16 November 2019 Volume 12, Issue 47

Summary for week of 18 November 2019

 Stocks with increasing downside risk, especially midweek

 Dollar looks weaker, especially in first half
 Crude oil looks mixed with slight bearish bias
 Gold with bullish bias this week

US Stocks

As they say, don’t fight the Fed. Stocks

extended their melt-up again last week as
White House trade deal jawboning and more
dovish comments from Fed Chair Powell
outweighed weaker economic data. The Dow
added more than 1% on the week to 28,004
while the S&P 500 finished at 3120. This
bullish outcome was unexpected as I thought
we might have seen more selling in the middle
of the week. While the indexes tested support
on Wednesday, bulls took over for the rest of
the week.

Stocks are really overbought here but what

else is new? With the Fed buying up
Treasuries through its notQE program and
keeping overnight lending rates stable, there is
a zombie-like melt-up mood in the market
these days following the October breakout at
3025. Prices are extending their climb as
FOMO late-comers take their turn to ride the
equity train higher. Bulls are believers in the
October breakout and liken it to the Trump
rally breakout of late 2016 and 2017.
Certainly, we cannot rule out the possibility
that stocks have reached a new plateau and
may be headed higher. However, everything seems to be priced to perfection. Aside from the usual
trade deal melodrama, the market hasn’t had to confront any major new developments. Negative events
could force a quick rethinking at these lofty valuations.

The planetary outlook is broadly supporting this push higher. To be sure, I thought there was a decent
chance for a pullback in the second half of November but there is no evidence of that thus far. I still
think we could see some kind of pullback here by Thanksgiving but the overall bias is still bullish as we
head into December. There is a potentially important Jupiter-Uranus-Chiron alignment in mid-
December that suggests another upward thrust before Christmas is likely, whether or not the indexes
decline in late November. But looking beyond December, the outlook in Q1 2020 deteriorates
significantly as the planetary alignments look more challenging with Jupiter conjoining Ketu and Saturn
conjoining Pluto.

The technical outlook is just about as bullish

as it gets. The indexes are at new highs as
improving breadth is largely confirming the
highs. There are new highs on the Bullish
Percent Index and the Advance-Decline line
as well the percentage of stocks above their 50
DMA. The daily SPX chart is getting
overbought as RSI is now at 74. This doesn’t
mean stocks must correct immediately but it is
a hint that when a decline does come it could
surprise on the downside. The higher high on
the SPX is following a pattern that began at
the January 2018 high which has seen
incrementally higher highs followed by a
sharp pullback. This has created the
broadening top/megaphone pattern. But bulls
are focusing on the November move above
that megaphone resistance line as a signal for
a sustained rally higher in the coming months.
Bears have been chastened in recent weeks
although they are still hoping that the
breakout is a fake out in which price falls back
below resistance/support at 3080.

If we do see that long-awaited pullback, key

support will be at the 3075-3080 level which
is also rising wedge support. A close below 3075 could lead to a retest of the horizontal breakout level
at 3025. And despite the recent strength, there is no guarantee that 3025 will hold as support. A move
down to 2950 is still not out of the question in the near term. While breadth has been fairly strong,
bonds are still skeptical of the current melt-up rally. Last week’s stock/bonds ratio (SPY:TLT) candle
was negative despite the 1% rise in stocks. Bonds rallied last week as the 10-year yield hit resistance
from the falling trend line at 1.9-2.0%. Yields have put in a higher low once again suggesting that a
move above 2.0% is still very possible in the near term. However, if yields cannot move above that key
trend line at 2%, then stocks will find it harder to move significantly higher. Conversely, a breakout
above 2% would confirm the bullish move in stocks and would likely see a push towards the ascending
triangle price target of 3225.

This week again holds some hope for bears.

