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March 30, 2010 A Full Moon Waxes In

|Includes: IVV, SDS, SPDR S&P 500 Trust ETF (SPY), SPY, SSO


Good Evening!
 
             The S&P 500 failed to close above 1174 again.  The clock is ticking as the convergence of surrounding trendlines are pinching price into an acute angle of resistance. 

There is a full moon tonight and folklore of buying the full moon and selling  the new moon have been rampant amongst the trading community in recent months.  Whether you believe in astronomy/astrology or not, the statistics of returns by buying on full moons over the past 6 months are staggering.  I urge you to look up an ephemeris of the lunar synodic cycle and correlate it with peaks and troughs of the S&P the past year.

There's still a sell signal on the S&P 500 for the algorithm, we're short from 1166 and have a buystop at a close above 1181, we will take partial profits at 1116 .

Best Regards,

A.W.

www.strategydeskcode.com

Disclosure: short spx