Although the major indices continued to make gains last week they still have more work to do to return to the 2010 highs made on April 26, the day Saturn in Virgo opposed Uranus in Pisces for the final time. With the exception of the Nasdaq, the Dow and S&P are around where they finished in 2009.
Summary Of This Week’s Influences:
This week’s forecast is going to be brief as I have incorporated most of the planetary influences into part I of my post about the Summer Solstice which occurs Monday at 7:30 AM EDT.
The Moon represents the mood of the market. The Moon in Pluto-ruled Scorpio from Monday until 2:10 PM EDT Wednesday puts the focus on debt and lending, insurance, and M&A. Since Pluto rules wealth that is buried deep underground, previously undisclosed information could be revealed that could reverse current trends.
The Moon in Scorpio leading up to Friday’s opposition between the Sun in Cancer and Pluto in Capricorn followed by Pluto conjoining the Capricorn Lunar Eclipse Saturday coincides with Chancellor of the Exchequer George Osborne announcing his emergency budget Tuesday to attack the UK’s huge budget deficit. The G20 will gather in Toronto over the weekend. The Capricorn Lunar Eclipse and Pluto are opposing the USA’s natal Venus and Jupiter in Cancer, reflecting that while other nations want to tackle their budget deficits, the USA is out of sync with the planetary influences by desiring to pile on the stimulus. President Obama sent a letter to other G20 nations in advance of the weekend meeting, urging them not to withdraw stimulus too quickly.
The mood shifts on Wednesday at 2:10 PM EDT when the Moon enters Jupiter-ruled Sagittarius until Friday evening. Five minutes later the FOMC announcement is released (see the Summer Solstice post).
Fed Vice Chairman Donald Kohn is retiring today. Like Fed Chairman Bernanke, Kohn was born without any planets in the earth element, reflecting their enthusiasm for masking reality with mathematical formulas to justify their doctrine. In an interview in Friday's Wall Street Journal, Kohn said in regard to dealing with bubbles that “the principal way that we have for dealing with these instabilities is through supervision and regulation.” And who was supposed to be regulating the banks?! Kohn had an excuse for that too, saying that “some of the most exposed sectors were either effectively unregulated or not under our purview.” Oh, puleeze!
And if the Senate lets President Obama have his way, Kohn will be replaced by San Francisco Fed president Janet Yellen who might even be more dovish than Ben Bernanke if that were humanly possible! Yes, Yellen was also born with a lack of planets in the earth element. In fact she has a lack of planets in the water element as well, making it difficult for her to fully comprehend how monetary policy really affects consumers.
The numerous planetary alignments described in the Summer Solstice post this week are likely to bring a big increase in volatility, setting up the potential for reversals and large and wild market moves.
Monday, June 21, 2010
The Sun square Uranus in Aries at the Summer Solstice can bring unexpected reversals and choppy and wild swings in direction. Negative trend bias.
Tuesday, June 22, 2010
Negative trend bias; market strongest around midday before falling back into negative territory.
Wednesday, June 23, 2010
The Sun square Jupiter in Aries can bring large moves, most likely to the upside.
Thursday, June 24, 2010
Mercury in Gemini squaring Saturn in Virgo could keep the market confined to a tight trading range. Choppy/mixed, seesawing between moderately negative and moderately positive.
Friday, June 25, 2010
Mercury enters Cancer and squares Uranus in Aries and the Sun opposes Pluto in Capricorn. This can bring wild intraday moves with the market likely selling off going into the close.
Janet Yellen: August 13, 1946 time unknown Brooklyn, NY
USA: July 4, 1776 5:10 PM Philadelphia, PA