The Planet Cycle Index has a slight bearish
bias this week and we can also see some
possible down days this week in the Transit
Event chart. Mercury is due to end its
retrograde cycle on Wednesday the 20th while
in alignment with the North Lunar Node. This
is often a negative influence. In addition,
Mars will form minor alignments with
Neptune and Pluto during midweek so that
should produce some downside. Now just
how much downside we can expect is another
question since negative transit set ups last
week barely moved the needle at all. This week has a real chance for more normal declines since we are
in the week after monthly Opex which is often more volatile. If some downside is likely by midweek,
then Monday may be more likely to produce some upside as the Sun aligns with Jupiter. I would not be
surprised to see any early week rally extend into Tuesday either as the Moon aligns with Jupiter. If
Monday is down, however, then a rebound on Tuesday is more likely. That could then be followed by
more selling on Wednesday and possibly Thursday. Friday may be more bullish, however, as Venus
enters Sagittarius and conjoins Jupiter. Overall, higher highs are possible during this week but we may
finish off the highs.

Next week (Nov 25-29) leans bearish to start.

There is a bearish Sun-Mars-Uranus
alignment which should coincide with at least
one down day, possibly on Monday or
Tuesday. Wednesday is a short trading day
before Thanksgiving and looks more bullish
as the Moon conjoins Venus and Jupiter.
Friday’s session leans bullish. Perhaps we
will finally test some support levels like 3075,
or even 3025 during the week. If the
preceding week shows signs of a top and
reversal (e.g. gravestone doji, or black candle)
then there is a reasonable chance for some
follow through on the downside.

The following week (Dec 2-6) also has a bearish bias at the start of the week as Mars aligns with Venus
and Ketu (South Lunar Node). While I am generally bullish for the first half of December, there is a
possibility for some declines here in the early days on this pattern. The second half of the week looks
more bullish, however. As we move into mid-December, I would have a bullish bias as Jupiter aligns
with Uranus and Chiron on the 15th or so. The up trend could even extend right into Christmas given the
Sun-Jupiter conjunction at that time. But bulls should be extra cautious towards the end of December as
Saturn will approach its conjunction with Pluto and Jupiter will conjoin Ketu. Both have elevated
downside risks which are likely to coincide with a correction, most likely beginning in January and
February. It is difficult to estimate possible price targets but there is a reasonable chance for at least a
10% (300 pt) decline in Q1. After a strong rebound in March and April, another downward move is
likely in Q2. Since I am generally bearish for 2020, I would expect lower lows by Q2 and Q3.

Planet Cycle Index

In order to convey a more comprehensive picture of bearish and bullish probabilities, the Planet Cycle
Index is a weekly summary of some of the relevant influences on market sentiment. Each data point
represents the sentiment bias of a particular cycle chart as estimated on a weekly basis. Here I am using
cycles based on the NYSE 1792 horoscope and the S&P500 1957 horoscope, for both geocentric and
heliocentric frames of reference. The Index includes the 27-day and 13-day cycles. Other cycles may
be added in the future.

Reading the dot plot chart is straightforward. If 50 is neutral, the more data points above 50 for a given
week, the more likely sentiment will be bullish and vice-versa. A bullish chart should have a majority of
data points above 50.

US -- Planet Cycle Index

100
NYSE 27d
75 NYSE 13d
NYSE H 27d
NYSE H 13d
50
SP500 27d
SP500 13d
25 SP500 H 27d
SP500 H 13d
0
4-Nov

11-Nov

18-Nov

25-Nov
21-Oct

28-Oct

2-Dec

9-Dec

16-Dec

23-Dec

30-Dec
Transit Events

The Transit Event chart reviews some of the relevant transit influences on a daily basis. While each day
will have a variety of transit hits with difference influences, they will often skew one way or the other –
bullish or bearish. The more data points above the 50 line, the greater the chances that day for a gain.

