WallStreetWeather.net Forecast For Week Of May 10, 2010

Summary Of Last Week’s Influences:
Last Sunday the EU and IMF agreed to a three year $145 billion aid package for Greece in exchange for the Greek government adopting various austerity measures. One week later EU finance ministers are meeting in Brussels to agree to a stabilization package of loan guarantees for Greece worth an estimated $560 billion and would expand the IMF’s aid to $140 billion “before Asia opens.”

Reruns that remind us of past issues is standard operating procedure when Mercury is retrograde. Some view the situation in Greece creating a domino effect similar to the contagion that spread through Wall St. in the fall of 2008.

Mercury was retrograde when then Treasury Secretary Hank Paulson who operated under the mantra “before Asia opens” was trying to calm the markets by getting Congress to pass the TARP. Mercury was retrograde in Libra, a sign ruled by Venus. Now Mercury is retrograde in Venus’ other sign, Taurus. Venus rules money and banks; in both instances the concern is what banks are holding (Greek debt now vs. mortgages then). And now in what would be the equivalent of insuring subprime CDOs, EU finance ministers are reported to be working out a proposal to insure each other’s sovereign debt.

While Mercury retrograde can be a favorable time to do certain things (see above links), holding a presidential or parliamentary election is not one of them. Maybe Gordon Brown believed calling an election for May 6 would help him get re-elected. However, another way of viewing it is that Mercury retrograde can signify a return of the previous party in power. As the U.S. learned in the 2000 election, Mercury retrograde creates confusion.

The last election that lead to a hung parliament in the UK was on February 28, 1974. Mercury was retrograde then and Saturn was in Mercury-ruled Gemini which is exactly squaring where Saturn in Mercury-ruled Virgo is now. At that time the out of power Labour party won the most seats but not enough for a majority. Conservative PM Edward Heath resigned after failing to reach a coalition agreement with the Liberals. Labour party leader Harold Wilson became PM, and called for a second election on October 10, with Labour winning a slim majority.

Saturn rules government, and Uranus seeks to shake up business as usual. Saturn and Uranus first opposed each other the day Barack Obama was elected president. Saturn and Uranus were in exact opposition for the fourth time April 26. Like Obama, the Conservative and Liberal Democrats campaigned on “change.” And like the US presidential election, the leaders of the Conservatives and Lib Dem parties are young (Uranus) vs. the older and politically seasoned incumbent (Saturn). Cameron and Clegg were born three months apart the last time Saturn opposed Uranus in the mid-1960s.

Just as comparisons have been made between the financial crisis and the Great Depression, there are planetary parallels as well. On August 24, 1931, a coalition (National) government was formed between Britain’s major political parties. Saturn, Uranus, and Pluto were forming challenging alignments to one other in cardinal (action) signs, just as they are for the first time now. Mars was in Libra then (which is where it was in fall 2008 and where it will be this summer). Like then, these influences could motivate the parties to reach agreement to work together to maintain economic confidence.

David Cameron was born with the Sun (self-identity, leadership) conjoining Venus (partnerships) in Libra. His success in everything he does in life depends upon his ability to reach out and forge cooperative alliances with others. Mars in Libra at the time of the 1931 coalition conjoins Cameron’s natal Sun, reflecting that he has to actively bridge the divide that exists between the parties if his party is to lead.

The planetary influences I’ve outlined here are described in greater detail in my post on the planetary influences surrounding last Thursday’s record point plunge. Last Friday’s April nonfarm payrolls increased 290,000 – the fourth consecutive monthly increase and the largest gain since March 2006. There were more job gains than originally reported in February and March as well. The official unemployment rate increased to 9.9% as more unemployed people returned to looking for work. The markets initially reacted positively to the news before returning to concerns about Greece, which goes back to my theory that as Wall St. declines this summer, conditions on Main St. will continue to gradually improve.

Summary Of This Week’s Influences:
Financial matters in one form or another will continue to dominate the news this week as Mercury turns direct on Tuesday after being retrograde since April 17, and the Taurus New Moon occurs on Thursday evening.

On Monday aspects involving the Sun, Mars, and Pluto together with the Moon in Mars-ruled Aries (through Tuesday) motivate world leaders (Sun) to quickly take action (Mars) regarding sovereign debt (Pluto). Aries energy is fast and impulsive, believing that any action is better than doing nothing.

These energies also relate to Congress taking action regarding certain trading practices. In keeping with my description about Aries energy being impatient, on Tuesday the House Financial Services Subcommittee will hold a hearing into what caused the market to plunge Thursday even though an investigation has not yet been completed.

Transits to the USA’s Mars/Neptune square have brought major financial and military-related events. Although more benevolent in nature than other alignments, Venus in Gemini conjoining the USA’s natal Mars and squaring natal Neptune Wednesday and Thursday could bring volatile intraday gyrations. Mars is fires and Neptune rules oil. On Wednesday the House Energy & Commerce Subcommittee will hold a hearing on the Deepwater Horizon oil rig explosion.

Coinciding with the Moon in Taurus Wednesday and Thursday leading up to the New Moon, this influence could also relate to the Senate voting on various amendments as part of the overall financial reform legislation. Venus conjoining the USA’s Mars in Gemini in the sector representing agreements could mean that the Senate passes the compromised amendment to audit the Federal Reserve wih the exception of monetary policy.

Monday, May 10, 2010
Strong Mars energy today can be volatile with rapid buying or selling. Positive bias but volatile gyrations intraday. Merger speculation could surface.

Tuesday, May 11, 2010
Choppy/mixed to positive trend bias.

Wednesday, May 12, 2010
Negative bias, but could stage a late day reversal and close mixed to slightly up.

Thursday, May 13, 2010
Negative, but improves at the close.

Friday, May 14, 2010
Positive.

Gordon Brown: February 20, 1951 8:40 AM Glasgow, Scotland
David Cameron: October 9, 1966 6:00 AM London
Nick Clegg: January 7, 1967 time unknown Chalfont St. Giles, England

On a personal note regarding Mercury retrograde, my internet connection has alternated between being sporadic to down this evening.

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