Gartman Turns Bearish: "Today Is The Summer Solstice; Be Prepared"

Having been bullish of stocks in recent weeks, Dennis Gartman is starting to turn in the other direction. The catalyst for his latest bout of skepticism, aside from stocks having been "universally lower" when he posted his daily note sometime in the early morning (that is rapidly changing) are, well, the stars - namely that today is the Summer Soltice. We'll let him explain.

SHARE PRICES, UNIVERSALLY, ARE LOWER and they are sharply so as all ten of the markets that comprise our International Index have fallen in the course of the past twenty four hours, and as two of those markets…that in Australia and that in Brazil… have fallen by more than 1%, with Brazil’s market actually having fallen by 2.0%. Universality of direction… whether higher or lower… has always been a rarity and has tended to mark either highs or lows as major turning points, and especially after extended moves in one direction. In this case, since the previous direction has been upward, the fact that all ten of the markets in our Index have fallen has put the very nature of the bull market in jeopardy.

 

Too, there has been a historical precedent for market turns of consequence to have taken place at or very near to solstices and equinox. Given that today is the Summer Solstice we are on guard, for as the chart this page suggests the past may not perfectly be the prologue to the future but it is at least worthy of note. We note further that in 1987 stocks peaked one month before the Fall equinox and completed their violent “crash” one month later.

 

 

The 1976 top and 1978 bottom in the Dow were both within 2 weeks of equinoxes. In 1929… a year of true market ignominy… there was a minor “Crash” on March 25 hard upon the spring equinox and the Dow topped in early September of that year, two weeks before the autumnal equinox, while the London stock market crashed on the 20th of September, precisely on the equinox. History does not always rhyme, but it does tend to have meter. Today is the summer solstice; be prepared. The “meter” is running:

Comments

Too-Big-to-Bail (not verified) Wed, 06/21/2017 - 08:42 Permalink

Sounds like some real hocus-pocus type nonsense -- or basically what the central banks have been espousing for years

Tim Knight fro… Wed, 06/21/2017 - 08:47 Permalink

Why in the hell does Dennis the Menace choose to envelope so many words in quotation marks???? Examples above.........."crash" and "meter"These are NOT peculiar expressions or turns-of-phrases that demand quotations, Dennis! Jesus, man!

taketheredpill Wed, 06/21/2017 - 08:55 Permalink

In ancient times,Hundreds of years before the dawn of historyLived a strange race of people, the DruidsNo one knows who they were or what they were doingBut their legacy remainsHewn into the living rock, of StonehengeStonehenge! Where the demons dwellWhere the banshees live and they do live wellStonehenge! Where a man's a manAnd the children dance to the Pipes of PanHey!Stonehenge! 'Tis a magic placeWhere the moon doth rise with a dragon's faceStonehenge! Where the virgins lieAnd the prayers of devils fill the midnight skyAnd you my love, won't you take my hand?We'll go back in time to that mystic landWhere the dew drops cry and the cats meowI will take you there, I will show you howOh!And oh how they dancedThe little children of StonehengeBeneath the haunted moonFor fear that daybreak might come too soonAnd where are they now?The little people of StonehengeAnd what would they say to us?If we were here, tonightBTFATH

NewNeo Wed, 06/21/2017 - 08:57 Permalink

Well, there is definately something big coming. And might I add, it would not have been anywhere as ominous, without the QE1, QE2, Operation Twist and Operation Ponzi scheme....well who knows where we'd be. 

Quinvarius Wed, 06/21/2017 - 09:17 Permalink

Did anyone bother to tell this F tard we have had 14 solstices and equinoxes since this market bottomed out?  Well, it is going to dump after he gets blown out of his over leveraged short position.  NAS100 chart is broken for a week now.

Sick Underbelly Wed, 06/21/2017 - 09:18 Permalink

Hmm... If I tried to sell you something that only worked 13 times out of 100...say, an AR-15, or a car...would you buy it?Range:  1999 - 2014Number of Cited Events: 4Number of Equinoxes: 32  (16 years, 2 equinoxes each year)% Hits: (4/32)*100 = 12.5%Conclusion:  Something else is triggering these observed crashes.