As forecasted on Sunday, the Euro hit a new record of 1.555 today just
as the Sun conjoined its natal Jupiter. Our bullish forecast on the
Euro has been too conservative perhaps and with ongoing concerns about
the US economy it seems that 1.60 may be only weeks rather than months
away. It seems that medium term top may form in May or June. This
rally has much more to go, perhaps to 1.70 or 1.80.
Oil hit $110 today as our bullish forecast had suggested. Tomorrow
looks like the speculative frenzy will continue perhaps as high as
$112-114 with the biggest gains occurring at the NY open. There will
profit taking after that that may take the price back towards $110.
Gold rose today as forecast although we didn't manage a $10 gain.
Bullion closed at $982 up $8. Tomorrow looks fairly bullish although
gains may be modest. Friday looks better though, as does Monday. It
may put us over the top finally.
NY markets closed moderately lower after yesterday's big gain. As
forecast yesterday we did see an afternoon sell off with the approach of
the Moon-Saturn square and the Dow closed at 12,110 off 46, and the S&P
finished at 1308 down 11. I think we're headed down further from here
for the rest of the week with Monday's lows in the cross hairs. Expect
to see the S&P back around 1280.
Bombay and Tokyo did not fare too well in the wake of the US rally
yesterday. The Sensex was basically unchanged at 16,127 and the Nikkei
closed up 202 at 12,861. Thursday looks mildly bearish so the close may
be under 16k on the BSE while Tokyo will likely experience a significant
decline, possibly down to 12,600 or lower.
