Monday, June 1, 2009

Venus gives market that loving feeling

Stocks rose globally today as Venus formed a positive alignment with Jupiter, Neptune and Uranus. Both US and Indian stocks rose more than 2% as both markets achieved new highs with the Dow closing above 8700 and the Nifty pushing past 4500. This outcome was very much expected since Venus, the planet of all things good, activated the Jupiter-Neptune conjunction. The US market traded at its 200-day moving average, a potentially significant level of resistance. A rise tomorrow is possible as Venus may show a little more love to the bulls, but the rest of the week looks more like a minefield that could see profit taking and then some.