Comment

Stocks in India moved 4% higher last week as sentiment was buoyed by a spate of positive domestic and international earnings. The Sensex closed at a 17-month high on Friday at 17,322, while the Nifty finished at 5142.

Despite my bearish expectations for the Venus-Saturn-Rahu pattern, the market advanced ever higher. One possible explanation for this divergence is that planetary aspects may either 1) release their energy near their point of exactitude or 2) delay that release until a sufficiently powerful planetary trigger comes along.

In this sense, complex alignments mark trend reversals, but whether they are highs or lows can only be known in hindsight. For example, global equity markets formed a top in October 2007 on a malefic Venus-Saturn-Ketu conjunction, but then proceeded to fall for the next 12 months. By contrast, the crash of October 2008 coincided with a negative Sun-Saturn-Rahu pattern, but this time the aspect marked a significant market bottom. As puzzling as the rise was last week, it is still possible that the bearish Venus-Saturn-Rahu pattern may well mark a significant market top. Time will tell if there is a powerful enough trigger to release the energy of that pattern or if a new complex alignment is required to break the prevailing bullish trend.

This week looks to be a mixture of positive and negative aspects. With the markets closed on Monday, it was possible to avoid some of the potentially bearish effects of a Mars-Pluto aspect that day. As a result, there is a reasonable chance of gains on Tuesday as Mercury comes under the benefic aspect of Jupiter. In case Monday’s negativity spills over into Tuesday, the Mercury-Jupiter rise may be shifted into Wednesday. While Mercury is quite strong in the sign of Virgo at the moment, we need to pay extra attention as it enters Chitra on Wednesday. Chitra is a more malefic nakshatra ruled by Mars, so it may have a negative effect on Mercury during its transit for the next week or so. Thursday could see a loss of confidence, especially in banking and government shares, as the Sun forms a minor aspect with Saturn. Friday seems mostly positive as the Sun forms a supportive aspect with Pluto. Overall, there are the raw materials here for more gains, but much will depend on the early week. If Tuesday is down sharply, then it may be harder for stocks to claw their way back.

Looking ahead, there are two potential troublesome configurations that will confront the market. First, Rahu and Ketu will change signs on November 3. A sign change can coincide with instability and uncertainty, although it is not usually long lasting in its effects with the nodes. This time around, however, the sign change will occur just prior to an aspect from Ketu to Uranus. Given Uranus’ symbolism of sudden change and upset, this may be an additional source of uncertainty. Second, and arguably more troublesome, Saturn will form a square aspect with Pluto on November 15. This combination evokes a sense of difficulty, strain and potential loss and will present a formidable challenge for the bull rally.

As the US dollar continued its downward spiral, crude oil moved higher to close at $78 last week. My bearish forecast notwithstanding, Venus provided the necessary boost for Saturn that translated into more buying. Given Saturn’s current placement in Virgo, it may only be once Mercury leaves Virgo on October 24 that crude substantially weakens.

Nonetheless, it may still see some declines this week now that Venus is separating.
Gold took a breather from its recent rally and closed only marginally higher on the week at $1,052. In last week’s column, I had wondered if gold could survive last Tuesday’s Venus-Saturn conjunction. As it happened, prices advanced going into the conjunction but weakened thereafter. This bearishness was perhaps all the more noteworthy because of persistent dollar weakness through much of the week. Gold may see more choppiness this week as the early week Mercury-Jupiter aspect may bring in buyers again but the Sun-Saturn aspect on Wednesday and Thursday promises to encourage sellers.

The writer is a neo-Vedic astrologer specialising in predictive astrology.