We had a lunar eclipse Friday.
It was a moon-rise eclipse in the U.K. We expect to see the results in the FTSE next week.
It wasn’t visible in North America. But it still made its influence felt.
It definitely marked a time of tension.
And true to form, the lunar eclipse also brought its share of lunacy.
Take U.S. President Donald Trump for example. During a Rose Garden appearance at the White House yesterday, he was gleeful about an 13.3% unemployment rate, which rivals job-loss levels during the Great Depression.
He also invoked George Floyd, the black man who was murdered by a Minneapolis policeman on May 25.
“Hopefully George is looking down and saying this is a great thing that’s happening for our country,” Trump mused. “It’s a great day for him. It’s a great day for everybody.”
Even though it’s not quite clear what the president meant by that, he was clearly happy about the 13.3% unemployment rate.
That rate, by the way, turned out to be erroneous, thanks to a “misclassification error” from the Bureau of Labor Statistics. It really should have been reported as 16.3%.
Funny Numbers At The Lunar Eclipse
Even so, the lower-than-expected figure was enough to drive the stock market wild.
The Dow Jones Industrial Average was up by 829 points by the end of the trading day, after soaring by more than 1000 points during the course of the trading session.
But the lunar eclipse, which was exact less than an hour before Wall Street’s closing bell for the week, could mark yesterday’s market surge as a trading top.
I explained why that’s the case when I talked with Larry Pesavento yesterday morning.
I was his featured guest on his Trade What You See program on Tiger Financial News Network.
We got started with our conversation just a few minutes after the opening bell. But the market was already going wild.
So it was the perfect opportunity to discuss the potential impact of yesterday’s lunar eclipse.
Here’s the video of our complete conversation:
Profitable Trading With Eclipses
By the way, as I mentioned to Larry during our lunar eclipse conversation, my new astro-trading book is almost ready for publication. Profitable Trading With Eclipses is set for publication on June 15.
CLICK HERE for pre-order information.