The 18 Year Economic Cycle │Akhil Patel

Akhil Patel was the special guest presenter at the Foundation for the Study of Cycles' June 3 'Masters Working Group' interactive session. Author of 'The Secret Wealth Advantage', Patel discusses how the 18 year cycle affects the markets and how it can transform investing strategies. Patel is one of the world’s leading experts in economic, financial, and property cycles. He has been working for over a decade to produce unique research that combines an in- depth understanding of business, real estate, and stock market cycles. 

 

Reference:
Akhil Patel (June 4, 2024) - Significance of the 18-Year Cycle. (video)

 

See also:
The 18.6 Year Real Estate Cycle.  

2024 in W.D. Gann's Financial Time Table.

S&P 500 Index vs 18.61 Year Lunar Node Cycle │ March - April 2024

 

» I’m not trying to predict the future; I am trying to accurately and quickly depict the present. 

I’m not trying to predict what people will do, but rather identify what they are doing right now. «  
Chris Camillo, 2023

 

 

See also:

Previous Projections.

TPR (2015) - S&P 500 vs True Lunar Node's Speed and the Eclipse Crash Window.

S&P 500 Index vs 18.61 Year Lunar Node Cycle │ January 2024

 

 

» The lunar node, quite abstractly speaking, is the point of intersection of the solar and the lunar orbits. There are, therefore, two nodes in opposite positions in the heavens: an ascending node or lunar north node, and a descending node - the lunar south node. The solar and the lunar orbits are not, in effect, in the same but in different planes, enclosing a certain angle. Thus there arise the two opposite points of intersection. The peculiarity of these two points of intersection is that they do not stand still but slowly move. The plane of the lunar path rotates in relation to the plane of the solar path; so the two nodes move a round. They move around the Zodiac in a contrary direction to the rotation of the planets, i.e., from Aries backward through Pisces, Aquarius, etc. A complete revolution of a lunar node takes place in 18 years and 7 months; after this time, therefore, the node — the ascending node, for example — is once again in the same position in the Zodiac as it was before. The ascending node is, thereby, the mathematical point that (at any given time and again after 18 years and 7 months [= 6,798.383 CD] the lunar orbit rises above the solar orbit, while at the opposite point the descending node sinks below it. «

Willi O. Sucher, 1937.

 

See also:

TPR (Dec 21, 2023) - S&P 500 Index vs 18.61 Year Lunar Node Cycle: Projection into April 2024.

 

S&P 500 Index vs 18.61 Year Lunar Node Cycle │ Projection into April 2024

 

Dec 21, 2023 (Thu) = May 10, 2005 (Tue)

 

 

 In bull markets, New Moons are bottoms, and Full Moons are tops. 

Jan 3 (Wed) 22:30 = 270° = Last Quarter    
Jan 11 (Thu) 06:57 = 0° = New Moon    
Jan 17 (Wed) 22:52 = 90° = First Quarter    
Jan 25 (Thu) 12:53 = 180° = Full Moon    

2024 in W.D. Gann's Financial Time Table

2024

» Major Panic - CRASH! «

» 4-years of falling prices, business stagnated, breadlines, soup kitchens, despair, and unemployment. «

Quoted from:
TPR (2012) - W.D. Gann's Financial Time Table 1784 - 2121 | Extended and Adjusted.

S&P 500 Index vs 18.61 Year Lunar Node Cycle | August 2019

Projected low = Aug 24 (Sat), high = Sep 17 (Tue).

S&P 500 vs 18.61 Year Cycle | Sideways to Down into Jan 03 - 09 (Thu-Wed)

The more precise 18.6 year projection HERE is suggesting a Dec 28 (Fri) High and a Jan 05 (Sat) Low.

S&P 500 Index vs 18.61 Year Lunar Node Cycle | Nov 27 (Tue) Low

This 2000-2018 Analog projects some sort of a low on Nov 27 (Tue),
some sort of a rally into Dec 09 (Sun), another decline into
Dec 22 (Sat), a high on Dec 28 (Fri), and a low on Jan 05 (Sat).

