Stocks fall after UPS warns amid fresh banking jitters

(26 April 2023) Stocks have moved lower so far this week on renewed banking sector fears after First Republic Bank reported a shocking loss of 40% of its deposits in the first quarter.  Not even earnings beats from tech giants Microsoft and Google were enough to offset the banking jitters and the pessimistic forward guidance of transportation bellwether UPS.  As Dow theory tells us, underperformance by transportation stocks suggests the broader markets will likely trend lower over time.  It’s not a good omen.

This week’s decline is a clear manifestation of a double affliction to the Sun.  The Sun (10 Aries) was not only conjunct Rahu (North Lunar Node) on Monday and Tuesday, but it was also under the simultaneous and exact 3rd house/60 degree aspect of Saturn (10 Aquarius).  Since both Rahu and Saturn are considered malefics, it is not surprising that this double affliction to the Sun should have coincided with a loss of investor confidence and a market decline.  In astrology, the Sun symbolizes confidence and vitality.

Sentiment was even more likely to be damaged since this difficult Sun-Rahu-Saturn alignment occurred near sensitive points in some relevant market horoscopes.  For example, the Ascendant (8 Aries) of the NASDAQ chart (Feb 8, 1971) is directly impacted by this malefic alignment as it is only 2 degrees from the Sun-Rahu conjunction.  Saturn’s square aspect to the Jupiter-Neptune conjunction has also not been helpful.

 

With Rahu and Saturn now moving past their exact alignment, it could be that the market may be in a better position to rebound. While that is possible, I would note that Rahu, which always moves in retrograde motion, is approaching its exact conjunction with the Ascendant at 8 Aries.  This could destabilize the market for a while longer, even if the Saturn influence is diminishing in the coming days.

We should carefully monitor the movement of retrograde Mercury here, since it is next to fall under the exact aspect of Saturn.  It will form an exact 60 degree aspect with Saturn between May 11 and May 18 just as it completes its retrograde cycle.  Mercury is due to station direct on May 14 at 11 Aries when it will resume its normal forward motion and begin to escape from the pessimistic and disruptive influences of Saturn and Rahu.

For more details, check out my weekly subscriber newsletter which is published every Sunday.   In addition to reviewing the key planetary and technical influences on US and Indian stocks for the short and medium term, I also provide an astrological analysis of potential upcoming moves in currencies, gold and oil.

These updates are usually posted midweek.  You can be notified of new posts by following me on Twitter.

 

Photo Credit: Ryan McKnight