Mercury Retrograde over the coming weekend: On alert for a possible change in trend
|9/23 Recap: - The S&P opened with an 11 handle gap up and then it was off to the races, rallying another 59 handles, non-stop, into a 2:00 PM high of the day. From that high, the S&P gradually declined 16 handles into the close.
9//23 - The major indices had a very strong up day with the following closes: The DJIA + 506.50, the S&P 500 Index + 53.34, and the Nasdaq Composite + 153.40.
Looking ahead – Thursday was a very strong up day. However, there was some weakness into the close and this weakness followed thru into the overnight futures. We have Mercury Retrograde over the coming weekend, so we are on alert for a possible change in trend. The best scenario is if the market were to rally into the weekend for a possible high on Monday. If the market declines into the weekend, we will expect a low on Monday. However, this would represent only a 1 – 2 day pullback and that is not a high probability set up.
The NOW Index has moved back to the NEUTRAL ZONE.
Coming events
(Stocks potentially respond to all events).
4. A. 9/24 AC – Mercury in Libra turns Retrograde. Major change in trend Corn, Oats, Soybeans, Sugar, Wheat.
B. 10/01 AC – Venus Aphelion. Major change in trend Cattle, Copper, Corn, Cotton, Gold, OJ, Sugar, Wheat.
Stock market key dates
Fibonacci – 9/25.
Astro – 9/27, 10/1 AC.
Please see below the S&P 500 10 minute chart.
Support - 4440 Resistance – 4494.
Please see below the S&P 500 Daily chart.
Support - 4440 Resistance – 4494.
Please see below the Planetary Index charts with S&P 500 10 minute bars for results.
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