S&P 500 Index vs 18.61 Year Nodal Cycle | Aug 27, 2018 = Jan 14, 2000

Jan 14, 2000 (Fri = Major High in DJIA) + 6,800 CD = Aug 27, 2018 (Mon)

A high should print around Aug 30 (Thu) ± 1 CD. Aug 30 will be also
195 Solar Degrees of geocentric longitude from the Major Low on Feb 09 (Fri)
and 1,440 Lunar Degrees from the Low on May 03 (Thu).

The Golden Fabric of Time and Phi in the Sky │ Nicholas Kollerstrom

Source: Nicholas Kollerstrom (2011) - The Golden Fabric of Time and 'Phi in the Sky'.
In: Correlation 27 (2), July 2011.

Droughts and Floods vs Jupiter-Saturn Cycle and Lunar Declination Cycle

 When the sunspot and lunar cycles coincide there are distinct rainfall peaks. The 18.6 year Lunar cycle created flood years in Central Victoria in 1954-56, 1973-75, 1992-93 and 2010-11. The 2010-11 floods in northern Australia reflected a peak lunar rain-enhancement cycle. This particular lunar cycle was strongly enhanced by the closely synchronised 19.86 year Jupiter-Saturn Synodic Cycle.

Planetary and lunar cycles play an important part in shaping the climate, and also Australia’s flood and drought cycles are influenced by these forces. The Central Victorian rainfall records reveal that the 18.6 year lunar declination cycle and the 19.86 year synodic cycle of Jupiter-Saturn can each enhance or diminish average rainfall over prolonged periods resulting in extreme flood and extreme drought cycles. When these two cycles are closely in-phase with each other and are supported by the El Nino or the La Nina cycle, extreme droughts and extreme floods are likely to occur. This was the case during the early months of 2011 and enhanced by a very strong La Nina cycle during the preceding 9 months. Another major drought period is scheduled to occur around the middle of this lunar cycle (2020). 
 
The above graph shows the long-term rainfall record for Bendigo in Central Victoria, Australia. The Central Victorian climate is particularly sensitive to any changes in average air movements (air tides). This is due to the generally flat terrain of the area, which means the effects of the cosmic cycles are more prominent than in most other places in the world. This can be seen to occur with about 80% reliability during the last 66 years. The dominating effects are most obvious when a four-year rolling average line is used (thick line). The spacing of the recent droughts to flood periods appears to closely follow the “9.3 year rule” (i.e. half of the 18.6 year moon cycle). Peaks and troughs relative to the Bendigo’s long-term average of 544 mm are:

1944         Severe drought (284 mm)        
1954-56   Typical three years of major floods (average 737 mm)
1967         Severe drought (278 mm)        
1973-75   Wettest ever three year flood period (average 861 mm).
1982         Driest year on record (206mm)
1992-93   Two years of flood period (averaging 729 mm per year
2002         After 9 years of declining average rainfall, 2002 delivered only 271mm
2010         Eleven consecutive months of above-average rainfall set a new Bendigo record of 1061 mm. 

 

Reference:
Kevin Long (2011) - Cosmic Cycles and Their Impact on Floods and Droughts in Eastern Australia.

SPX vs 4.5 Degree Steps of Lunar Node to Lunar Apogee | 80th Harmonic

Upcoming aspects in this 18 Year Cycle:
Feb 04 (Sat) = 85.5 degrees, Mar 14 (Tue) =  90 degrees, Apr 13 (Thu), May 07 (Sun), May 26 (Fri),
Jun 19 (Mon), Jul 16 (Sun), Aug 22 (Tue), Sep 25 (Mon), Oct 21 (Sat), Nov 12 (Sun), Dec 02 (Sat),
Dec 26 (Tue), 2018 Jan 29 (Mon) = 144 degrees. See also HERE

SPX vs 15 Degree Steps of Lunar Node to Lunar Apogee | 24th Harmonic

Upcoming aspects in this 18 Year Cycle:
Jan 12 (Thu) = 165 degrees, Mar 14 (Tue) = 180 degrees, Apr 28 (Fri), Jun 04 (Sun), Jul 16 (Sun),
Sep 17 (Sun), Oct 28 (Sat), Dec 02 (Sat), Jan 15, 2018 (Mon).

