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New Year Starts with a Bang
01/03/2020 11:28 am EST
Full lunar eclipse could be good omen for markets and a high in gold, writes Susan Gidel.
The first full trading week of the New Year ends with a bang on Friday, Jan.10. A Full Moon/Lunar Eclipse occurs at 2:21 p.m. EST and is related to the New Moon/Solar Eclipse of Dec. 26. In late December, the stock market rallied to record highs on three of four days during Christmas week on positive news concerning a U.S.-China trade deal. That news could once again be in the headlines at the second eclipse, perhaps with the promised signing on the eclipse day.
Friday, Jan. 10 also sees the Sun and Mercury conjunct in Capricorn at 10:19 a.m. EST, which portends measured, rational pronouncements from leaders. Be on alert for “aha” ideas from 10:57 p.m. on Thursday through 7:27 p.m. Friday, when Mercury is supercharged because of how close it is to the center of the Sun.
Tuesday, January 7 and Friday, January 10
- High in Gold: Either of these days has planets in the sky connecting with the important trend-changing suspects in the gold first-trade chart, i.e., the Sun, Mercury and Venus. On both days: (1) transiting Jupiter is conjunct the market’s first-trade Sun; (2) the transiting Sun and Mercury are conjunct first-trade Mercury; and (3) transiting Saturn and Pluto are conjunct first-trade Venus.
The difference between the two days mainly concerns the position of the transiting Moon. On Tuesday, the Moon is at the bottom of the gold market’s horoscope, about to cross a major axis. On Friday, the Moon is opposite both first-trade Mercury and first-trade Venus, which is a stronger position. In addition, the Sun and Mercury have moved enough to be conjunct both Venus and Mercury.
Either day has earmarks of a potential high, but Friday is a tad stronger. Three more days in January have setups for potential highs as well—Jan. 13, Jan. 24 and Jan. 28. Of all the dates in January, Monday, Jan. 13 has the strongest planetary setup.
Last Week’s Scorecard (through Thursday’s close)
Pretty Darn Good
- High in Euro FX on Friday, Dec. 27: March futures rallied big, from a low of 1.11590 to a high of 1.12465. The contract peaked two trading days later, on Dec. 31, at 1.12930.
- High in Gold on Tuesday, Dec. 31: Gold futures broke through resistance at $1,520 per oz., hitting a high of $1,529. Prices continued to rally in the new year, reaching $1,534 on Jan. 2.
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 backgrounder “Market Analysis with Astrology” for further information.
Susan Gidel is editor of the Red Letter Trading Days newsletter.
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