|

Geo Mars enters Scorpio: Important change in T-Bonds trend

10/27 Recap: - The S&P opened with a 5 handle gap up, made a high 1 handle higher, in the first minute, and then declined 12 handles. From that low, the S&P rallied 15 handles into a 10:00 AM high. From that high, the S&P zig zagged 16 handles lower into a 10:57 PM low. From that low, the S&P bounced 9 handles into an 11:13 AM high.  From that high, the S&P  pulled back 7 handles into a 11:59 A++++M low. From that low, the S&P rallied 13 handles into a 2:13 PM high of the day. From that high, the S&P declined 32 handles in the low of the day at the close.

Chart

10//27 – The major indices, following re-test of Tuesday’s highs, had a mostly moderate down day with the following closes:

The DJIA - 266.73; S&P 500  - 23.11; and the Nasdaq Composite + 0.12.

Looking ahead  – We are in the pass sidelines mode, probably until the end of this week.  

The NOW Index is in the NEUTRAL ZONE. 

Coming events

(Stocks potentially respond to all events).  

5. A. 10/29 AC – Venus Greatest Elongation East.  Major change in trend Cattle, Copper, Cotton, Sugar, Wheat.

    B. 10/29 AC –  Pluto 90 US Mercury.  Major change in trend US Stocks, T-Bonds, US Dollar. Interesting to note that Mercury is the messenger = communications and transportation and the supply change crisis persist. The good news is that this aspect suggest this may come to a head by 11/01 and then there may be some relief.   

    C. 10/29 AC – Geo Mars enters Scorpio.  Important change in trend Cocoa, Hogs, and T-Bonds.

Stock market key dates

Fibonacci – 10/29.

Astro – 10/29 AC.

Please see below the S&P 500 10 minute chart.

Support  - 4540,  Resistance – 4575, 4599.

Chart

Please see below the S&P 500 Daily chart.

Support  - 4540, 4500  Resistance – 4575, 4599 .

Chart

Please see below the Planetary Index charts with S&P 500 10 minute bars for results.

As of 10/22, I am dropping the charts marked Pages 26 and 28.

As of 10/26, I am dropping chart marked Page 29. 

Chart

Author

Norm Winski

Norm Winski

Independent Analyst

www.astro-trend.com

More from Norm Winski
Share:

Editor's Picks

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s  irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest 

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.