David McMinn (2016): 9/56 Year Cycle: Lunar North Node - Apogee Angles [5 p.]

DJIA vs Lunar North Node in Zodiac Signs | Louise McWhirter

The mathematically calculated Lunar Nodes are sensitive points in space where the Moon’s orbit around the Earth
intersects the ecliptic - the Earth’s orbit around the Sun. The Ascending Node is where the Moon crosses from
south of the ecliptic to north of the ecliptic. The Descending Node is where it crosses from north of the ecliptic
to south of the ecliptic. In Western astrology the Ascending and Descending Nodes are known as the "North Node"
and the "South Node". Only the North Node is usually marked in horoscopes, as the South Node is by definition at
the opposite point in the chart. In Vedic astrology, the North and South Nodes are called Rahu and Ketu respectively,
and both are marked in the chart. Nodes always move retrograde and are considered natural malefics. Astrologically
the Nodes are thought to powerfully influencing both the affairs of nations and of people. Eclipses occur only near
the Lunar Nodes: Solar eclipses occur when the passage of the Moon through a Node coincides with the New Moon.
Lunar Eclipses occur when passage coincides with the Full Moon. The plane of the lunar orbit precesses in space
and hence the Lunar Nodes precess around the ecliptic, completing a revolution (called a Draconic or Nodal Period,
the period of nutation) in 6798.383 days or 18.612 years. The Nodes need 1.55 years to pass through one zodiac sign.

In her book 'Astrology and Stock Market Forecasting' published almost 80 years ago, financial astrologer Louise McWhirter described a theory of the business cycle. She claimed the low point of the depression was reached in summer of 1933 (Lunar North Node in Aquarius) and predicted the next peak in economic activity would occur in November 1942 (NN in Leo). Her prediction for recovery in 1942 coincided with the massive economic stimulus spending set in motion by the build-up for World War II. Looking at 100 years of stock market prices she consistently found the North Node in the sign of Aquarius during periods of low economic activity. At the halfway point in the 18.6-year cycle, the North Node is moving into the sign of Leo, where economic high points have historically been recorded. After this, the long-term trend moves lower as the North Node slowly and systematically makes its way back to the sign of Aquarius, where the cycle begins anew (see also HERE). 

Enlarge

Using McWhirter’s method, one would have expected the lowest economic period between January 2008 and August 2009 (NN in Aquarius), and then gradually improving from below normal levels to normal levels between August 2009 and August 2012 (NN in Capricorn, Sagittarius and Scorpio). The period between September 2012 and February 2014 was projected to be an above normal period for economic performance (unfortunately the red line of the averaged composite in the above chart doesn't clearly reflect this pattern). 

Though a considerable market correction between now and Q1 2016 is likely (HERE & HERE), a larger ensuing double-dip recession wouldn’t fit into the McWhirter-pattern (HERE). Instead the general upward trend should continue into the major peak-out between May 2017 and November 2018 (NN in Leo - HERE), followed by collapsing and declining markets into the 2020s (HERE).

UK GNP vs North Node | Projection into 2025

See also HERE & HERE

"This is a graph of [UK] GNP, not of annual change, so that when the graph is falling there is a contraction in the economy and when it rises the economy is growing.” 

[Source: Graham Bates & Jane Chrzanowska Bowles (1994): Money & the Markets - An Astrological Guide;  p. 63].

