Elements & Qualities
So, I ask, what are we to do with elemental and quality balance? Adding up "planets" (astrological bodies and sometimes angles) to see which element (Fire, Earth, Air or Water) or quality (Cardinal, Fixed, Mutable) combination is most pronounced is a method that some/many use when first looking at a chart. This process is valued by some, mostly discounted by others.
Part of the problem relates to what you count as appropriate "planets." As Minderwiz notes, you can count the "lights" as having double value. You can use or not use the ASC and MC angles and/or the Moon's North Node. You can also split a "planet's" value if it is close to a sign's cusp. In my opinion it makes little difference what approach, what combination you use. Why? The value of element/quality balance assessment lies in the "focus" it provides you when starting the actual process of finding stronger or weaker planets and aspects as a basis for building an interpretation.
For example, depending upon your chosen approach you may end up looking at element/quality balance in Martha Stewart's chart as being Fire/Mutable or Fire/Fixed -- Sag or Leo. In this particular case both the signs hold one of the "lights" (Sun and Moon) of the chart. So, one would keep in mind that a good place to start one's in-depth assessment of this chart would be considering how the Sun and Moon are integrated, how the 10th and 2nd houses (with Leo and Sag on the cusps) play a key role in Martha's chart.
Now, it doesn't stop there. Some have mentioned that there is a "lack" or weakness in some element/quality areas. Water and Air or weak, Cardinal qualities are not emphasised or balanced. Does this mean Cancer and Libra are weak. No, although there is only Mercury in one of these signs (Cancer). Once we get into this chart we may find that planetary dynamics or other factors suggest a substitute for this seeming lack -- may even over compensate and make those signs highly significant and their related planets stronger. We can already see that the Moon, ruler of Cancer, is the handle of the bucket pattern and that Venus (ruler of Libra) has some significant aspects of its own. So, its possible that the planet aspect patterns can be used to fill a void here. More on this later. Just be aware that a seeming lack in one area is often counterbalanced or compensated for in some way. That's life. Dave.