Susan Gidel says next week will be full of bold ideas, as well as a low in crude oil and a high in T-notes on Wednesday.

The zodiac sign of Leo is in the spotlight all week, bringing with it strong leaders and bold ideas. Expect a positive, enthusiastic vibe throughout the four days of the Democratic convention as a result.

Monday kicks off with a 13-hour period in which the Mercury and Sun are so close together in Leo that it is easy for flashes of brilliance to simply pop into your head. Pay attention. The New Moon in Leo occurs late Tuesday night and supports new ideas and intentions that are brave and bold. On Wednesday night, Mercury moves into its ruling sign of Virgo, where it is extremely able to dot it’s and cross t’s as it concerns the details of the week’s grand plans.

  • Crude Oil low on Wednesday, Aug. 19: One of the signatures of market lows—planets in position to form a Grand Trine with crude oil’s first-trade Mars and Neptune—occurs with the Sun, Moon and Mercury all moving into that spot. What makes this day especially powerful is that transiting Mars is exactly aligned with the market’s natal Mars, which could provide a real boost in volume. In the September contract, look for support at the planetary price conversion levels of $42.33 per barrel, $41.72, and $40.30.
  • 10-year Treasury note high on Wednesday, Aug. 19: The Sun, Moon and Mercury in the sky are at right angles to one of this market’s two critical axes—Mercury and Uranus. Simultaneously, transiting Sun, Mercury and Mars form a Grand Trine with the market’s first-trade Neptune, which creates dissolving ease, as in prices. September contract prices remain in a wide band of planetary price conversions between 136-08 and 143-08.
  • Soybean low on Thursday, Aug. 20: The transiting Moon activates the soybean market’s first-trade Grand Square that contains oppositions between Neptune/Saturn and Moon/Jupiter. Adding to the pressure vibe is that Mars is square to first-trade Pluto. The Sun and Mercury are aligned with the market’s first-trade Mars to stimulate trading volume. Transiting Venus is at a 90-degree angle to the market’s first-trade Sun, suggesting downward pressure, while also in an easy aspect to the market’s first-trade Venus, which is supportive. Transiting Jupiter trine natal Neptune also is supportive. But, the energy of the squares prevails. Look for potential support in November beans at the planetary conversion levels of $8.87 per bu. and $8.73-$8.75.

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

Pretty Darn Good

  • S&P 500 high on Thursday, Aug. 6: The S&P 500 closed near the high of its 33-point range, at 3349. The next day’s trade saw the index make a high 1 point higher and closed 2 points higher.
  • S&P 500 high on Tuesday, Aug. 11: The S&P 500 posted one of its biggest ranges since mid-July, at 55 points, with a close near the lows. The market’s high of 3381 was just beyond the significant planetary price conversion resistance level of 3370, with the close at 3333.

Off the Mark

  • Soybean high on Thursday, Aug. 6: This day’s action was in the middle of a high on Aug. 3 at $8.99 ¾ per bu., basis November, and a low on August 10 at $8.65 ¼.

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.