The slow grind upwards out
of the July Low continues … and the contradictions between
various indices are becoming even more strained.
Conditions in the technical indicators
have not deteriorated to any significant degree. No new Hindenberg
Omen has appeared to increase the chances of a sharp downward spike.
Small cap indices – and the Nasdaq
– continue to outperform the big boys.
The US dollar has been rallying as
oil and gold head south. The rising greenback is both a blessing
and a curse; it helps American consumers in a number of ways …
making it cheaper to fill the tank, go shopping for cheap Chinese
goods at Wal Mart, or even just the psychological effect of not
feeling like a Third World tourist while souvenir shopping in Tijuana.
However, it is a curse in that it inflates
the price of American exports, which is the one area of the American
economy which has been holding up quite strongly.
In any case, the dollar’s rally
and the oil/gold decline are becoming a little stretched, at least
on a short-term basis, and corrective movements are likely to have
a negative impact on stock indices once the bounceback in oil and
gold starts.
We now enter a week in which there
are 7 significant astrological events.
It is also a week in which we have
the culmination of a Fibonacci timing cluster and a major potential
trend change turn date.
And on Friday in New York, the McClellan Oscillator made a very
small change, indicating there will be a sudden, sharp move on Wall
Street tomorrow or Tuesday.
Today, we have three astrological
events which will help to influence market direction over the coming
week – the Lunar eclipse Full Moon in Aquarius, Venus trine
Jupiter and Mars square Pluto.
As the trading week gets underway,
Mercury will trine Jupiter and Mars will change signs from Virgo
to Libra. Late in the week, the Sun will trine Pluto and Mercury
and Venus will become conjunct before both move to an opposition
with Uranus next weekend.
The strongest event is likely to be
the Mars sign change. While the ultimate Arien is traditionally
considered to be ill at ease in the harmony-seeking sign of Libra,
the shift has the potential to lighten up on the gunfire.
UNITED STATES
Dow Jones Industrials Daily [click
to view the chart and download the entire Adobe PDF file]
The first thing we notice is that the
DJI continues to bounce off a rising trendline out of the July Lows.
I’ve put two trendlines here
and consider the steeper, blue line to be the more legitimate.
The second thing we notice is that
upward movement continues to be stopped at horizontal resistance,
defined by the January and March Lows.
It’s a rising wedge, which tends
to be Bearish; because if prices cannot break decisively above the
horizontal resistance, the only alternative is a close below the
rising trendline which tends to open the gates on the dam and lead
to price falls.
The CCI displays no significant negative
divergence, even if the MACD is looking a bit iffy, leaving open
the potential for an upside breakout.
.....CLICK
HERE to download the FULL version of this report with all technical
charts and further comments. (PDF format)
The World At Large is delivered in advance to Astrological
Investing Premium Member subscribers. Randall Ashbourne
is a former journalist and political strategist residing in Australia.
*QHT Technical Charts created using Quick
Harmonic Trader Software, by P.A.S. Astro-Soft, Inc. makers
of Galactic Investor Astrology software.
***
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