For week of Feb. 3rd: The markets are now at an important crossroad as Jupiter completed the opposition to Pluto on Friday, Jan. 31st. The planet Mercury turns retrograde again on Thursday, Feb. 6th at 01:43PM, pacific time.
The S & P consolidated in a range last week, testing the December lows. Key planetary support is at the 1771 – 1767 area to hold for another turn around back up. A break below 1767 is another sell signal. This week’s key reversal days or turning points in all markets are likely to be on Monday and Friday. Good trading to you!
Commentary on Gold: Key planetary support for April Gold is now at 1231 to hold for another turn around this week. A break below 1231 and the next target is at 1217. Key planetary resistance is now at 1253 – 1257. A break out above 1257 is now needed to show more strength for another turn back up again this week.