Not just because it’s Friday the thirteenth, but because of the market cycles, technical analysis and a little experience to boot.
Friday is a lunar cycle and as such, a full moon.
Sometimes crazy stuff happens Friday’s that are the 13th, and sometimes the markets make a turning point in full moons.
Low volume is eventually followed by heavier volume, and higher prices are eventually followed by lower ones.
While these are not the technical reasons why I believe we should be on the cusp of at least one big down day, they are some of the reasonable common sense reasons.
In addition, I thought it would be interesting to look back at the last time there was a Full Moon on Friday the thirteenth. Guess what? Big pivot in the stock market. Look at the chart below, the day before on October 12, 2000 identified by the blue shaded circle, the market had what we call a capitulation low, followed by a trend change on, what – Friday the 13th.
Then as you would suspect, I had to look further. What do you know, the next Full Moon Friday the Thirteenth was March 13, 1998. Guess what, not a huge day by any means, but it was a one day trend change. See below identified by the blue sphere again.
I thought it was relevant to look back in time to see if there is a pattern to be watched. There is.
This topic and more is discussed in today’s video found here: