actio-et-reactio: for every action there is a reaction. In the background is a sketch by Leonardo da Vinci-teeter-totter- a symbol of how tenuous is the balance between extremes

actio-et-reactio

Balance is but a brief transition between extremes.

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Wednesday, May 01, 2002

First Day of May: Quite Dreadul

Actio - reactio, give and take, see and saw, that's what this is about. On the backside of nice is quite dreadful.

Makes you want to really believe in that moon stuff (lol)... scroll down and see that the lowest lows of the full moon cycle decline generally falls 5 days after the full moon. Now, Friday was the Full Seed Moon, that makes today Day 5 (Note that the chart is Calendar Days not Trading Days). Statistically, there "should" be a rebound. Reminds me of that bear and bull playing pool, where the bull calls it a pre-rally decline.
[Addendum: Having said that, a "rebound" could be a dead cat. One other consideration is that this is the so-called TOM, Turn of Month, during which new incoming funds are deployed and laggards are shed. If there is such a thing this month, it may be muted.
One more observation. Some time ago I mentioned that 1228 was significant in that it is the 78.6% retrace of the 252:4816 1990-2000 bull. This is teeth gritting time for the bullish and rightly so. Should that Fibonacci support crack, at least from a geometric perspective there is little support till you get to the 1166-1203 realms, and of course, the September lows of more recent memory.

Dang commies.

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posted by Ana Maria @ 10:37 AM :: permalink




moon phases
 

At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows

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