Stocks mostly treaded water last week on mixed bag of economic news. New York continued to trade well above its 200-day moving average, as the Dow closed Friday at 8799 while the S&P finished at 946. In Mumbai, losses in the beginning and end of the week offset midweek gains as the Nifty closed at 4583 and the Sensex at 15,237. This outcome was not unexpected, as I noted the possibility that the bullishness of Mercury-Jupiter-Neptune pattern could be counteracted by the negativity of the Mercury-Mars velocity equivalence. Interestingly, Mumbai's trading patterns seemed to bear more resemblance to the transit aspects as Tuesday and Wednesday did see a rise with selling late in the week. By contrast, New York saw some modest gains only late in the week, although they were large enough to change the basically uncommitted tone for the week.
With Jupiter turning retrograde Monday, we have another reason to consider the chances of significant correction across markets this week. When planets change their direction, markets can often mark a reversal in their direction. Given that markets have been generally rising lately, this Jupiter retrograde influence makes some kind of pullback somewhat more likely over the coming days. With the Sun moving into position with the bullish Jupiter-Neptune-Uranus alignment early and midweek, I would think that some gains are likely before any possible move lower. With Sun-Jupiter-Neptune lining up for the bulls this week, the bears can ponder the negative potential of benefic Venus coming in contact with malefic Mars by next weekend. Since aspects usually express their energy before forming an exact angle, one would think the days before the conjunction on Sunday, June 21 would be more prone to negativity. But perhaps the key word here is "usually".
