Wednesday, February 6, 2008

Good morning, bad afternoon

Just as we thought, that Moon-Jupiter alignment kept prices buoyant in the morning, but the NY markets took on water in the afternoon, finishing about 0.5% down. Support levels held at 12,2000 on the Dow and 1340 on the S&P.

Tomorrow the Sun lines up exactly opposite the natal Uranus suggesting more volatility and heavy volume. The solar eclipse puts an exclamation point there. I think much of the negativity connected with that aspect may have spent itself on Monday however. Still with Venus approaching the equal 6th house cusp, I would think a weak opening is likely with >1% decline possible. The afternoon, however, should see a rally that gets us almost back to where we started.

Let's see if the markets can get through the week without falling through 12K/1320.