Wednesday, December 17, 2008
US stocks fall back
Stocks in New York fell about 1% as traders took some profits after yesterday big run-up. The Dow closed at 8824 and the S&P at 904. In Mumbai, the major indices fell 3% as the winning streak came to an end. The Sensex ended the day at 9715 and the Nifty at 2954. The US dollar sell off continued as the Euro and Gold rose 3%.
In the wake of the Sun-Jupiter aspect, this decline was not unexpected as the positive energy was no longer available to push up prices. I had thought the US dollar might have turned around by now, but the Euro chart does show a couple of obviously positive contacts in effect today amidst all the tense ones: tr Venus conjunct the natal Uranus and tr Jupiter still conjunct the natal Venus. The Euro (and gold) may squeeze one more day out of this rally before coming back down to earth. Tomorrow could be a big down day for US stocks as Moon conjoins Saturn during the trading day. India may avoid the worst of it until Friday.