Full Moon Drives Nasdaq To New 2013 Highs

It’s hard to really trust the market moves when the Nasdaq screams higher and the Dow closes essentially flat and I want to point something out that could be key as we go into next week.

• Oct 18th – full moon (top?)
• Sept 19th – full moon (top in markets)
• July 22nd – (a congestion zone that became a top)
• June 23rd – bottom

My point here is that the full moon is often associated (at least in recent times) with an important reversal area for the Dow. Add in the fact the Nasdaq is really over-extended and enthusiasm for tech stocks after Google’s earnings should be at highs, and you have a recipe for a pullback. I’m not bearish as I am more indifferent to what is going on in the markets. I’m waiting for some sort of game-breaker move to the upside to get long (and we may have it after today, but it will be key to see how the Nasdaq performs in the coming days) or I was waiting for a decent pullback to get long.

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