Stocks stumbled for the second day in a row as traders got more bad news on inflation, housing and banking. The Dow finished at the day 11,348 and the S&P at 1266. While I had forecast a grim Tuesday, my call for an up day Monday was denied by the power of the Mars-Pluto square. The week seems destined to be negative overall now, particularly with Friday's volatility still to come. It's possible there will be a retest of the July lows here.
Gold and Oil rose today as they both attempted to form more solid bottoms. While Monday's decline did not materialize, it's possible we've seen the interim bottom here as the upward momentum should be intact the rest of the week. Friday will be key.
The Euro continued to tread water with more confidence in the neighbourhood of 1.48. The rest of the week should be mostly favourable.
