Oil and Gold show no signs of backing off their recent gains. Oil has hit another all-time high today at $113. This is contrary to my expectations as I thought the Sun-Mercury transit would produce more of a pullback this week. This may still happen since the Sun-Mercury falls under the aspect of natal Ketu tomorrow and Thursday. However, whatever declines occur will be at levels much higher than forecast, perhaps back to $110-112. So while there will be some days of profit taking, it's clear to me that the bullish mood leading up to the coming Jupiter station on May 9 continues to rule these markets. The next decline in crude is most likely early next week as the tr. Sun opposes the natal Saturn in the futures chart. This will drop prices by 2% or more. This opposition is generally a more difficult aspect than the Sun-Mercury conjunct natal Mars.
As a caveat on my bearish Gold forecast, I had wondered if the tr Mars to natal Saturn conjunction might be too far past exact to move the market down Monday. In light of the modest gains we've seen so far this week, that is likely what has happened as the tr Jupiter approaching the natal Venus overwhelmed everything else. I still think we will see significant declines (>2%) over the rest of week, however, as tr Venus falls under the 10th house aspect of the natal Saturn. We should finish below $920 by Friday. I think gold will generally move higher over the next two weeks until Jupiter changes direction but there will be days of significant declines as well.
