The bear moon has failed.

If and when the market breaks through 395 resistance, I expect a bullish move through intraday resistance to the next level of daily resistance, which is at around $515-$535. Resistance at $450 is still considerable, but an interesting new moon pattern has me thinking the bull market may last quite a bit longer. As I've mentioned before, bullish full moons in the summer failed, making way for a long bear run. After that, the moons seemed to be good indicators until this most recent bearish new moon, despite which we are still in an uptrend. To me, this signals the beginning of a longer uptrend.

I'm still somewhat cautious since there is a lot happening in the next week or so, but I'm very optimistic for the time being. Look for a break of $395 for a safe entry.

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