WallStreetWeather.net Forecast For Week Of May 3, 2010

Summary Of Last Week’s Influences:
Contrary to the daily entries in last week’s Forecast, the stock market tanked on Tuesday, turned positive after Wednesday’s FOMC announcement, and was up all day Thursday. However, the combination of the Sun (speculation) conjoining Mercury retrograde, Venus (money) shifting into Mercury-ruled Gemini, and Saturn in Mercury-ruled Virgo opposing Uranus in Pisces did result in larger market moves and a 30% jump in volatility.

G&G (Greece & Goldman) dominated the financial headlines last week. Due to today’s earlier post on Warren Buffett and Goldman Sachs, this forecast is shorter than usual. As an update to this evolving story, my suspicions that Buffett’s involvement with Goldman extended to Goldman serving as a counterparty to many of Berkshire’s derivatives trades was confirmed after posting this afternoon.

Summary Of This Week’s Influences:
On Monday Mercury retrograde in Taurus will make a repeat performance of its trine to Pluto in Capricorn that first occurred on April 6. The Moon (sentiment) will also return to being in its waning phase in Capricorn. These influences put the focus on sovereign debt and the need to reduce deficit spending.

On April 6 as Neptune (credit; aid) opposed Greece’s Mars in Leo, yields on Greek debt and CDS to insure against default rose after it was reported that the IMF might be cut out of any aid package for Greece. Now the Mercury/Pluto aspect repeats itself and Mercury trines Greece’s progressed* Sun in Virgo and Jupiter in Pisces conjoins the sector of the country’s natal chart representing its reputation.

Greece is expected to receive a $146 billion rescue package, with the bulk of the money coming from other EU member nations. In a reversal from April 6, the IMF will be contributing the remainder of the money. Pisces is ruled by Neptune which conjoins the sector of the chart representing Greece’s workforce which is ruled by Jupiter. As reflected by Greece’s progressed Sun in Virgo and major planetary transits during 2010-11 affecting Greece’s natal planets representing the public, debt, and the nation’s banking system and economy, Greece must make severe cuts to its budget and the government must restructure entitlement programs and beef up tax collection.

Beyond the fact that EU member parliaments will have to vote to approve the measure is that the May 27 Full Moon in Sagittarius conjoins Greece’s natal Neptune and squares its progressed Sun in Virgo. Labor protests and credit concerns are likely to escalate.

Pluto turned retrograde when Mercury last trined Pluto. Capricorn is part of the earth element and Pluto rules wealth extracted from under the surface. This was when the tragic explosion at the Massey Energy mine in WV occurred, and new information could surface relating to this and other news relating to the mining industry.

Monday, May 3, 2010
Positive.
Happy Birthday, Daddy!

Tuesday, May 4, 2010
Positive trend bias, but could experience some wild intraday gyrations.

Wednesday, May 5, 2010
Negative early, then improves to choppy/mixed to positive before turning negative again in the late afternoon.

Thursday, May 6, 2010
Negative.

Friday, May 7, 2010
Positive on strong jobs report, but could reverse on profit taking going into the close.

*A mathematical calculation that moves the planets forward in time as a method of prediction.

Greece: July 24, 1974 4:00 AM EET Athens

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