The stars are forecasting lows in crude oil  and the euro, and highs in soybeans and the S&P 500 on Monday, notes Susan Gidel.

Saturn, the zodiac’s taskmaster, is in the spotlight this week in ways that urge review and purging, particularly of worn-out structures and organization. On Monday, Saturn turns retrograde in motion, through Sept. 18, joining Jupiter and Pluto.

All three planets—each with connections to the economy—now appear to be moving backward in the sky, and all three are not operating at their peak powers. These three planets remain retrograde together through Aug. 10, a period in which there will be a focus on reviewing economic expansion (Jupiter), contraction (Saturn) and debt (Pluto), which could make it difficult for the stock market to rally this summer.

On Tuesday, Saturn is exactly aligned with the Moon’s South Node for the first of three such connections by the end of September. Pluto made a similar connection with the South Node on April 4. The South Node represents that which is an unnecessary drag on forward progress, so the alignment with Pluto and Saturn urge a purging of what is no longer useful. In Capricorn, the focus is on business and government structures and operations.

The trading week gets off to a quick start on Monday, April 29, with four markets in astrological positions that could mark changes in trend. Be on the lookout for lows in crude oil and Euro FX, while soybeans and the S&P 500 could be making highs. On Thursday, May 2, gold could be setting a low.

Monday, April 29

  • Low in Crude oil: The two major first-trade horoscope planets activated at price lows, the Sun and Mars, are both seeing action from the benefic planets on Monday that could support a price rise, i.e., establish a low. Transiting Venus is aligned with the first-trade Sun, and transiting Jupiter is in an easy, 120-degree aspect to Mars. Prices are between two areas of neighboring support/resistance areas defined by converting the first-trade horoscope planetary positions into prices. Support in nearby June is at $62.30 to $62.90, with the next serious resistance at $68.80.   
  • Low in Euro FX: The major north/south axis of the first-trade horoscope for euro futures, an important axis at times of major lows, is being hit by the transiting Mars/Jupiter opposition. Also, transiting Mercury is aligned with the most important planet to watch in the first-trade euro horoscope — Venus. A bonus transit is that the Sun is aligned with the first-trade Mercury. There is good planetary price conversion support in nearby June at $1.117; the next planetary price support lower is at $1.107. Resistance is in the $1.136 to $1.138 area.
  • High in soybeans: The two main axes in the first-trade horoscope chart for soybean futures are closely activated, indicating a potential high. First, transiting Mars and transiting Jupiter are opposite one another, with each planet conjunct a first-trade planet—the Moon and Jupiter, respectively. Second, the transiting Sun at 08 Taurus is aligned with the first-trade Uranus/Venus axis at that degree. For a little extra oomph, transiting Venus is opposite the first-trade Sun. Upside resistance from planetary price conversions is at $8.87 per bu., then $9.03 to $9.12. Support is at $8.73 to $8.75.
  • High in S&P 500: Transiting Venus and Mercury are aligned with the position of the Moon at the S&P 500 index launch in 1957, which can indicate a potential high in the stock market. In addition, the transiting Moon is aligned with both the Sun and Venus in the 1957 launch chart, another indicator at previous highs. The S&P 500 has shown considerable resistance at 2940, the all-time high from September 2018 that withstood two tests on April 23-24. The level 2944 is the planetary price conversion of the S&P 500 cash index ascendant, the zodiac position on the eastern horizon when the index was launched. The next resistance area is 3010-3011, where conversion prices from the cash index and the two futures contracts converge.

Thursday, May 2

  • Low in gold: The planets Venus and the Sun in the first-trade horoscope chart of gold futures are often activated by transiting planets at times of price lows. On May 2, transiting Mercury is at a 90-degree angle to that Venus, while the transiting Sun is in an easy-going 120-degree aspect with the first-trade Sun. Also, transiting Mars is 150 degrees away from first-trade Venus, an uncomfortable angle that could spur price activity. The Pluto price conversion of $1,291 per oz. remains solid support. Upside resistance is at $1,328 to $1,334.

Last Week’s Scorecard (through Thursday’s close)

Bullseye!

  • Low in S&P 500 on Monday, April 22: The S&P 500 set a low for the week (through Thursday) of 2896.35, setting the stage for two failed attempts to breach the all-time high of 2940.91 on Tuesday and Wednesday, with highs at 2936 and change each day. The planetary price conversion of the S&P 500 index launch horoscope’s ascendant is at 2944.

Pretty Darn Good

  • Low in Gold on Monday, April 22: June gold made a low on Tuesday, April 23 at $1,267.90, but closed that day at $1,273.20, above support at Pluto’s planetary price conversion of $1,269. Prices rallied to $1,284.80 by Thursday.

The position of planets in the sky as they relate to their positions when a market first began trading can provide clues to potential trend changes. The energy is strongest on the days noted in this post, but it is not unusual for the effect to be seen a day or two either side. See “Market Analysis with Astrology” for further information. Susan Gidel, editor of the Red Letter Trading Days newsletter.