Financial / stock market this week- November 12
All world stock indices plunged last week. It is mostly sub-prime mortgage woes, or credit concerns dragging the sentiments now. Dow is down now from 14000 levels and testing 13000 levels. On the other hand, the Euro currency continues its blow-off to new all-time highs, while the Dollar falls to new all-time and multi-decade lows against other currencies. Gold tested its all-time last week, reaching $848.00 on Wednesday, November 7. Silver soared to a multi-year high of $16.27 on the same day in the overseas markets. Crude Oil also put in another new all-time high on the same day, as it hit $98.62.barrel.
Mars will turn retrograde on November 15, something it does every 25-26 months, followed by Uranus on November 24. I discussed last week about gold price could see some sharp swings near November 14. The large price swings could continue as this week begins with the “Sagittarius Factor” (Moon in Sagittarius) on Monday. The week also begins with a waning square between the Sun and Neptune, a Level 1 signature for stocks that also has tendency to coincide with rumors and misinformation or poor analysis of the situation.
On positive side, Venus has now moved into the sign it rules—Libra—on November 8, where it remains through December 5.
On conclusion, start of the week could be little bearish. Gold and Silver prices could see sharp swings near November 15. Sub-prime concerns, real estate or credit concerns will be here until mid 2008. November 24 and December 12 are two milestones after November 15 for major price swings.
