Few observations about this chart with the new/full moon annotations:
- Since Sept top, we’ve seen a series of lower highs/lower lows for each moon phase.
- This V-bounce as moved right into resistance & this bounce appears stronger than it actually is.
- Volume has been less than stellar on the move higher.
- Full moons typically mark a change in trend or reversal. If that pattern holds, the ST high is in.
- McClellan Oscillator is nearing Sept highs so a reversal here makes sense.
Filled in circles – Full Moon
Hollow circle – New Moon
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