(10 May 2023) US stocks ended higher Wednesday after the
latest CPI report showed another decline in annual inflation to 4.9%.
While the core inflation number was unchanged at 5.5%, markets
nonetheless welcomed the continued easing of price pressures as the
dollar and bond yields finished the day lower.
Stocks appear to be moving sideways in recent days as optimism from
falling inflation has been largely offset by ongoing concerns over the
banking system and the prospect of some political brinkmanship over the
impending US debt ceiling deadline on June 1 or thereabouts.
This mixed outlook may be reflected in the current planetary
influences. Bullish sentiment is due in part to the approaching
Jupiter-Pluto square. As is the case with most Jupiter alignments, this
pairing is usually bullish, even if the 90-degree square angle can be
less positive than other angles such as the conjunction or the
120-degree trine.
And yet Saturn is also an active influence through its ongoing
120-degree aspect from Ketu (South Lunar Node). While this alignment is
separating, it is still within effective range. More immediately,
however, we note that Mercury is backing into an alignment with Rahu
(North Lunar Node) and Saturn as it culminates its 23-day retrograde
cycle. Although it is a benefic planet by nature, Mercury is more
commonly associated with bearishness when it is aligned with malefic
planets such as Rahu and Saturn.
Mercury is due to end its retrograde cycle late in the evening (ET)
on Sunday, May 14 when it will station direct and resume its normal
forward motion. At the time of the station, Mercury will be in a
three-degree conjunction with Rahu and in near-exact 60-degree alignment
with Saturn. Taken together, these influences look bearish for market
sentiment.
Of course, since the station occurs when markets are closed on
Sunday, it is possible that some of the worst effects of this pattern
could be mitigated. Nonetheless, Mercury will be in close alignment
with both Rahu and Saturn for several days both before and after its
direct station. With that in mind, it is best to think of Mercury as
passing through a window of vulnerability where its normally benefic
nature can be subverted by negative influences.
This affliction therefore seems likely to coincide with a rise in volatility in the days ahead.
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which is published every Sunday. In addition to reviewing the key
planetary and technical influences on US and Indian stocks for the short
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Photo Credit: Dean Hochman
