Tuesday, December 9, 2008

New York stocks fall on earnings worries

Not even Jupiter entering sidereal Capricorn could buoy the market today as stocks fell more than 2% as stock indices bounced off the 50-day moving average. The Dow ended the session at 8691 while the S&P closed at 888. Mumbai was shut for a holiday.

I think the applying square aspect between the Sun and Uranus took precedence over any Jupiter bullishness. With Mars following close behind the Sun, it's hard to see much upside this week, although I would not rule out an up day along the way. Some kind of intraday rally may be possible towards the close tomorrow with the Moon moving into a trine aspect withJupiter.