For week of Feb. 17th: Markets closed on Monday for the President’s day holiday. The stock market came back to life after the Jupiter/Pluto opposition and Jan. 31st – Feb. 3rd turn period. The bullish Sun/Mercury trine to Mars completes over the weekend of the 15th. On Tuesday, the No. Node enters Libra; the Sun enters Pisces; Mercury squares Saturn. The rally is now likely to cool off and another reversal down on Tuesday or by Wednesday this week. Key planetary resistance for the Sun/Mercury trine Mars configuration for the E-Mini is now at 1839. Good trading to you!
Commentary on Gold: Another short term top is likely to come in by Tuesday if it did not already complete on Friday. The 1328 – 1335 level is the next upside planetary price target if the advance continues. Key planetary support is now at 1299 – 1293 on a pullback for the strength to continue.