Another day, another new high for the Euro, oil and gold as the US dollar continues to plumb the depths in anticipation of further rate cuts from the Fed.
New York markets finished flat as the Dow inched up just 9 pts and the S&P closed down 1. This is in keeping with the middling sentiment I expressed in yesterday's forecast. The market caution I had forecast finally arrived in Bombay as the Sensex finished down, albeit only marginally. I missed on Tokyo as it stayed mostly positive finishing just above 14,000. I believe the fears over the US recession will hit these markets tomorrow more forcefully.
Oil did hit $102 as predicted, although it quickly fell back to $99. I am expecting further declines tomorrow.
Gold powered ever higher to finish at $958 up $10. I missed this move but I still feel that gold is due to fall back to earth Thursday and Friday.
The Euro soared past 1.51, closing at 1.5122. A stunning run that no doubt owes a lot to the Mercury-Venus conjunction activating the natal Uranus in the Euro natal chart. It's past exact now, so I think the rally will run out of steam tomorrow and likely into Friday. I'm expecting the sell-off to be sharp Thursday, possibly taking us back under 1.50 at least temporarily.
