Sunday, February 10, 2008

Market Forecast: week of Feb 11-15

The markets aren't likely to breakout of their current range this week. In New York, the early part of the week looks uncommitted, with minimal testing on the downside and modest rally attempts. I don't foresee the indices falling through current support levels, however. Expect to see a decent rally near the close Monday. With a broader rally starting by late Wednesday or early Thursday, we may see highs above 12,500 on the Dow and perhaps 1360-1380 on the S&P. I am forecasting a generally up week.

The Japanese market looks pretty uninspired this week, although Thursday and Friday should see some gains as tr. Venus conjoins the natal Moon and trines Jupiter. But the general planetary architecture suggests any rallies won't get too far. I expect the market to move between 12.8K and 13.5K with the latter figure representing a target for the Friday close. Next week's Mercury station squares the natal Saturn in the natal chart, so we can look for lows to punch through the 13K support level then and test the January lows of 12.6K.

Bombay will follow the basic trend of negative to even start to the week (Monday looks the worst) and then look for an move upward Wednesday by midday. Thursday looks positive with a possibility of some profit taking Friday.

Euro will start the week continuing its recent fall against the greenback. It may fall as low as 1.44. Wednesday there will be a turnaround rally that stretches into Thursday, so we can expect to see it back above 1.45 at least. Thursday morning EST appears to be a high. Friday may be a day of consolidation.

Gold will open the week strong with a decent gain as Venus returns to its natal position. But the rest of week looks indifferent with tr. Mercury falling under Ketu's aspect, so a pullback below $900 is possible.