Thursday, April 3, 2008

Commodities firm up

Not much movement in New York today, as the markets closed up slightly. My guess was for a mostly flat day and that's what we got. Transiting Moon conjoins Venus in Pisces in the 11th house of the S&P chart tomorrow so there will be some bullish sentiment out there supporting the market. We could see a a significant up day (>1%) if the market is up on the open. I will be watching the effects of the Pisces ingress of Moon shortly after 10. If it's up already by then, then it will likely move higher by the close.

Tokyo investors look like they are taking some profits in early Friday trading. We should still finish above 13k on the Nikkei for the week, however. The BSE closed mostly flat Thursday at 15, 832. The market opens with the Moon in exact trine to the natal Sun in the 1875 chart. I would look for a gain Friday.

The Euro was pretty solid at 1.566, but did not move higher at all. Tomorrow should be a bigger up day as the Moon moves towards the natal Jupiter. Let's see if we can hit $1.58 again.

Oil held firm near $104 as we thought it might. I think we should see some retreat in oil on Friday, especially in the afternoon EDT. If the negative trend is established early before the Moon moves into sidereal Pisces (at 10 a.m), then we may drop below $102, perhaps well below. If the open isn't too bad, then the decline will be more modest.

As predicted, Gold made a small gain to $908. I think it's due for another decline however as the transiting Sun comes under the square aspect from natal Saturn in the futures chart. If this aspect really kicks in, we could be back under $900 by the close.