The stars are indicating that traders will need to stay alert and not succumb to tryptophan as the markets may offer fireworks this holiday week, writes Susan Gidel.
Be on alert for the opening of trading on Sunday night (for trade date Monday, Nov. 25) for potential market fireworks. I discussed this at length in last week’s outlook, and how the Mars/Uranus and Venus/Jupiter connections almost scream “big money blowup.” That these transits occur on a Sunday morning while all global markets are closed, going into a holiday trading week only raises my antennae.
Note that Venus, the planet that rules money, enters the sign of Capricorn on Monday night. Capricorn is the sign that restricts and set boundaries, which means that money matters of all sorts will come under more scrutiny.
Although the S&P 500 is not on this week’s list of potential highs or lows, its current record high of 3127 on Nov. 19 is just 3 points beyond the conversion price of the market’s first-trade descendant (7th house cusp); the descendant conversion level also marked the 2017 high at 2401. Two other planetary price conversion points deserve attention as well:
- 3190—Midheaven conversion; tied for the area of most highs since 1982.
- 3213-3223—Venus/Sun conversions that are at the end of the conversion cycle; the Venus/Sun conversions marked the highs in 1987 (at 337), 1999 (at 1431), and 2015 (at 2134); each market top in these three years was within 8 points of the conversion level.
Holiday Trading Schedule for Thanksgiving
Note: Four important U.S. economic reports released on Wednesday, Nov. 27.
NYSE
- Regular trading hours on Wednesday
- Close at 1:00 pm on Friday
CME Group
- Regular trading hours on Wednesday
- Globex stock indexes, interest rates, FX, metals—Open on Wednesday at regular time for trade date Friday, November 29, halt at 1:00 pm Thursday for 5 hours
- Globex grains and livestock remain closed until 9:30 am Friday
- Globex dairy remains closed until Sunday, December 1 at 6 pm
Tuesday, Nov. 26
- High in Crude Oil: The New Moon in Sagittarius brings both the Sun and Moon into conjunction with the crude oil market’s first-trade Jupiter and Uranus, while transiting Mars and Uranus are connected in a straight line with the market’s natal Moon/Saturn conjunction. Finally, the crude oil market’s ruler—Neptune—is in play as transiting Venus/Jupiter are aligned with its position in the first-trade chart. On Wednesday, Nov. 27, transiting Neptune turns direct in motion having been retrograde since the June 21 summer solstice, which could provide positive support. Based on planetary price conversions, $56.80-$57.20 per barrel is a critical pivot area. The next resistance to the upside is $60.90, with the next support to the downside at $50.80.
- High in 10-year Treasury note: The New Moon in Sagittarius is aligned with an important axis between Mercury and Uranus in the first-trade chart for 10-year Treasury notes that often is in play at market highs. At the same time, transiting Mars is exactly conjunct first-trade Jupiter, stimulating outsized growth. Also important is that transiting Mercury is opposite the market’s first-trade Sun, and that the money planet, Venus, has just moved into a new zodiac sign. On the upside, planetary price conversion resistance is stiff at 132-03; the year-to-date high on Sept. 3 was 132-13, and the subsequent rally stalled at 132-01 in early October. The next conversion resistance level is 134-06.
Friday, Nov. 29
- High in Gold: The planet Mercury in the S&P 500 first-trade horoscope chart is often highlighted at market highs, and on the day after Thanksgiving, it receives transits from three planets in the sky. Most closely aligned are Saturn and the Moon, in a conjunction with natal Mercury. Also, transiting Mercury is 60 degrees away from its first-trade counterpart. Resistance could occur at $1508 per oz. in the December contract, then $1545 and $1573-$1581 based on planetary price conversions. As a reminder, gold futures for trade date November 29 open on Wednesday, November 27 at their regular time, then halt at 1:00 pm on Thanksgiving Day for five hours.
Last Week’s Scorecard (through Thursday’s close)
Pretty Darn Good
- High in Soybeans on Thursday, Nov. 14: January soybeans peaked on Nov. 15 at $9.23 ½ per bu., dropping to $9.10 on each of the first three days of the following week.
- High in Crude Oil on Friday, Nov. 15: December crude oil peaked at $57.97 per barrel on Friday, just 12¢ less than the high the following Monday. By Wednesday, Nov. 20, December prices had fallen to $54.76, more than a $3 move in three trading days.
- High in Euro FX on Wednesday, Nov. 20: The outside trading day on Thursday, Nov. 21 in the December contract appears to have established a price peak at 1.111, below planetary price conversion resistance at 1.117.
Incomplete
- High in S&P 500 on Friday Nov. 22:The S&P 500 set the high for the week (so far) on Tuesday, but is only about 20 points off going into today.
The position of planets in the sky as they relate to their positions when a market first began trading can provide clues to potential trend changes. The energy is strongest on the days noted in this post, but it is not unusual for the effect to be seen a day or two either side. See backgrounder “Market Analysis with Astrology” for further information.
Susan Gidel is editor of the Red Letter Trading Days newsletter.