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Stocks benefited from the central banks’ largesse last week. In India, the Reserve Bank of India (RBI) cut the Cash Reserve Ratio (CRR). In the US, the Fed promised to hold its near-zero interest rate steady till 2014.

The Sensex rose 3% to close at 17233 while the Nifty finished at 5204. While I did expect some upside around the Moon-Venus conjunction midweek, this bullish outcome was surprising, given the surplus of Mars energy around Tuesday’s retrograde station.

As it turned out, the market handled this difficult energy quite well as the CRR cut was enough to keep bulls buying.Friday’s gain also seemed to be at odds with the more challenging Mercury-Saturn aspect.

In light of the recent spate of encouraging economic news, the market continues to move higher. This is at odds with the negativity inherent in the Mars retrograde station. As I noted last week, there are a number of offsetting planetary factors that could serve to postpone or mitigate some downside though.Jupiter is still strong here through its ongoing aspect to Uranus, and thus presents a formidable reservoir of bullish energy.

As this aspect gradually weakens over the coming weeks, however, stocks may be less likely to rise further. In addition, the upcoming Saturn retrograde station on February 7 will create another source of bearishness. So far in 2012, markets have risen on the expectation of an extension of loose money policies from central banks. The euro crisis has also been moved to the back burner, as the Greek government attempts to hammer out a deal with bond holders behind the scenes. But with Saturn likely to exert its pessimistic influence over the next few weeks, the downside risks may increase.

This week offers another opportunity for bears to take control of the market, the main aspect being the Venus-Mars opposition.As we know, Mars turned retrograde last week, but has yet to express this difficult energy.Although Venus is a benefic planet, its aspect with Mars tends to be bearish.

Since Mars symbolises quick or sudden action, we could see some developments weigh on sentiment. Trading volumes are also more likely to increase with this aspect. This aspect is exact on Wednesday and Thursday, although it may well manifest somewhat earlier. Monday’s Moon-Jupiter conjunction may have a somewhat more bullish impact, although it is unclear if it can fend off the imminent Venus-Mars aspect.

Crude oil inched higher last week as the growth outlook improved. WTI crude closed just under $100. I thought we might have seen more downside in the early part of the week, but the mid-week recovery coincided closely with the Moon-Venus aspect.

Crude looks more vulnerable this week on the Venus-Mars aspect. The entry late in the week of Venus into Pisces, however, looks more positive.

Gold exploded higher last week as the prospect of more Fed easing raised inflation fears, and finished near $1730. While the size of the move was surprising, the gains were not as unexpected, as the mid-week Moon-Venus conjunction was favourable for gold. There is a greater chance for some significant profit-taking this week, as the Mars affliction to Venus is likely to reduce enthusiasm for bullion. Friday’s entry of Venus into Pisces is likely to have a bullish influence later this week.

— The writer is a neo-Vedic astrologer specialising in predictive astrology. He runs the website http://www.modernvedicastrology.com/

— The writer is a neo-Vedic astrologer specialising in predictive astrology. He runs the website www.modernvedicastrology.com