The S&P 500 could set a high next week on its birthday, reports Susan Gidel.

Tuesday, March 3 and Wednesday, March 4 are the most astrologically active of the week. Based on transits to first-trade horoscope charts, both the S&P 500 and gold could make highs on Tuesday, or Super Tuesday as it is known among the political crowd. That’s when 40% of party convention delegates in the presidential race are awarded as voters in 14 states (including California and Texas) go to the primary polls.

The fly in the ointment on Tuesday is that money planet Venus and the great limiter, Saturn, are in a tension-filled square at midday. That suggests that any gains could be short-lived.

The cosmos perks up a little on March 4 (the S&P 500’s actual birthday) when retrograde Mercury enters Aquarius and connects easily with Venus, which moves into its ruling sign of Taurus that evening. Both planets are much happier in these new zodiac signs, and their connection could mean new, innovative ideas — albeit short-lived — about money.

Tuesday, March 3

  • High in Gold: Gold prices should get a lift as the transiting Sun aligns with the futures contract’s natal Jupiter, which is typically a positive transit in any horoscope chart. Indeed, the recent market peak of $1,691.70 per oz. in April gold occurred the day that the transiting Moon was conjunct natal Jupiter. Also supportive is that transiting Mercury (retrograde) is back at 00 Pisces. Prices peaked at $1,598.50 on Feb. 3 when Mercury first hit 00 Pisces; it’s final pass to that degree is on Monday, March 16. Three planetary price conversion levels exist between $1,688 and $1,694, the area of the recent high. Beyond that, levels to watch include $1,719, $1,726, and especially $1,732 and $1,761.
  • High in S&P 500: Get out the birthday cake and candles for the Standard & Poor’s 500 index, which could celebrate with a high the day before it turns 63. Not only is the transiting Sun at the same degree (13 Pisces) as when the index was launched in 1957, but also transiting Mercury matches its degree of 00 Pisces in the natal horoscope. The most significant planetary price conversion levels include: 3028, 3213-3223, 3256 and 3388. Others along the way include: 3058, 3092, 3124-3234, 3190 and 3210. Look for support/resistance at any of these levels. On the downside, the next significant level is 2896.

Last Week’s Scorecard (through Thursday’s close)

Bullseye!

High in Crude Oil on Thursday, Feb. 20: April crude oil peaked at $54.66 per barrel on Feb. 20, dropping nearly $10, to $45.88, a week later.

Pretty Darn Good

High in S&P 500 on Friday, Feb. 21: The S&P 500 peaked two days earlier, on Feb. 19 at a record high of 3393.52 as the transiting Moon was square to its natal position in the S&P 500 launch chart from 1957, in addition to several other connections between the two horoscope charts. The market fell more than 12% in the next week, dropping to a low of 2978.76 on Thursday, Feb. 27.

High in Euro FX on Monday, Feb. 24: Indeed, it was strength to the upside that occurred on this market’s Venus return.  Prices rallied just past a significant resistance area, based on planetary price conversion, at 1.0980 to peak at 1.10180 on February 27.

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.