US Transit Events Nov 18 - 29

100

75

50

25

0
17-Nov

18-Nov

19-Nov

20-Nov

21-Nov

22-Nov

23-Nov

24-Nov

25-Nov

26-Nov

27-Nov

28-Nov

29-Nov

30-Nov
Technical Trends Astrological Indicators Target Range

Short term trend is UP bearish (disconfirming) SPX 3050-3100

(1 week ending Nov 22)

Medium term trend is UP bullish (confirming) SPX 3100-3250

(1 month ending Dec 22)

Long term trend is UP bearish (disconfirming) SPX 2300-2600

(1 year ending Nov 2020)
Indian Stocks

Stocks were generally flat on the week as

guarded domestic sentiment offset more
positive global cues on trade. The Sensex
rose by just 33 points on the week to 40,356
while the Nifty finished slightly lower to
11,895. While I had a modest bullish bias,
this neutral outcome was not wholly
unexpected. While Monday looked mixed,
the midweek declines coincided closely with
the Mercury-Saturn alignment. Similarly,
Friday’s rebound was not surprising given the
bullish Moon-Jupiter aspect. Thursday’s
intraday low also fulfilled last week’s
expectations for a test of support at 11,800 on
the Nifty.

Not much has changed in the past week. The

domestic mood is still cautious in the wake of
the downgrades but liquidity continues to flow
freely throughout most world markets. US
and European markets have moved higher on
the likelihood of more QE and very
accommodative policies. Indeed, US stocks
have rallied without interruption ever since
the Fed announced it would buy $60 Billion
Treasury bills per month back in October.
India is likely to benefit at least indirectly as FIIs seek out riskier, higher yielding assets in emerging
markets. However, it is more difficult to see what the impact may be of the never-ending trade
negotiations between the US and China. If a deal is ever done, it may well prove to be a sell-the-news
event since the US administration has been talking it up for months in order to keep stocks afloat ahead
of the 2020 election. Trump is keen to ensure that the US stock market is at or near all-time highs
during the fall campaign. That will likely translate into some kind of deal at some point.

The planetary outlook looks mixed for the rest of November. There is an absence of any major
alignments involving bullish Jupiter or bearish Saturn for the next two weeks. That suggests that large
moves in either direction are less likely. Jupiter is more likely to strengthen in December as it aligns
with Uranus and Chiron so that may coincide with some upward movement. A higher high is therefore
possible in December, although it will depend on how the rest of November plays out. If we get a
modest period of consolidation, then higher highs in December look like a reasonable bet. Beyond
December, however, the picture is still looking bearish. Bullish Jupiter will be damaged through its
conjunction with Ketu in January while bearish Saturn will be energized by its conjunction with Pluto.
Bulls should therefore practice greater caution as we close out 2019 and enter 2020.
The technical outlook also offers an argument
for a mixed market. Last week saw the
indices go sideways just under their highs.
This is typical bull market behaviour after a
rally. Thursday’s low bounced off support at
the 20 DMA and 11,800 and gave bulls a
chance to retest the all-time high at 12,103.
However, Friday’s gravestone doji reflected
some reluctance so an imminent retest of the
highs is far from certain. Indeed, if this week
starts off without any fresh upside, a move
down to 11,700 may be on the cards. I would
be surprised if buyers didn’t move in
aggressively at that level, however, as there is
considerable horizontal support.

Some additional downside does seem a bit

more likely here after the bearish crossover in
MACD and the move below the 80 line in
stochastics. And yet, last week did produce
the golden cross of the 50 and 200 DMA
suggesting the path of least resistance is up.
The situation would only become more
complicated if there is a close below 11,700.
This could lead to an extended sideways move
between the 200 and 50 DMA at 11,400 and
resistance at 11,700. The weekly BSE chart has printed its second straight doji indicating indecision. In
the short term, we are likely to stay in last week’s range but if 40,000 is broken to the downside, then we
could see 39,400 tested fairly quickly. Meanwhile, Tata Motors remained in a bull flag pattern last week
as price stayed above the 200 DMA at 162. The chart is still looking bullish after the earnings breakout
and argues for more upside. The chart would become more neutral if 150 was broken on the downside.
ICICI Bank extended its rally last week although Friday’s gravestone doji suggested some consolidation
may be coming soon. The strong bull trend will remain intact as long as it stays above the previous
high of 480. Even a retest of the 20 DMA at 469 would not necessarily compromise the bullish potential
here.