US GNP vs North Node | Projection into 2025

See also HERE

“One of the most important US cycles is that of the Moon's Node. The Nodal cycle does not involve a cycle between two planets, but rather a cycle through the zodiac, a cycle which the 1930s astrologer Louise McWhirter found had a powerful and persistent correlation with the American economy. Her research showed that many recessions in the US can be explained and predicted by the cycle, and so it is an invaluable guide to US economic activity.

[…] Taking the period from 1889 to 1988, we note the change in GNP at each point in the 18.6 year Node cycle. By repeating this over each occurrence of the cycle in the data and averaging the result for each position of the Node, we get the graph shown here.
 
[…] The Node cycle acts very strongly on the US economy, giving a swing of plus or minus 3% per cent in annual growth over the cycle. This is a graph of GNP, not of annual change, so that when the graph is falling there is a contraction in the economy and when it rises the economy is growing.” [Source: Graham Bates & Jane Chrzanowska Bowles (1994): Money & the Markets - An Astrological Guide;  p. 60-61].

Malcolm C. Rorty (1922) - The Forces of the Business Cycle.

2015 in J.M. Funk’s '56-Year Cycle of Prosperity and Depression'

In 1932, J.M. Funk (1892-1941), an American aviation engineer, introduced his concept of a Cycle of Prosperity and Depression, proposing a 56-year cycle in US economic activity. Although this concept garnered some attention during his lifetime, it was largely overlooked by mainstream economists and academia. Funk considered the cycle so significant that he delivered numerous lectures and published a pamphlet, The 56-Year Cycle in American Business Activity, to promote his theory. While the cycle might have faded into obscurity, it was revived through the writings of financial astrologer LCdr. David Williams (1947, 1959, 1982), who extensively discussed Funk's work, helping to bring the theory to a broader audience. Funk was one of the few individuals to predict both the economic upheavals of the early 1930s and the subsequent recoveries in 1933 and 1935. David Williams recounts: 

"During the mid-1930’s, a Middle Western cable manufacturer came into the author’s office in New York and presented him with a pamphlet on Philocracy, written in 1932 by J. M. Funk of Ottowa, Illinois in which the latter propounded a theory of Economic Cycles, which he stated are, “a series of events (produced by ‘cause and effect’) which recur in the same order.” [...] Funk stated: “A knowledge of the present and history is therefore a key to the future. Until Government Standards are based upon the recognition of exterior forces (which govern human conduct) history will repeat itself. THE CHART WILL PREDICT THE FUTURE because the human make-up includes, aspiration, greed, intemperance, fickleness, etc., which traits are governed by endurance; endurance is governed by exterior forces which fluctuate in rhythm and tempo as constantly as the Sun in its journey through the heavens.” The author redrew Funk's chart [...], which was used to illustrate a lecture delivered April 16, 1947 at the Henry George School of Social Science, New York. The results show conclusively that regardless of wars, rebellions, population changes, industrialization, technological, and monetary changes, American business has been dominated by a 56-year rhythm. In each 56-year period three major panic periods occur at 20-20-16 year intervals. While other panic periods intervene, no discernible pattern is evidenced."

 Reference:
J.M. Funk (1932) - The 56-Year Cycle in American Business Activity. Privately published. Ottawa. IL.

LCdr. David Williams (1947) - Rhythmic Cycles in American Business. 

LCdr. David Williams (1959) - Astro-Economics.
LCdr. David Williams (1982) - Financial Astrology.

 

 » [J.M. Funk] claims that February 6, 1933, will be the date for a definite improvement

in business and general economic conditions in the United States. «

  

 La Salle Post Tribune

Monday, January 9, 1933
 

Depression Ends February 6 Says Ottawa Man Here

'Philocracy' is the title of an address that will be made before the Illinois Valley Manufacturers' Club and Chamber of Commerce membership Tuesday noon by J.M. Funk of Ottawa, statistician, inventor, and manufacturer, who has reduced the cycles of prosperity and depression to a mathematical basis and claims that February 6, 1933, will be the date for a definite improvement in business and general economic conditions in the United States. 

