(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.
For more details, check out my weekly subscriber newsletter which is published every Sunday. In addition to reviewing the key planetary and technical influences on US and Indian stocks for the short and medium term, I also provide an astrological analysis of potential upcoming moves in currencies, gold and oil.
These updates are usually posted midweek. You can be notified of new posts by following me on Twitter.
Photo Credit: Dean Hochman
