Volume turnover on Wall
Street last week was massive, but the “breadth” of the
Up days was truly awful, with the number of stocks hitting new Lows
very much higher than the number recording new Highs.
The broad-based S&P 500 made a
dramatic, Pollyanna gap higher on Monday following the bail-out
of Fannie Mae and Freddie Mac – only to wipe out the gains
with a Chicken Little panic back to the downside on Tuesday.
As we discussed last week, it was
an extremely high-energy astrological aspect period, with Mercury
and Mars squaring Jupiter as it turned Direct, with Jupiter making
its second, stabilising trine to Saturn as Pluto turned Direct,
with Mercury conjuncting Mars,
Venus squaring Jupiter and then conjuncting Mars … and finishing
the week with the Sun opposing Uranus, ending yet another of the
translation periods of the Saturn-Uranus opposition series still
developing.
Tuesday was also a Bradley Model turn
date – with another Bradley turn due at the end of this week
and we discussed the possibility it could coincide with a Low on
the Jupiter/Saturn trine, the aspect which provided the stopping
point for many worldwide indices at the January plunge.
This coming Friday is also an important
Fibonacci turn date, part of a series which began at the DJI’s
high water mark in early 2000. The last few turns in this series
have been coming a week early.
There’s another turn predicted
by the same series on September 29, which is also the New Moon in
Libra, in approaching square to Jupiter. In fact, there’s
a cluster of Fibonacci turn dates occurring between September 22
and October 3.
This week kicks off with a Full Moon
in Pisces and conjunct Uranus and may be the last kicker for the
Saturn/Uranus opposition translation, since the New Moon occurred
conjunct Saturn.
What that means is there is a potential
for a Low to be made on Monday in most markets and the chance of
at least an intermediate term rally to develop, lasting 7 to 12
days, which puts us into the time frame of the Mercury Retrograde
period beginning in the middle of next week.
This would fit with the predictions
made to CNBC by Kaye Shinker: "Expect
the second and third week of September to move gradually to the
upside and possibly hitting 12,000 before Sept. 24. Mercury Retrograde
should cool enthusiasm until Oct 15."
Dow Jones Industrials - Astrology
Since we’ve been discussing the importance of the Jupiter/Saturn
trine, let’s review its impact so far.
On the left of the chart, I’ve
marked the first occurrence at the January plunge. In some indices,
such as the ASX 200, prices reversed after making an exact hit at
the planetary price crossing point. The DJI overshot a little before
recovering.
Unfortunately, last week’s repeat
did not give us the same, very clear indication – just another
part of the huge contradictions and dramatic whipsawing making it
nearly impossible to get a reliable reading of where things are
heading short term.
The dashed lines (marked “A”)
are “mirrors” – and what we see is the DJI trapped
between these alternative Jupiter (blue)/Saturn (orange) price lines.
Monday nudged beyond the price point,
but closed below – and on Tuesday the price collapsed before
making an exact hit to the non-mirrored price crossing point (marked
“B”).
What does it mean? Bluntly, no bloody
help from the astrology!!
Dow Jones Industrials
[chart] click
to view this chart and download the entire PDF file.
The price chart displays the same sort
of ambivalence, a technical picture repeating the uncertainty of
the astrological chart.
While prices are contained within
a narrow, sideways pattern, we are also within a triangle. If Wall
Street can find a Low on Monday, a rally up above the constraining
influence of the triangle’s upper edge still leaves us trapped
in the sideways pattern – but it does put Kaye’s prediction
of a possible rise to 12,000 by the middle of next week
within reach.
Technically and astrologically, on
the charts at least, there’s not much to support that view.
But, let’s review events –
in the skies above and on the ground below.
Firstly, apart from the Full Moon
conjunct Uranus, the astrological aspects immediately ahead are
not of the extreme, high-energy nature of last week … and
they lean a little towards the more benign.
Secondly, from an on-the-ground viewpoint:
· Fannie
Mae and Freddie Mac collapsed.
· Lehman Brothers, the 4th largest American
Bank, plunged 77% and virtually collapsed.
· AIG slumped 46% and needs billions in
capital.
· The European Union warned of imminent
recession in the Euro zone.
· American automakers are begging billions
in loans to start making fuel efficient cars of the type Europe
and Asia have been turning out for decades.
· Hurricane Ike, a storm the size of the
Gulf of Mexico, battered the already-bruised South and the oil
platforms and coastal refineries.
And yet, the major American indices,
ended such a devastating week marginally higher!
This is the DJI’s weekly …[chart]...CLICK
HERE to view the chart and download the FULL version of this report
with all technical charts and further comments. (PDF format)
NOTE: Randall
must travel to Malaysia in the middle of the following week, and
given the mishaps possible during Mercury Rx and the uncertainty
of the political situation in Thailand (where he is presently) it
is unlikely he will file a report for the weekend of September 27/28.
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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