It should be mentioned the $1,460 level is very close to the Neptune price line as well. It is acting as resistance. See the grey line on the following daily chart.
The current level should be watched closely. Any break above on good volume may be pointing to the next fib retracement level at 161.8% (the golden mean) or $1,521 value for the SP500.
With the central banks of the world in print mode it is very difficult to forecast future levels of anything. Nevertheless, that is the purpose of this blog so on we go. The next few weeks should be very volatile, with a Martian flare (think conflict, explosions etc.). This should all be part of the social unrest and debt problems that have been with us for some time and unfortunately some time into the future.There maybe some Islamic phobia in the mix as well.
I'm am looking for a pullback into October before we start moving up once again. If nothing else the the Vernal Equinox and Autumnal Equinox (Sept 22) have often marked changes in trend in the markets and the events of mankind.
Mars will be conjunct the point of the November 13, 2012 total Solar eclipse in September 25th. I believe this will be a powerful Solar eclipse which will be covered in a future post.
Next weekend Sept 29 and 30 should also be eventful as the Sun will translate the Uranus / Pluto square while Mars is parallel Pluto on Sept 29. On Sept 30 the Full Moon will be translating the Uranus / Pluto square. Remember the Uranus / Pluto square is almost exact as it was conjunct on Sept 19.
On Oct 4th Jupiter will turn retrograde while it continues to be in it's detriment in Gemini. The same day Mars conjuncts the North Node which has a strong history near reversals in the stock market. Please remember any dates given are +- 3 trading days.
On Oct 5 Saturn and Mercury enter Scorpio and Oct 6 Mars enters Sagittarius, a fire sign. When Saturn enters Scorpio it will be in mutual reception with Pluto, that is they are both in the sign of the other planets rulership. This makes both planets stronger and can work together. Scorpio is a money sign. It has to do with money (assets), taxes, sex and death. Withe the other issues the world is dealing with I believe taxes will become a bigger issue than they are presently. This is a worldwide issue not tied to one particular country. With fleeting Mercury moving into Scorpio the same day we may see a quick focus on taxes that recedes just as quickly. Don't worry, it will be back. Any time planets change signs can be a potential for changes in trend in the markets.
We are also coming into another long term aspect on October 10, Saturn in waning trine to Neptune. Given a few months this signature has a correlation to crests in the four year cycle in the markets.
As stated in previous posts the next few months are prime time for larger earthquakes and volcanoes. The next couple of weeks are prime prime time. So is the period around the November 13 Solar eclipse. I don't have any trips lined up to Australia, New Zealand or the South Pacific, but if I did I would cancel them.
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