A series of solid earnings announcements has put a floor on equities, states Bill Baruch....
Lows in Gold, Soybeans & 10-year Notes
10/11/2019 9:18 am EST
The stars suggest an aggressive opening to trade next week and lows in gold, soybeans and 10-year Treasury notes, reports Susan Gidel.
The Full Moon in Aries just as Sunday night trading begins could bring an aggressive opening to the week’s trade, particularly if there is news about war or confrontations. In the wee hours of Monday morning, the Sun makes an exact 90-degree angle to Pluto, suggesting that world leaders are having a rough go of it. On Tuesday, it will be easy to articulate a new, humanitarian vision.
Tuesday, Oct. 15
- Low in Soybeans: The important Venus/Uranus axis in the first-trade soybean futures horoscope chart is being activated by both transiting Venus (money) and the Moon (public, emotions). Meanwhile, transiting Mars is highlighting the market’s first-trade Sun and Mercury. Look for a setback from post-crop report highs into the $9.03-$9.12 per bushel zone, basis November.
Wednesday, Oct. 16
- Low in Gold: In the gold futures first-trade horoscope, Venus and the Sun are the planets often activated at a market low, and both are receiving aspects from transiting planets. The transiting Sun is exactly square (90 degrees) to first-trade Venus, while the other luminary—the Moon—is 120 degrees away. Transiting Mars is at a 90-degree aspect with the Sun, and also aligned with the market’s natal Pluto. December gold should find strong support at the end-of-cycle planetary conversion price of $1,423 per oz.
Friday, Oct. 18
- Low in 10-year Treasury note: Transiting Venus and Mercury are both opposite to the Sun’s position in the market’s first-trade horoscope chart, the primary planet in play at market lows. In addition, the transiting Sun is aligned with the market’s first-trade Pluto, ruler of debt, thus putting a spotlight on debt issues. Look for support at the planetary price conversion levels of 129-04 and 128-05 in the December contract.
Last Week’s Scorecard (through Thursday’s close)
Pretty Darn Good
- Low in Crude Oil on Friday, Oct. 4: The market bottomed on Oct. 3 at $50.99 per barrel, with the Oct. 4 low, basis November, at $52.04. By the following Monday, prices had rallied to $54.06.
- High in S&P 500 on Friday, Oct. 4: After a tumultuous early week that saw the S&P 500 decline 137 points in two days from a high on Tuesday at 2992.53 to a low of 2855.96 on Thursday, Oct. 3, the market rallied into Friday to reach 2953.74, a gain of nearly 100 points from the previous day’s low. The following Monday’s high was 2959.73. Thus, the stiff hurdle at 2944 planetary price resistance remained effective. On Tuesday, Oct. 8, the index dropped to 2892.71.
- Low in Euro FX on Monday, Oct. 7: The December contract bottomed at 1.09925 on Tuesday, Oct. 8, near planetary price support at 1.0980; Monday’s low was 1.10145. By Thursday, Oct. 10, the contract rallied to 1.10830.
Off the Mark
- Low in 10-year Treasury note on Monday, Oct. 7: This day marked a high at 131-315 in the December contract, falling to 130-190 by Thursday, Oct. 10.
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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