Stocks continued to melt higher last week as positive US employment data was enough to offset worries about European sovereign debt. In New York, the Dow gained less than 1% to close at 10,850 and the S&P finished at 1066. Mumbai stocks were also higher as the Sensex made a fractional gain to close at 17,644 with the Nifty ending the week at 5282. Monday's Sun-Saturn aspect did little to curb the enthusiasm for stocks although it is worth noting that Indian stocks did decline on Monday just before this aspect became exact. However, New York's session began just after the Sun was separating from the aspect and hence the negative Saturn influence was already on the wane at the open. The result was falling prices at the open followed by a modest rally. Despite this recent series of aspects, we have yet to see Saturn assert itself here as specified down days have seen only orderly and controlled pullbacks.
This week we may see more of Mars in the equation as Venus and Mercury enter sidereal Aries on Saturday and Tuesday, respectively. This stronger Aries influence invokes Mars since Mars is said to rule Aries. Aries is associated with bold action and courageousness but here we note that since Mars is debilitated in Cancer, planets transiting through Aries may be adversely affected. Therefore, there is a greater chance we could see the more negative side of Aries, such as sudden and rash moves motivated by ego and bravado. While we cannot rule out investors staking out new long positions taken on faulty reasoning, the more likely manifestation is selling out of self-preservation and thus falling prices. Nonetheless, there are a couple of favourable aspects this week that suggest some possibility of gains. Monday will feature a Venus-Uranus-Neptune alignment that may increase risk appetite. This is more likely to manifest in Asian trading since the aspect will be separating by the time US markets open. Similarly, Mercury will slip into the same spot on Wednesday and that could incline stocks towards more gains than chance might otherwise suggest. But the effects of Aries and hence Mars would appear to undermine whatever positive consequences these specific aspects might promise.
With Saturn opposing Uranus on April 26, it seems very unlikely that this rebound rally can continue indefinitely.
