days for those to switch bearish. If that happens all would be pointing down and it would likely mean the market were in for a sustained downtrend. Earnings may swoop in and save the day but it's way to early to place large bets either way. Best advice is to trade small until the macro dust settles.

Solid blue circle is new moon.

new moon

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas

 

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