Many equity markets of the world have fallen below their lows of last August. Many of them have lost more then 10% from their all time high. Only some emerging markets are showing strength in current volatility. There is a sense of panic across the globe for expected US recession, mortgage problems, or subprime concerns.
Crude Oil and many currencies, of course, made new all-time highs against the plunging U.S. Dollar last week. And Gold sprang bank to life smartly after bottoming at 776 last Monday. By Friday, it was back up to 825, just 25.00 away from its all-time high.
There is no major geocosmic event happening this week. We are in middle of three big events. Mars turning retrograde November 14, Uranus turning stationary direct on November 24, and the 13-year Jupiter-Pluto conjunction that unfolds December 11. Each one of these signatures alone could correspond to a collective psychological peak, not to mention a cyclical peak or trough in various financial markets.
1. Mars tends to drive one to take action, usually based upon impulse. The only problem is that when it is retrograde—as it is November 14-January 30—such impulsive action is usually ill-timed.
2. The nature of Uranus is to be more irrational. Markets can move well above resistance zones, or below support zones, and thus there is a sense of a “break-out.”
3. The Sun’s square to Saturn at the end of the month (exact on November 30 at 8º14’ Sagittarius-Virgo) gives us a reality check if we’ve gone astray of our path
4. Jupiter and Pluto come together only every 13 years, and they can coincide with a sense of urgency, even hysteria due to the nature of Jupiter. In this case, it contacts Pluto, ruler of debt and fear of the worst.
On positive side, Venus (planet of stock and currencies) is in own sign of Libra. Additionally, whole week, it is in good mood with Jupiter and Neptune (vision). Gold, Silver and currencies may not see drastic reduction in valuation.
.In conclusion, all major indicators are in favor of bears. In between these major indicators, there are small pocket of supportive pillars. Credit concerns, real estate and recession fears could remain here. Oil could touch $100 mark this week. Gold and silver could remain strong.
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