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S&P 500 to Set a High on Tuesday
08/07/2020 9:42 am EST
Tension in the Cosmos will make for a difficult week but look for a high in the S&P on Tuesday, reports Susan Gidel.
Only two trading days this week feature any kind of cosmic energy moving and shaking, but both are difficult. The first is on Monday, Aug. 10 when Mercury and Uranus form a right angle to one another in the sky. This could generate unusual ideas or communications, particularly as it concerns money or security.
The second, and more formidable, transit is the square between Mars and Pluto on Thursday, Aug. 13. Mars is an aggressive planet and strong in its ruling sign of Aries. It is going up against Pluto in Capricorn, which has been entrenched since 2008 in transforming business and government. At the very least, be on alert for news of anger and trying to push through one’s agenda about such transformation.
What’s more, Mars and Pluto rule epidemics, so their square could indicate a setback in the fight against coronavirus. Because Mars will be retrograde in motion for a couple of months this fall, the tension between Mars and Pluto lasts through early November.
- S&P 500 high on Tuesday, Aug. 11: Transiting Venus, the planet that rules money, is in an easy breezy Grand Trine with the market’s first-trade Venus and Neptune. This connection suggests that prices could move without much resistance, either up or down. However, because it is a trine, upward motion is favored. Meanwhile, the Sun and Moon are connected to the S&P 500’s first-trade Mars in a way that suggests a halt. Significant planetary price conversion resistance exists at 3370.
Last Week’s Scorecard (through Thursday’s close)
- Soybean low on Thursday, July 30: November beans bottomed at $8.80 ¼ per bu., then rallied to a high of $8.99 ¾ on Aug. 3.
- Crude Oil high on Wednesday, Aug. 5: September prices peaked at $43.52 per barrel, closing at $42.19, just cents below the planetary price conversion level of $42.23.
Off the Mark
- Euro FX low on Thursday, July 30: The September contract on this day was between a low on July 27 or 1.16550 and a high on July 31 of 1.19195.
- Gold low on Wednesday, Aug. 5: December gold made a low (if you can call it that in this raging bull market) on the previous day at $1982.60 per oz. and closed for the first time above $2000.
For more about the Fed’s horoscope chart and how eclipses affected it in both 2020 and 2001, please see my blog post, “Eclipse Spotlights Fed as Key World Player.”
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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