A series of solid earnings announcements has put a floor on equities, states Bill Baruch....
Money Planet Venus Vacillates
07/12/2019 9:43 am EST
The stars are calling for a high in gold, and lows in the S&P 500 and 10-year Treasuries next week.
Venus is the planet that rules money, and this week it connects with two planets that put Venus in a tug-of-war. On Wednesday, Venus is opposite Saturn, which likes to restrict, so money could be tight. On Thursday, Venus is trine Neptune, which prefers no boundaries, so money could be easy. This back-and-forth with Venus continues into early the following week.
The other highlight is the Full Moon/Lunar Eclipse on Tuesday, July 16 that could shed light on U.S. trade and the media. This eclipse is related to the New Moon/Solar Eclipse of July 2, both of which carry a theme of excessiveness, young people, and news that transforms. Two weeks ago, at the New Moon, new Federal Reserve nominations sent gold prices up nearly $70; the next day, both the S&P 500 and Dow Jones Industrial Average set a record high and record-high close. Those themes could be revisited at the Full Moon.
Monday, July 15
- High in Gold: The second of three consecutive weekly potential highs in gold, and stronger than the one on July 8, as all three first-trade planets in Capricorn are being activated. Most importantly, transiting Venus is opposite first-trade Mercury, and transiting Sun is opposite first-trade Venus. In addition, the transiting Moon is conjunct the natal Sun. The end-of-cycle planetary price conversion level set by Jupiter is $1,423 per oz., which remains a resistance level, with price exploration beyond that mark, but no closes above it. If August gold break through $1,423, the next price conversion point is $1,508. If $1,423 remains resistance, then $1,401 and $1,372 are the next two critical support areas.
- Low in 10-year Treasury note: The Sun is in play from two angles, as it often is when prices reverse. First, three planets are making aspects to the first-trade Sun at 12 Taurus, including a trine from transiting Moon and Saturn and a square from transiting Mars. Second, the transiting Sun is at a 90-degree angle to both Saturn and Pluto in the first-trade horoscope. If nearby September prices fall through planetary price support at 127-07, then the next support is at 126-00.
- Low in S&P 500: After rallying to new record highs last week, the S&P 500 could set back a bit based on three transits that occur most often at market lows. First, the money planet Venus is trine the S&P 500’s natal Sun.
Second, transiting Mercury is conjunct the market’s natal Uranus. This is the second of Mercury’s conjunctions this summer with Uranus. Because Mercury is retrograde, it could mean it will revisit index levels seen on the first visit of July 2-3, in a range of 2955-2995. Finally, the transiting Sun is at a 90-degree angle to the index’s natal Moon.
The S&P 500 has planetary price conversion resistance at 3003-3010, which stopped its first breach of 3000 with a record high of 3002.98 on July 10. Planetary price support is at 2944.
Last Week’s Scorecard (through Thursday’s close)
Off the Mark
- High in Gold on Monday, July 8: August gold prices made neither a high nor a low. However, the Jupiter price conversion level of $1,423 proved to provide some resistance. Although August gold has penetrated $1,423 on a few occasions, the highest close has been $1,420.90 on July 3.
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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