From Jeff Cooper at Minyanville –
After today’s close we will have the Autumnal Equinox and a Full Moon.
The September 8th new moon hit near the beginning of the acceleration part of the current rally.
Historically, the equinox is a turning point as it was last September, which marked a Key Reversal Day.
September 22, 1987 was the low before the last rally before an October crash, i.e. the low before the last pivot high, the low of which when snapped was followed by a crash.
Yesterday coincided with 90 degrees in time from the June high and Summer Solstice, while the end of the month and quarter-end will coincide with 90 degrees in time from the July 1st low.
Can’t make this stuff up, but it’s uncanny how cycles fit with technicals, fundamentals and other forces. Just be on your toes…..always.
Markets traded a bit lower today and I will be back with another look at the US Dollar…..which nailed the 80 target today, and Gold made it to 1,298 before a small selloff.