The Review of the Effect of Moon Astrology in the Tehran Stock Exchange: Evidence from the Moon Financial Astrology

Astrology examines the effects of celestial bodies in terms of distance, mass, position and speed of movement in the universe, especially the planets of the solar system, on the events of the earth and the conditions of its inhabitants. One of the new field of astrology is financial astrology, which is based on the investigation of the effects of celestial bodies in the financial markets and how their effects occur. This article is done with the aim of how the rotation and position of the moon in the sky can affect the financial markets. For this purpose، the statistical population of the Tehran Stock Exchange and the statistical sample of the total index were selected for a period of 13 years (2009-2021) and examined by the T-TEST method. The results show the effects of some indicators of the moon on the variables of volatility، volume and number of transactions، but the return is not affected by this. Therefore، the hypothesis of the effect of the moon's qualities (new and full moon، first and third squares) on the volatility and number of transactions is accepted، and the hypothesis of the effect of the position on the moon in the sign zodiac of house and detriment sign for the volume and exaltation and fall sign for volatility transactions is accepted.