The United States celebrates
its birthday this week and Wall Street trading will be shortened.
It’s not a particularly happy
birthday for many stock market investors worried by the new bearish
Lows in Wall Street’s most famous index, the Dow Jones Industrials.
However, the divergence between markets
continues to build – worldwide and in the United States.
Of the major world indices, it is
only the DJI and India’s Sensex which last week broke below
the Lows of March.
The S&P 500, the Nasdaq, the Russell
2000, the FTSE, ASX 200, Nikkei and Hang Seng all held at higher
levels.
Friday’s trading in many markets
was marked by very high volumes – indicating strong buying
interest at those low price levels.
The question is whether the buying
interest can turn the downtrend around … or is nothing more
than temporary support which will fold under any new wave of selling.
We have a confirmed Hindenberg Omen
on the clock, pointing to a greatly increased chance of a severe
correction within the next three or four months.
However, technical analysis suggests
this current downleg is close to completion and that there needs
to be substantially more distribution before another impulse wave
down develops.
And it looks as if a potential bottom
was being marked out in many indices last week as Uranus, the planet
which has rulership of stock markets, turned Retrograde, an astrological
condition which has a strong connection with significant market
turning
points.
Mars is about to trine Pluto and change
signs to Virgo – and Mars changing signs is another signal
for a market turn. Venus shortly opposes Jupiter and trines Uranus,
both of which suggest more positive energy than we’ve been
seeing into the Uranus Rx station.
Technically, the next rally which
develops should be at least a second-degree; meaning it will run
for 7 to 12 days – and if it begins this week, that would
bring it into the Mars conjunct Saturn aspect, which is quite negative,
in the middle of next week.
UNITED STATES
Dow Jones Industrials [click
to view the charts and download the entire Adobe PDF file]
The DJI looks bearish and there is virtually nothing in our normal
indicators to suggest an imminent turnaround.
The index has dropped lower than either
January, or March, and the only thing in its favour is that it is
deeply oversold......(read more...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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