(26 April 2023) Stocks have moved lower so far this week on
renewed banking sector fears after First Republic Bank reported a
shocking loss of 40% of its deposits in the first quarter. Not even
earnings beats from tech giants Microsoft and Google were enough to
offset the banking jitters and the pessimistic forward guidance of
transportation bellwether UPS. As Dow theory tells us, underperformance
by transportation stocks suggests the broader markets will likely trend
lower over time. It’s not a good omen.
This week’s decline is a clear manifestation of a double affliction
to the Sun. The Sun (10 Aries) was not only conjunct Rahu (North Lunar
Node) on Monday and Tuesday, but it was also under the simultaneous and
exact 3rd house/60 degree aspect of Saturn (10 Aquarius). Since both
Rahu and Saturn are considered malefics, it is not surprising that this
double affliction to the Sun should have coincided with a loss of
investor confidence and a market decline. In astrology, the Sun
symbolizes confidence and vitality.
Sentiment was even more likely to be damaged since this difficult
Sun-Rahu-Saturn alignment occurred near sensitive points in some
relevant market horoscopes. For example, the Ascendant (8 Aries) of the
NASDAQ chart (Feb 8, 1971) is directly impacted by this malefic
alignment as it is only 2 degrees from the Sun-Rahu conjunction.
Saturn’s square aspect to the Jupiter-Neptune conjunction has also not
With Rahu and Saturn now moving past their exact alignment, it could
be that the market may be in a better position to rebound. While that is
possible, I would note that Rahu, which always moves in retrograde
motion, is approaching its exact conjunction with the Ascendant at 8
Aries. This could destabilize the market for a while longer, even if
the Saturn influence is diminishing in the coming days.
We should carefully monitor the movement of retrograde Mercury here,
since it is next to fall under the exact aspect of Saturn. It will form
an exact 60 degree aspect with Saturn between May 11 and May 18 just as
it completes its retrograde cycle. Mercury is due to station direct on
May 14 at 11 Aries when it will resume its normal forward motion and
begin to escape from the pessimistic and disruptive influences of Saturn
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Photo Credit: Ryan McKnight