US stocks rose 1.5%, as the market posted its largest weekly gain in over 30 years. The Dow finished the session at 9325 while the S&P closed at 968. Global markets continued their rally earlier in the day, as Indian stocks soared 7%. The BSE Sensex closed at 9788 while the NSE Nifty stood at 2885 at the close of trading. I was clearly mistaken in my expectation for weakness here as the the market has put together several consecutive up days for the first time in several weeks.
Nonetheless, I remain convinced that next week will see another sharp move down as the tense Venus-Saturn-Uranus configuration sends a shock to the markets. The aspect becomes exact on November 4, and as I've said previously, it's very possible that the market may have to react to some unforeseen developments in the US election. While I would not rule out another up day Monday in the US, I do think we are headed down over the next two weeks, probably to a retest of 7773 on the Dow and 7697 on the Sensex.
