Wednesday, April 1, 2009
Markets add to yesterday's gains
Wall St woke up on the right side of the bed this morning as markets rose 2% on some encouraging economic data. After a negative open, the Dow closed at 7761 and the S&P ended the session near the highs of the day at 811. Mumbai also moved back towards last week's levels as the Nifty ended at 3060 and the Sensex at 9901.
So the midweek rally I wondered about seems to have come to pass here, although bulls should note that we're still off last week's highs. Failure to move beyond those levels would be a bearish signal. I do think we're headed mostly down here in the next few sessions. In fact, given the prominence of malefics Mars and Saturn, it could be a BIG move down, possibly over 5%.
I would also point out that sidereal Uranus will enter Pisces over the weekend. Outer planet sign changes often correlate with major developments in the financial and geopolitical world. Readers will note that the largest single day decline in US stock market history in October 1987 occurred two days after sidereal Uranus changed signs. That doesn't mean we're looking at a drop of that magnitude (>20%) but it does add an extra amount of planetary energy to the mix. Since Uranus is the planet of surprises and sudden changes, expect the unexpected!