For week of Nov. 25th: The Mercury/Saturn conjunction is on Monday at 05:55PM, pacific time. This points to Monday/Tuesday as the strongest key reversal day or turning point of the week. The October 8th low in the stock indices was when Mercury was conjunct Saturn. This time around, it’s pointing to another top or consolidation for awhile. Key planetary resistance for the DJIA and next hurdle is at 16063 and support is at 15975. A break below 15975 needed to show more weakness again. The S & P is testing and below longer term planetary resistance at 1790 – 1810. Good trading to you!
Commentary on Gold: The last Mercury/Saturn conjunction timed a top and change in trend back down on Oct. 29th. Gold is declining into the next Mercury/Saturn conjunction on Monday. This is likely to time another bottom and change in trend back up again by Tuesday. Gold is testing important planetary support for Mercury/Saturn at 1236 and at the .786 fib. retracement. If price breaks this support, the next downside target is at 1210 – 1201. Key planetary resistance is now at 1274 – 1283. A break out above 1283 is now needed to show more strength again in the daily time frame and to confirm another bottom has completed.