Summary Of Last Week’s Influences:
Events in the Eurozone largely overshadowed most other market events last week. (See “Lehman’s Harvest Moon Returns to Haunt the U.S. Through the Eurozone”)
As described in the prior week’s Forecast, the energies of Pluto in Capricorn are more pronounced September 12-21 as Pluto from Earth’s vantage point appears stationary in the sky as it turned direct September 16. Pluto in Capricorn rules sovereign debt which is one of the reasons that the Eurozone crisis has become more intense now. I wrote last week that merger activity could occur over the weekend. This actually occurred on Friday over speculation that United Technologies (UTX) might make a double digit acquisition in the aerospace industry (Goodrich) that it would need to obtain financing to do.
Pluto rules death and matters related to the deceased. On Tuesday the FDIC ruled that the nation’s largest banks must submit living wills by July 1, 2012.
Pluto rules insurance and matters of life and death which seems to be an obsession with the Republican candidates. In the first week’s GOP presidential debate, Gov. Rick Perry was practically gleeful that he signed off on so many executions in Texas. At last Monday evening’s debate, the other candidates stood by speechless while Rep. Ron Paul alluded that a person without health insurance should be allowed to die. Which caused the Tea Party audience to break out in a chorus of “let him die!” (So much for the GOP's midterm election campaign mantra to “repeal and replace”!)
If Republicans cared as much for the born as the unborn, every American would have health insurance.
Rep. Paul said he would have advised the person “to have a major medical policy.” But as Paul Krugman states in his succinct New York Times op-ed, there are people who cannot obtain health insurance at any price because they have “chronic conditions.” What even Krugman fails to mention and the politicians and the public don’t seem to understand is that healthy individuals are frequently rejected by health insurance companies for potential risks that may never occur in their lifetime.
Rep. Paul is a medical doctor. In the previous GOP debate, Dr. Paul thought it would be perfectly fine to bring drugs to market without having undergone testing and the regulatory approval process. Rep. Paul believes that the uninsured should be put in the demeaning state of begging for charity from churches when they get sick. In Rep. Paul’s fantasy world, it is the churches who will determine who will live and who will die. Religions of all stripes were either active in lobbying to block healthcare reform or stayed silent on the issue (which shows you how much “compassion” they possess).
There must be something in the water (or lack thereof) down in Texas since Ron Paul is not the only candidate emanating from there preaching hypocrisy. Gov. Rick Perry (like all the GOP candidates) believes it’s unconstitutional to mandate individuals purchase health insurance. Yet he thought it was perfectly fine to issue an Executive Order mandating that parents in Texas vaccinate their teenage daughters with Merck’s Gardasil, an expensive, risky and unneeded vaccine. In an exchange over the Gardasil issue with Rep. Michele Bachmann, Perry came off as proudly stating that as the receipient of $30 million in campaign contributions it would cost more than a $5,000 from Merck to buy his influence.
As governor of Massachusetts, Mitt Romney enacted healthcare legislation that mandates every person in Massachusetts obtain healthcare coverage or pay a penalty. Yet presidential candidate Romney believes individuals are free to die in every state except Massachusetts! Former Utah governor John Huntsman touts he set up an exchange to help residents in his state obtain health insurance. But what he doesn’t say is that the exchange is only open to businesses while individuals are free to die.
Summary Of This Week’s Influences:
Even though Pluto turned direct on Friday, its energies are particularly pronounced through Wednesday as it still appears to be motionless in the sky from Earth’s vantage point.
Mercury in Virgo and Venus in Libra in their home signs until September 25 indicate a market looking to latch onto any piece of information that could be construed as positive.
Tuesday’s Last Quarter Moon at 9:39 AM EDT in Mercury-ruled Gemini further reinforces sentiment solely focused on making money trading the news. In the chart set for Washington DC, market volatility is likely to rise as feelings of hope erode leading up to the September 27 Libra New Moon. The Sun in Virgo in harmony to the NYSE’s natal Sun in Taurus could help keep stocks higher than they would otherwise be. Virgo rules employment and the armed services. Both will be in the news as President Obama aggressively promotes his American Jobs Act to Congress. Mars ruling the sector representing employment in a harmonious alignment to Uranus in Aries (the sign ruled by Mars), could indicate an increase in manufacturing, engineering and tech jobs.
Now there will be three planets in their home signs during the time the Moon is in Cancer from Tuesday at 2:53 PM until Thursday at 9:22 PM.(1) On Wednesday, concerns over the Eurozone and anticipating what’s in the FOMC announcement could prompt investors to seek shelter in U.S. Treasuries and “safer” investments.
Pluto rules interest rates and debt; Pluto in Capricorn specifically rules sovereign debt. While few believe at this point the Fed would engage in a third round of quantitative easing, many anticipate the Fed will revive the Twist. This notion really took off when Mercury was retrograde. (See “Federal Reserve Surprises as Mars squares Uranus”) The Fed’s announcement that it was “likely” to maintain the Fed Funds Rate until mid-2013 was announced when Mercury was retrograde opposing Neptune, the planet of confusion and illusions. This increases the possibility the Fed is not “likely”to keep its commitment.
Back in April I wrote that the Fed would begin to reverse the overly accommodative policies it first put in place during the 2008 financial crisis. The transits of Saturn, Uranus, and Pluto to the Fed’s natal chart indicate the Fed has reached the limit of what it can do without overflowing the bathtub.
Uranus brings reversals, unexpected and unusual events, and initiating actions that haven’t been done before (Uranus in pioneering Aries). QE3 and Twisting wouldn’t qualify. Fed Chairman Bernanke’s progressed Sun and Venus are conjoined in Uranus-ruled Aquarius. If the Fed does anything, it will be something completely new and different. Uranus is the rebel and non-conformist. Since the market expects the Fed will do something, doing nothing would take the market by surprise.
The luminaries shift signs before the market opens Friday. The Moon moves into Leo the sign of the Sun which rules speculation, Thursday at 9:55 PM (until Sunday at 3:47 PM). Autumn arrives in the northern hemisphere Friday at 5:05 AM when the Sun enters Libra until October 23. (More on the Autumnal Equinox in a separate post that will appear on the blog by Friday morning.) Like the Summer Solstice Forecast, the post will include dates that the market could experience large moves. Friday, September 23 and Monday, September 26 will be on the list.
Unexpected shocks and reversals could occur over the weekend as the Sun opposing Uranus (exact Sunday evening) indicates that Uranus is currently at its closest approach to Earth this year. Whenever the energies of Uranus are pronounced, the market is not going to behave in the way you expect it to. Reversals, heightened volatility, wild gyrations and record breaking moves that breach support and resistance levels describe how the energies of Uranus influence financial markets.
The Moon enters Mercury-ruled Virgo Sunday as Mercury enters Libra Sunday evening until October 13. Once the Moon enters Libra Tuesday, half of the planets will be in Libra. It’s time to collaborate, cooperate, and get things back in balance. The market has been so myopically focused on Europe that it seems to have forgotten the fiscal issues looming at home. Friday, September 30 marks the end of the federal government’s 2011 fiscal year budget as the 2012 FY budget has yet to be approved.
Tuesday, September 20, 2011
Improving conditions as the day progresses.
Wednesday, September 21, 2011
Thursday, September 22, 2011
Reverses to positive.
Friday, September 23, 2011
Monday, September 26, 2011