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The Market is Approaching an Important Anniversary
July 18, 2012 01:04 PM
THEY SAY IT'S YOUR BIRTHDAY
Editor's Note: The following is a free edition of
Jeff Cooper's Daily Market Report
. For a two-week FREE trial of his daily commentary and nightly day and swing trading picks,
Tomorrow is the 5-year anniversary of the July 2007 primary high. The 5-year, 60-month cycle, has often called important turning points.
For example there was the August 1982 low to the August 1982 high, followed by a crash.
The market broke out for a parabolic 5-year run in the first quarter of 1995, concluding with the historic top in the first quarter of 2000..
From the important October 2002 low, there was a 5-year advance into October 2007.
Then of course, there was the 5-year run-up from 1932 to 1937.
Probably just happenstance.
Anyway, it is worth noting that July 19 squares a price of 1379 on the
It is also interesting that July 19 is 90 degrees or square the date of October 19
which was the crash day in 1987, which was 25 years, or 300 months (60 X 5) ago.
The power of these square-outs is exemplified by the fact that the all-time S&P high of 1576 was 90 degrees, or square the October 11 date of that high in 2007.
The important thing to remember is that while not all square-outs represent important highs or lows, all highs and lows are important square-outs of time and price.
This was the case this year when time and price met at 1422 on April 2.
See the square of 9 chart from this morning's
Daily Market Report
Click to enlarge
No positions in stocks mentioned.
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