 

 The stock market actually reached what is today considered the low point of the 

Great Depression in the Dow Jones Industrial Average on Wednesday, February 8, 1933.

Manufacturers' Club Hears Unusual Economic Analysis Given by J.M. Funk

It is not a mystic or fortune-telling device but a practical aid to business, with a dramatic appeal that carries with it a message of courage and optimism. In adopting the title of 'Philocracy,' the inventor explains that the new thought being advanced by the "technocrats" and "economists" leaves the average citizen and businessman in a state of confusion, while 'Philocracy' is based on facts and strives for sound and reasonable conclusions. The cyclical regularity of prosperity and depression is demonstrated as occurring every fifty-six years, regardless of every obstacle and in spite of them. Reports from Ottawa men who have heard this address explain 'Philocracy' as one of the most interesting and fascinating propositions they have studied. It is said to be entirely different from all other forms of thought on business. Mr. Funk especially invites the interest of men and women who are students of government, business, philosophy, and higher mathematics to check his conclusions against the historical records of this nation over the past one hundred and fifty years. He encourages them to observe the sequence of parallels that apply to business, just as they do to bridge building, steam engines, airplanes, or any other type of engineering.

 

 James Morris Funk, 1933.

The nation's depression will officially end on February 8, with a minor reaction, followed by a major reaction on March 19, J.M. Funk, Ottawa disciple of 'Philocracy,' told members of the Manufacturers' Club and the La Salle Chamber of Commerce at a joint luncheon meeting today. Basing his statement on a formula he had prepared using every possible figure in the economic structure of the nation, Funk declared that periods of depression follow in regular intervals of 56 years. With that information in hand, Funk predicted that 1949 would be a panic year, due to the fact that bonds, debentures, war costs, and other payments were coming due that year.

 

Proved by Charts, Claims Funk

“The chart,” Funk declared, “proves beyond question that humanity does and will not profit by experience; that everything in economics is governed by cause and effect, action and reaction. The chart further proves that panic and depression are the result of production setting a pace that consumption cannot follow. It will be noted that after 56 years each economic event is repeated. Bound up in this lapse of time are indicated the governing forces of human endurance, both mental and physical, which are then manifested by new living standards, customs, and manners. A study of the year-to-year accumulation of surplus production will demonstrate that these cycles repeat, proving that economic patterns are consistent over time. The economic cycle is a chain of unbroken cause and effect events, which, when transposed into common expressions, occur in the order: Depression produces thrift; thrift produces confidence; confidence produces investment; investment produces activity, and activity is prosperity; continued prosperity produces easy credit, easy credit produces over-production; over-production produces fictitious sales and such fictitious sales produce fictitious collateral; fictitious collateral produces an economic structure of fictitious paper value. When the structure is so recognized, it is abandoned. Panic prevails and depression is produced. The depth of depression depends upon the magnitude to which the fictitious condition expanded. Until a financing basis is inaugurated to govern each endeavor, the scientific diversification is workable. The demand for referendums is heeded and facilitated. So long as the organized minorities control legislation, the political payrolls are in excess of services required or efficiency rendered, labor, organized or otherwise, is unscientifically compensated. So long as there be dabbles in countries of different general standards, so long as bonds and debentures are destined to mature regardless of coincidence with other maturities, so long as the government competes with business, then, just that long will memory repeat itself."

 

Covered 118 Years

Funk took his figures over a period of 115 years. First, he noted when the first panic was noted. The panics of 1873 and 1920 followed at 56-year intervals. He said that a depression was due in 1913 but was forestalled by the war and the consequent expenditure of moneys by foreign countries for war munitions. "Depressions," Funk said, "are periods of industrial stagnation when surplus productions are used. We may expect the peak of our market prices in October, 1936, the same as the peak was reached in 1897 before the 1903 crash. In 1817, when canal construction was being financed, leaders described the expenditure of money as wild orgies of speculation; again in 1873, when much money was spent in financing the construction of transcontinental railroads, the same expression was used, and in 1929, William Randolph Hearst expressed himself similarly." Funk was accompanied to the meeting by L. C. Carroll, secretary of the Ottawa Chamber of Commerce, who introduced the speaker. His statements produced an unusual effect on the gathering, who came to attend in a doubting frame of mind, but left with entirely different feelings.

