March 10 kicks off a period of greater activity. Look for Coronavirus news on Monday, reports Susan Gidel.
After three weeks of appearing to move backward in the sky, Mercury turns direct in motion late Monday, at 11:49 pm EST. Mercury rules trading, commerce and communications, so any snafus encountered with online trading platforms or communications should clear up beginning on Tuesday, March 10.
This three-week period included the record high in the S&P 500 and its subsequent 16% drop, so transparency about the Coronavirus and its economic effect also could become clearer as Mercury begins moving forward again. The Full Moon in Virgo on Monday, March 9 puts the spotlight on health issues, such as the Coronavirus, and details of all sorts. Together, both cosmic events could clear up the issue and its effects.
Notably, all the planets are direct in motion from March 10 through April 24, the longest stretch of the year. Thus, all of the planets remain attentive to their duties, and won’t slack off—even during spring break.
Monday, March 9
- High in Soybeans: Planets in the sky create a Grand Square with the important Moon/Jupiter axis in the market’s first-trade horoscope on the day of a Full Moon, and one day before the monthly crop production report. A similar formation on Jan. 14, 2020 (four days after a full moon) presented a last chance to sell before prices broke through support at $9.40 per bu. In 2019, soybeans scored 10 market turns at the Full Moon, including seven highs (March, May, June, July, August, September and October) and three lows (February, November, December). The planetary price conversion resistance beyond current values near $9.12 is back to $9.38 in the May contract.
Wednesday, March 11
- High in Euro FX: The rally in Euro FX could peak as the market’s first-trade horoscope chart feels pressure from transiting Venus (ruler of money) conjunct natal Mercury (ruler of trading and commerce) for the first time since April 2018, when it was trading near the ascendant price conversion level of 1.2530. Also suggesting a peak is that the transiting Sun is conjunct with first-trade Jupiter, a transit that can bring peak expansion. A final damper is that the transiting Moon is opposite the market’s first-trade Venus. Formidable planetary price conversion resistance exists at 1.1360 to 1.1380 if nearby March can maintain breaking through the planetary price level of 1.1170.
Last Week’s Scorecard (through Thursday’s close)
Bullseye!
- High in S&P 500 on Tuesday, March 3: The first rally after the previous week’s 14% drop topped on the day before the index’s birthday at 3136.39 on surprise news that the Fed dropped interest rates by 0.5%. The level was near planetary price conversion resistance at 3124-3134.
Pretty Darn Good
- Low in Gold on Thursday, Feb. 27: This call gets “pretty darn good” only because it was one day ahead of the actual low. But that is tempered by understanding that it was nowhere near the low in price, with an unforeseen $75 per oz. drop to $1,564 per oz. the following day that was precipitated by selling related to equity market margin calls. Still, the ultimate low was within $10 of the planetary price conversion level of $1,573.
- Low in Crude Oil on Friday, Feb. 28: Prices bottomed the next trading day, Monday, March 2, at $43.85 per barrel, basis April, just below the ascendant price conversion level of $44.30. Price then rallied to $48.66 on March 3.
- High in Gold on Tuesday, March 3: April gold rallied to close $49.50 higher on this day, with the Sun conjunct first-trade Jupiter, to close at $1,644.40. The rally continued into Thursday, reaching $1,675.
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.
