New York ended modestly lower after the Fed cut rates 25 pts today. As predicted, the market did get a little boost leading up the announcement and also shortly after coinciding with the favourable transit of the Moon to the S&P natal Venus. The failure of the market to hold on to these gains by the close sets the stage for what will likely be more downward pressure Thursday and Friday. Friday may see a significant sell off, perhaps on the order of 2%.
Both Bombay and Tokyo both closed marginally lower Tuesday in advance of the Fed meeting. Thursday may be fairly quiet but look for selling to pick up for Friday.
The Euro bounced back a little and closed above 1.56. This was in keeping with my expectation. There's a good chance for further upward movement Thursday.
Oil fell further today closing at $114. I had wondered if there would be a pause in the decline, but this is proof that we can look forward to a fairly sharp pullback as Mars moves deeper into Cancer. There is a chance for some sort of snapback rally, perhaps on Friday, but this will be short-lived and probably won't last til the close. $110 is very possible by the end of the week.
As forecast, Gold also fell Tuesday closing at $865. Prices will likely be lower by Friday, perhaps near $850..
