New York opens trading Monday at 12,606/1370 after last week's gains as we had forecast. I think we're heading lower this week. The New Moon chart is a mixed bag with lagnesh Mars causing problems in the 8th house. On the plus side, Jupiter is reinforcing notions of wealth in the 2nd house. However, there are couple of potential bearish indicators forming this week as Mercury squares Mars, and Sun squares Jupiter, both perfecting on Thursday. On that day, tr Moon is aspected by Rahu, so that's another signal that we may be in for a larger scale decline that day on the order of 1-2%. To complicate matters, tr Venus will be sitting on the 11th cusp of gains in the S&P500 chart on Thursday so that will exercise an offsetting influence to some extent. Alternatively, the Venusian up day may be pushed forward to Friday. Monday and Tuesday may see gains as the Aries Moon falls under the aspect of Jupiter. At this point, I think Wednesday and Thursday will be the most negative. By Friday, I think we'll be under 12,400/1350 with possible weekly intraday lows of 12,200/1330. If Monday and Tuesday are pretty solid up days, then we'll finish Friday closer to the higher 1350 level. If not, then those intraday lows of 1330 may well be closing prices. In any event, I think the market is headed into a more bearish period here over the next couple of weeks, so even if this forecast is a little off this week, the negativity will catch up next week. I am not ruling out a retesting of the winter lows of 11,750/1270. More details later.
Starting Monday at 15,343, Bombay looks like it will have a negative week. Transiting Mars will conjoin the natal Mercury by degree in the BSE 1875 chart which will set off the natal nodes as well. This is most likely to manifest on Wednesday when it is exact. And on that day the tr Moon will square the tr Saturn. This looks like a substantial move to the down side, perhaps on the order of 3-5%. On Thursday, tr Mercury will conjoin the natal Rahu in the 1875 chart so that also does not bode well for the market. Some up days are still possible on Monday, Tuesday and Friday, however, but they don't look that good. To top it off Sunday's New Moon showed Saturn and Ketu as the lowest point in the sky -- a very bearish signal. I'm confident we will be easily below 15k on the Sensex by Friday and down to 14,500 intraday at some point. I would also say that there's a 50-50 chance we will end 500 pts lower on both of those target levels.
Tokyo opens Monday at 13,293, right in line with last week's forecast for a close over 13k on the Nikkei. This is looking like a losing week as Mars falls in the 12th house of the New Moon chart. Monday looks bearish as tr Moon hits the natal Mars in the TSE chart. Wednesday is likely the worst day of the week as tr Mercury opposes Neptune in the TSE chart whilst tr Venus sits on the cusp of the 8th house in the Topix chart. I think we should finish below 13,000 this week, with some intraday lows below 12,500 very possible.
The Euro gamely held onto its relatively lofty levels above 1.57 last week but the picture darkens this week as tr Sun will be caught in the crosshairs of the aspect of natal Mars and then will go on and apply to conjoin the natal Saturn. I think we could see a big fall this week, probably below $1.55 by Friday and perhaps down as low as $1.53 intraday depending on how bad Monday is. If we see the Euro drop by a full cent Monday, then a more bearish outlook is likely for the week. Next week looks even worse for the Euro. The US dollar is coming back with a vengeance.
Oil starts the week above $106 after last week's gains. I think we should finish the week at or above these levels, between $105-108. The early part of the week looks best as the Moon conjoins the natal Venus on Monday and tr Mercury comes under Jupiter's benefic influence. There is the possibility that some of the bullish patterns on Tuesday and Wednesday may negated by tr Mars' square to Mercury. At this point, it seems that gains will be limited to less than 1% on each these days but I admit there is a chance we could move lower, albeit not by much.
Gold opens at $913 after last week's sharp sell off. I don't see Gold holding on here. It is likely to move lower this week, closing below $900. Monday opens bearishly as tr Mercury falls under natal Rahu's aspect while squaring the natal Sun. There will be some upward movement but it probably won't be strong. Next week looks like another sharp move downward, so we may get an early start on Thursday and Friday as tr Mars conjoins the natal Saturn. This is the same aspect that marked the sell off after the May 2006 top. I think we're going to see Gold fall below at least $850 over the next two weeks.