SPX vs North Node | Louise McWhirter's Theory of Stock Market Forecasting

Louise McWhirter presented her theory in 1938 in "Astrology and Stock Market Forecasting" (p. 7-8) as follows:

“Whenever the North Node passes through Scorpio and Libra [2012-2015], there is a transition period as the curve passes from normal, going from normal to high.

[…] The high point of business volume is reached when the North Node transits Leo [2017-2018]. As the North Node goes through Cancer and Gemini, business volume is above normal, but slowly going to normal.

[…] Taurus [2003-2004] is the transition point or normal point as the curve goes from normal to below normal in business volume.

[…] When the North Node enters Aquarius [2007-2008], the low point of business activity has been reached. As the Node transits Capricorn [2009] and Sagittarius [2011], the normal position of the business curve is below normal going to normal.

[…] This is the natural position of the curve without the presence of secondary factors which can distort the curve favorably or unfavorably from one to twenty percent.

[…] The following secondary factors tend to lift the Business Curve:

(1) Jupiter conjunction the North Node. [2009, 2016, 2023]
(2] Saturn trine, sextile, or semi-sextile Uranus. [2002-2003, 2016-2017, 2025-2026]
(3) Jupiter in Gemini or Cancer. [2000-2005, 2030-2035]
(4) Jupiter conjunction, sextile or trine Saturn and Uranus, when in aspect to each other.
(5) The North Node in Gemini. [2013, 2016]
(6) Favorable aspects to Pluto. [2013, 2016]

[…] The following secondary factors have been found to depress the Business Curve:

(1) Saturn conjunction, square or opposition the North Node. [2013, 2016]
(2) Saturn conjunction, square, opposition, or semi-square Uranus. [2012-2013, 2021]
(3) Saturn in Gemini. [2000-2003, 2030-2032]
(4) Uranus in Gemini. [2025-2033]
(5) Uranus square, conjunction, or opposition the North Node. [Jan 2015, Jun 2018]
(6) Unfavorable aspects to Pluto.” [Jan 2015, Apr 2019]

As the Node moved through Capricorn (2010) and Sagittarius (2011) the general economy approached a very high level of activity in Scorpio (2012), and should peak as the Node passes through the sign of Leo (2017). 

However, W.D. Gann associated the period of the Node in Libra (2015) also with stock market panics (HERE). Moving through the signs of Cancer (2018) and Gemini (2020), the economic activity is still positive but beginning to slow to more normal levels. 

The above chart of the SPX and the North Node in the zodiac signs clearly shows that in the past this basic theory was not always properly reflected in the stock market's movements. This has to do with other important astronomical cycles, e.g. the 19.86 Year Jupiter-Saturn Cycle, 19 Year Metonic Cycle, the different natured 18.61 Year Lunar Declination Cycle, the 18 Year Saros Cycle or the varying lengths of the Solar Cycle. Additional important "secondary factors" could be the amazing activities of central banks, especially during the past 40 years. Nevertheless, empirical research discovered a multitude of other interesting economic sub-cycles of 17 to 20 years length, never out-ruled by any human intervention. The Wave Length Index of the Foundation for the Study of Cycles lists the following:
 

Credits: Foundation for the Study of Cycles (1964): Catalogue of Cycles - Part I.

