For week of Dec. 30th: Happy 2014 wishes for a prosperous, healthy, and happy new year! The Sun/Mercury complete a conjunction and square Uranus over the weekend on the 28th and 29th. This leads to Mercury/Pluto square Mars on Monday/Tuesday. Markets closed on Wednesday for New Year’s day on the New Moon. Sun square Mars and Mercury opposed Jupiter on Thursday.
Key planetary support for the March E-Mini S & P at 1828 and resistance at the next year end upside target at 1844. These are likely to be good levels to buy or sell from on the key days of the week. This week’s key reversal days or turning points are likely to be on Monday, Tuesday, and Friday. Good trading to you!
Commentary on Gold: The Winter Solstice and Venus retrograde on Dec. 21st timed a reversal back up as expected. Feb. Gold still needs to break through 1224 to show more strength with the next near term planetary price target at 1250 – 1270.