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Well, 05/04 and 05/05 have come to pass and no one is jumping out of windows
on Wallstreet, yet. My contention in previous posts was that the Cinco de
Mayo conjunctions were no comparison to August 25, 1987 or the upcoming July
2, 2000. The latter suggests something more significant than May 4th or
5th. The general technique for the astrotechs is to use the conjunctions,
oppositions, aspects in specific, as trend change points. The current
situation seems to be one of holding your breath in advance of the
conjunctions and exhaling when nothing happens except CNBC posts an astro
chart for the first time ever and Ms. Behrend says she would prefer a
Margarita. Best time to strike an opponent is on the exhale and I hope that
is not what is going to happen to the market during a relief rally. Perhaps
its the continual denial of the effect of rising interest rates or a
reflection on the youthfulness of money managers with the fixation on
momentum. The synchronicity of matters on earth and matters in the stars
continue to puzzel and at sometimes induce amazement. For example in
looking for a trend change the end of day cumulative volume has been
declining below its 200 day exponential moving average for quite awhile now.
Recently it has moved above the 200 day ema whereas the DOW is still hanging
out below. The RSI of EODCV and RSI of DOW have an encouraging bullish
divergence as reflected in the uptrend of cumulative volume for the NYA(see
second post). This speaks more for the broad mkt than the narrow dow of
course. This early morning fix on TA also recognizes the uncanny earth/star
synchronicity of conjunctions, oppositions, aspects and trend change on the
MoCycle chart of the OEX, US dollar, XAU, T bond yields, and a commodities
index. Last couple of days the OEX has been at the opposite side of a
standard distribution from all of its intermarket analysis partners just as
the Cinco de Mayo made margarita news, perhaps a premature toast to being
toasted. Its what happens next that is a bit of concern as the potential is
there for a massive mean reversion for all components, or a continuation
move for all out to +,- 3 std. dev. The next four weeks have just got to be
rather significant in the annals of market history.
Bob Roeske
http://www.oextrader.com
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