WallStreetWeather.net Forecast For Week Of November 8, 2009
Summary Of Last Week’s Influences:
Due to last week’s employment report morphing into a separate post describing the longer term economic outlook, I must forego this section today.
Summary Of This Week’s Influences:
This week is light on economic reports until the end of the week. Wednesday is Veteran’s Day; the stock market will be open but the bond market will be closed. $81 billion in Treasuries will be auctioned this week, with $25 billion in 10 year notes Tuesday and $16 billion in 30 year bonds Thursday. This is the last auction of these maturities this year.
Saturn tends to move slowly and can delay. So it’s not surprising that with Saturn challenging Pluto (debt) now, that the Treasury will replace sales of its 20 year TIP with a 30 year issue beginning in February.
The Sun and Mercury are the most active planetary players, as both continue their transit in Scorpio this week. The Sun challenges Jupiter on Tuesday, which can create inflated and unrealistic expectations. There’s a tendency to be overoptimistic and over commit and overpay. Scorpio and its planetary ruler Pluto expose what has been kept hidden, and Jupiter tends to exaggerate and blow things out of proportion. With Jupiter in Aquarius this year, the “shock value” has been to the extreme.
Wednesdays are ruled by Mercury (communication/movement), and Mercury will harmonize with Uranus which is good for coming up with new ideas and new insights on existing matters. Together with Mercury challenging Neptune, it’s better to pay more intention to your intuition than hard data even though the Moon (emotional barometer) will be in Mercury-ruled Virgo. Avoid signing contractual agreements.
Saturn challenging Pluto is particularly strong right now as this alignment will become exact on November 15, one day before the Scorpio New Moon. I will be writing more about Saturn/Pluto during the week.
The combination of the Sun challenging Jupiter and Mercury challenging Neptune Tuesday/Wednesday could bring currency shifts and big moves in oil. Choppy conditions take the market downward as the week progresses when it becomes less likely the indices will be able to meet/surpass their mid-October 2009 highs.
Monday, November 9, 2009
Indices choppy/mixed to positive; strongest midday/early afternoon. Loses momentum going into the close.
Tuesday, November 10, 2009
Could see large moves in either or both directions. Negative, but improves to positive as day progresses. Weakens to close choppy/mixed with Dow faring best.
Wednesday, November 11, 2009
Choppy and volatile as morning upswing weakens and turns negative.
Thursday, November 12, 2009
Choppy/mixed to mostly positive trend bias.
Friday, November 13, 2009
Strongest early, then choppy/mixed before turning negative.
Posted 11/08/2009 08:40:00 PM