W.D. Gann's Financial Time Table 1784 - 2121 | Extended and Adjusted

 

Reportedly W.D. Gann constructed his legendary Financial Time Table on August 8th, 1908, without an ephemeris. Gann himself has been quoted as saying that this was his greatest market discovery. It is entirely based on the moon’s north node, which completes a full cycle every 18.6-years. This is the same cycle that Louise McWhirter used to predict the stock market as well. To mimic the Lunar Declination Cycle Gann simply alternated a sequence of +19, +18, +19, +18 etc.-years across the top to get an average length of 18.6-years. However, he finally noted that an adjustment would finally be due for Dec 25th, 1989. The above table adjusted the pattern to the ephemeris. 

 

The Financial Time Table predicts years of recessions, depressions, high stock prices, panics, low stock prices, speculative times, stock market crashes, labor strikes and so on. The legend at the right of the table reads as follows:

A - Extreme low stock prices, strikes, repression, despair, and beginning of new business generation for 18-3/5 years. 4 years of rising stock prices and improving business, markets bare of goods. Young men becoming prominent.
B - High stock prices.
C - Panic
D - Low stock prices.
E - High stock prices.
F - Panic
G - Low stock prices.
H - Very high stock prices most prosperous year, waste over extravagance, most money in circulation, much speculation.
J - Major Panic-CRASH! 4-years of falling prices, business stagnated, breadlines, soup kitchens, despair, and unemployment.
K - Same as A plus strikes, unemployment, many prominent deaths. 

W.D. Gann also observed what he came to call the “decade cycle”. In his many commodity and stock market courses, he described the decade cycle this way: By studying the yearly high and low chart and going back over a long period of time, you will see the years in which bull markets culminate and the years in which bear markets begin and end.  Each decade, or 10-year cycle, which is one-tenth of 100 years, marks an important campaign… In referring to these numbers and these years, we mean the calendar years.  

 

To understand this, study 1891 to 1900, 1901 to 1910, 1911 to 1920, 1921 to 1930 and 1931 to 1939.  The ten year cycle continues to repeat over and over, but the greatest advances and declines occur at the end of the 20-year and 30year cycles, and again at the end of the 50-year and 60-year cycles, which are stronger than the others.

Year
1. A year in which a bear market ends and a bull market begins. 1901, 1911, 1921.
2. The second year is a year of a minor bull market, or a rally in a bear market will start at some time.  1902, 1912, 1922, 1932.
3. Starts a bear year, but the rally from the second year may run to March or April before culmination, or a decline from the 2nd year may run down and make bottom in February or March, like 1933.  1903, 1913, 1923.
4. The fourth year is a bear year, but ends the bear cycle and lays the foundation for a bull market.  Compare 1904, 1914.
5. The fifth year is the year of Ascension, and a very strong year for a bull market.  See 1905, 1915, 1925, 1935.
6. The sixth year is a bull year, in which a bull campaign which started in the fourth year ends in the Fall of the year and a fast decline starts.  See 1896, 1906, 1916, 1926.
7. Seven is a bear number and the seventh year is a bear year because 84 months or 840 degrees is 7/8ths of 90.  See 1897, 1907, 1917, but note 1927 was the end of a 60 year cycle, so not much of a decline.
8. The eighth year is a bull year.  Prices start advancing in the 7th year and reach the 90th month in the 8th year.  This is very strong and a big advance usually takes place.  Review 1898, 1908, 1918, 1928.  (2008 did not follow this pattern, which is where a little real estate cycle knowledge was helpful in this instance.)
9. Nine is the highest digit and the ninth year is the strongest of all for the bull markets.  Final bull campaigns culminate in this year after extreme advances and prices start to decline.  Bear markets usually start in September to November at the end of the 9th year and a sharp decline takes place.  See 1869, 1879, 1889, 1899, 1909, 1919 and 1929, the year of the greatest advances, culminating in the fall of that year, followed by a sharp decline.
10. Ten is a bear year.  A rally often runs until March and April; then a severe decline runs to November and December, when a new cycle begins and another rally starts.  See 1910, 1920, 1930.