It seems that the oil rally may be over for now as crude fell $4 today back under $132. I had thought that the early part of the week was the most bullish and this has largely been borne out as Monday saw the spike over $139. After Wednesday, I thought crude would be more subject to decline and today's action confirms this as well. I would expect tomorrow to be negative or flat at best. The week after next (June 30) may see another run-up, however limited, as Mercury crosses the ascendant of the Futures chart and is in aspect with Rahu.
Stocks in NY rose after a couple of bad days. The Dow closed at 12,063 and the S&P at 1342. This sets up the possibility for a rally with the Moon-Jupiter conjunction tomorrow. I'm not certain it will go anywhere, however, since the aspect perfects in the morning. We will likely see selling pressure in the afternoon. I'm generally bearish, so further erosion of these levels is still the most likely scenario.
In keeping with the forecast, the Euro held steady at 1.55 today, and continues to rebound from last week's tumble.
Gold had another solid up day and closed at $904, its highest level in three weeks. This reached the weekly forecast target of $900. I think it's susceptible to sell offs over the next week, however.
