WallStreetWeather.net Forecast For Week Of August 3, 2009
Summary Of Last Week’s Influences:
The DJIA gained 725 points in July, its best monthly performance since October 2002. The S&P500 experienced its best five months since 1938, and on Thursday was just shy of reaching 1000. The NASDAQ reached 2009.81 intraday Thursday, gaining 7.8% in July. Yet the indices barely gained for the week.
Mercury’s opposition to Jupiter and Neptune did result in “outsized moves” in both directions in crude oil which closed just below $70/barrel.
Since Newsweek proclaimed the “Recession is Over,” Wall Street shifted its focus to Washington. Gemini rules motor vehicles, and Venus (spending) and Mars (action) in Gemini brought a surge in buyers eager to trade in their clunkers. The $1 billion in the government’s “Cash For Clunkers” program ran out at midnight on Thursday, and by 1:22 PM Friday the House (316-109) had approved an additional $2 billion for the program.
Cash For Clunkers is a lot like our current healthcare system: some people benefit, millions do not, and most do not realize the risks of our current system. The House Energy & Commerce Committee 31-28 passed their healthcare reform bill at 9:05 PM Friday. All the Republicans and five Blue Dog Democrats on the committee voted against the bill. The dirty little secret of the “free market” Republicans and Blue Dog Democrats is that if it wasn’t for the government through its regulation of employer sponsored healthcare, Medicare and Medicaid, the current system would not have survived.
Summary Of This Week’s Influences:
Wednesday’s Solar Eclipse in Aquarius marks the end of the current eclipse cycle until the Blue Moon* Lunar Eclipse on New Year’s Eve. As Jupiter and Neptune move further apart from their spring and summer pairing and Saturn and Uranus begin to approach their mid-September opposition, financial markets are likely to become more cautious and volatile.
Mercury is in its “home” sign Virgo August 2 to August 25. The planetary energy of communication in the sign of the bookkeeper emphasizes accountability, reviewing all the fine print and the numbers behind the numbers. Thoughts and communications center on work issues and healthcare. Mercury harmonizing with Pluto in Capricorn on Monday could bring forward information previously hidden or overlooked. There will be a second opportunity to dissect and perfect work in process now between September 17 to October 9 when Mercury returns to Virgo, due to Mercury retrograde from September 7 to 29.**
The big economic event this week is Friday’s Employment Report for July. Consensus estimates are for a loss of 333,000 jobs and the Unemployment Rate moving slightly higher to 9.6%. Mars challenging Saturn (exact August 10) reflects that jobs and hours worked continue to be reduced.
Monday, August 3, 2009
Positive, then weakens in late morning to choppy/mixed to negative before improving in afternoon.
Tuesday, August 4, 2009
Positive early, then starts losing momentum and becomes choppy/mixed to moderately up.
Wednesday, August 5, 2009
Negative; but starts improving to choppy/mixed by early afternoon. Market strongest going into the close.
Thursday, August 6, 2009
Positive, then weakens to choppy/mixed. Improves again around midday/early afternoon, then weakens and turns negative going into the close.
Friday, August 7, 2009
Volatile; negative bias.
*Two Full Moons in the same month.
**Planets do not really move backward but appear to from Earth’s vantage point.
Posted 8/02/2009 06:04:00 PM