Worldwide markets slipped back Tuesday after Monday's relative strength. New York ended down about 0.5% closing at 12,576/1365. We should see continued downward momentum Wednesday, but some upward intraday movement is still possible.
Bombay saw some profit taking after Monday's unexpected rise as the Sensex closed down 169 pts to 15,587. I expect more significant movement on the downside Wednesday, maybe to 15,000.
Tokyo fell back 1.5% to 13,250. Expect more of the same Wednesday, although 13,000 resistance may hold.
Against our expectations, the Euro is holding fast to $1.57 after Tuesday's trading. The negative pressure should increase as the week goes on, although the selling may be fairly modest and focused on Thursday's trading.
Oil was rock solid today holding onto Monday's gain to close up a bit at $108.86. This confirms my weekly forecast for rising prices in the early part of the week. There will likely be some pullback as we go on this week.
Gold dropped back $9 to $918 Tuesday after a strong Monday. I think most of the momentum will be down this week starting Wednesday as tr Moon conjoins the natal Ketu. We are on target to close under $900 for the week.
