Some good news on the housing front and a larger bid for Bear Stearns
got the markets going 1.5% higher -- a day earlier than I expected. I
had thought Tuesday would seen a big 2% gain. Contrary to my previous
call for an overall negative week, I think we're headed mostly higher
here. Tomorrow still looks good to me so we may start to run up against
resistance levels at 12,750/1370. I think there's a fair chance we will
break through them at some point in the day, even if we fall back
beneath them at the close. There is a good chance for a major dip in
the afternoon.
It's worth noting that Mercury-Venus conjoined today as Venus
surrendered its leading position to Mercury. This conjunction fell
exactly on the natal Sun in the S&P chart so it's not too surprising
that we went up. It will be interesting to see how much upward karma is
left in both those conjunctions for tomorrow and beyond.
