Fear Of Missing Out - Nov 3, 2023
#154 - A Gann Master Cycle forecast following the DJIA, SPX, Nasdaq Composite & updates on FTSE, DAXX, Nifty50, Shanghai Composite, Nikkei225
Introduction
Last week, I mentioned: “It is possible that the market could rebound for a while between the recent Solar eclipse and the upcoming Lunar eclipse on October 28, 2023, as shown in the foldback scenario observed in last week's post.” and it did.
A divergence in the Advance-Decline signalled the SPX was not likely to continue on its foldback last week Friday. Measured moves (blue arrow lines) also indicated a cycle was about to change the trend. This was also approximately 90 days from the end of July, another reason to expect a rebound.
Lots of Gaps were formed along the way, possibly signalling the “masses” jumped in hastily as if they feared missing out. I am not so sure yet if a seasonal low has been set or if the 60-year cycle has returned to its ordinary course.
There are a lot of hard planetary aspects in November, like the upcoming Mars Uranus opposition, so expect much volatility ahead of us. Early this week, I wrote a seasonal quote from W.D. Gann regarding November 8th on X (formerly known as Twitter). It is a minor seasonal date to watch for a change in trend.
Is there a fear of missing out or has the trend changed? More on this in this weekly edition of the Fiorente2’s Newsletter. In this week’s post, I will review the Gann Master Cycles for the major US Indices. I have included updates on foldback scenarios across the World Indices, like FTSE, DAX, Nifty50, Shanghai Composite and the Nikkei225.
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This analysis is intended for general informational & educational purposes only. Hypothetical or simulated performance based on past cycles has many limitations. Cycles can contract, extend, and invert. Anomalies can occur. Hence, past performance is no guarantee for the future. No advice. Please take a look at our full disclaimer.