Thursday, January 15, 2009

Dow tests 8000

Stocks in New York broke their losing streak today after the Dow briefly touched 8000 at midday, ending the day at 8212. The SPX ended the day unchanged at 843 after probing 820. In Mumbai, stocks lost 3% as the Nifty closed at 2736 and the Sensex at 9046.

This week is unfolding bearishly as was indicated by the Mercury-Saturn aspect. Admittedly, I did not expect Dow 8000 to be in the mix but today's afternoon reversal is an indication of the Obama rally that lies ahead for next week. Indian markets may well finish in the red tomorrow, however as transiting Mars may cause havoc with the NSE natal chart.