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ShareStocks rose more than 3% last week on continued signs of economic recovery as factory output showed gains for the seventh straight month.
By Friday's close, the market had made new highs for the year as Sensex finished at 16264 while Nifty stood at 4829.While I was somewhat off the mark in terms of the timing of the gains, I had been mostly bullish for the week due to the dominant aspect involving benefics Venus and Jupiter.
Most of the gains in fact occurred on Monday, a bullish day according to last week's column as the Moon in Pisces resonated with fortuitous Venus. The negativity I expected for Tuesday and Wednesday never fully materialised, however, as the market was mostly flat with an upward bias.
The end of the week was much less positive than expected, although it was noteworthy that Thursday began with a strong gap up, coinciding with the bullish Sun-Venus-Jupiter configuration.
With pessimistic Saturn forming an exact opposition (180 degrees apart) to changeable Uranus after Tuesday's trading session, this week's planets present a genuine potential roadblock to this ongoing rally. These two slow moving planets often generate bearish results, although it is important to note that declines may not exactly correlate to their exact aspect.
We have already witnessed the effects of two Saturn-Uranus oppositions in recent months, one in early November 2008 and a second in early February 2009.On both occasions, the market fell significantly in the month following the exact aspect.
It is very possible we could see a repeat of that pattern here, especially given the often bearish retrograde Mercury cycle. Together, these planetary influences indicate that a reversal may be at hand. In any event, some more upward movement is not out of the question early to midweek as Moon is in good aspect to Jupiter on Monday.
Tuesday seems less positive as the Moon conjoins Ketu while the Moon teams up with the happy energies of Venus on Wednesday. Thursday seems more volatile and unpredictable as Mercury will be in tense aspect with Pluto.
On Friday, the Sun will join Saturn in the first degree of Virgo and will activate the Saturn-Uranus aspect. This could well coincide with a big move. While I am quite negative about the market's prospects here, I would not rule out the possibility that we could see an important high made from this powerful mixture of energy at some point this week.
Overall, this Saturn-Uranus opposition may well mark a significant turning point in the market for the year. With Saturn soon confronting an aspect with disruptive Rahu in October, the outlook for stocks continues to be quite bearish for the coming weeks.
As predicted, crude oil bounced back last week as it closed a shade under $70. Most of the gains came in the early going ahead of the Venus-Jupiter aspect. Crude is likely to move higher early in this week ahead of the Sun's conjunction with Saturn. But as the week progresses, declines are more likely.
Gold finally moved over $1000 last week, closing Friday at $1006 on the continuous contract. This was mostly in keeping with our expectations as Friday's Venus-Jupiter aspect took it over the top.
This week gold may be able to squeeze out another day or two of gains, but with the Sun conjoining Saturn on Thursday, it's hard to see how gold can extend the rally much further.
The writer is a neo-Vedic astrologer specialising in predictive astrology.
He runs thewebsite www.modernvedicastrology.com