This week lacks clarity. The Planet Cycle Index is quite compressed this week suggesting a large move
in either direction is unlikely. The Transit Event chart has a mix of bullish and bearish days. The
midweek may be more vulnerable to declines as Mercury ends its retrograde cycle while in alignment
with Rahu. The early week leans bullish, however, as the Sun aligns with Jupiter on Monday. We could
even see two positive days on Monday and Tuesday. Nonetheless, Wednesday and perhaps Thursday
could be bearish. Venus enters Sagittarius on Thursday and should provide a boost for sentiment
towards the end of the week. Friday leans more bullish than Thursday. Given the mix of influences
here, we could see the Nifty trade in its current range of 11,800 and 12,000. I would not rule out a test
of 12,100 although that may be a bridge too far for bulls this week. Let’s see.
Next week (Nov 25-29) looks more bearish.
The early week in particular seems most
vulnerable to declines on the Sun-Mars-
Uranus alignment from Monday to
Wednesday. Monday has some bullish
potential on the Venus-Jupiter conjunction but
that seems suspect. Nonetheless, even if
Monday is bullish some downside is quite
likely going into Tuesday and perhaps
Wednesday. This looks likely to negate any
possible preceding upside on Monday. The
late week looks less bearish although not quite
solidly bullish either. I would expect some
downward pressure and a test of key support here, possibly 11,800 or 11,700.

The following week (Dec 2-6) looks less

bearish. Monday leans bullish although
Tuesday and Wednesday could see some
downside as Mars aligns with Venus and
Ketu. The late week may see the bulls take
control again as the Sun aligns with Venus.
Generally, I think December leans bullish on
the Jupiter-Uranus-Chiron alignment so bears
may have to be patient. Higher highs are
possible as long as any potential late
November pullbacks haven’t broken key
support at 11,400. I don’t think that is likely
so higher highs may well occur in December,
possibly up to 12,400 which would be near rising trend line resistance dating from 2015. Late
December could see a pullback, however, as Jupiter approaches its conjunction with Ketu. The
approaching Saturn-Pluto conjunction in January also increases downside risk for Q1 2020 so bulls
should be careful. Even if we get a higher high in December, there is a real risk of a significant decline
early in 2020. After a rebound in late February and March, another decline is likely in Q2 as Jupiter will
conjoin Saturn for much of the year. This could well produce lower lows and therefore make a bear
market more likely. An interim low is possible sometime late in Q3. Stocks should rebound in Q4.
Planet Cycle Index

In order to convey a broader picture of bearish and bullish probabilities, the Planet Cycle Index is a
weekly summary of some of the relevant influences on market sentiment. Each data point represents the
sentiment bias of a particular cycle chart as estimated on a weekly basis. Here I am using cycles based
on the BSE 1875 horoscope and the NSE 1994 horoscope, for both geocentric and heliocentric frames of
reference. For the moment, I am focusing only on the 27-day and 13-day cycles. Other cycles may be
added in the future.

Reading the dot plot chart is straightforward. If 50 is neutral, the more data points above 50 for a given
week, the more likely sentiment will be bullish and vice-versa. A bullish week should have a majority
of data points above 50.

India -- Planet Cycle Index

100

BSE 27d
75 BSE 13d
BSE H 27d
BSE H 13d
50
NSE 27d
NSE 13d
25 NSE H 27d
NSE H 13d

0
04-Nov

11-Nov

18-Nov

25-Nov
21-Oct

28-Oct

02-Dec

09-Dec

16-Dec

23-Dec

30-Dec

Transit Events

The Transit Event chart reviews some of the relevant transit influences on a daily basis. While each day
will have a variety of transit hits with difference influences, they will often skew one way or the other –
bullish or bearish. The more data points above the 50 line, the greater the chances for a gain that day.
 India Transit Events Nov 18 - 29

100

75

50

25

0
17-Nov

18-Nov

19-Nov

20-Nov

21-Nov

22-Nov

23-Nov

24-Nov

25-Nov

26-Nov

27-Nov

28-Nov

29-Nov

30-Nov
Technical Trends Astrological Indicators Target Range

Short term trend is UP neutral (confirming) 11,800-12,000

(1 week ending 22 November)

Medium term trend is UP bullish (confirming) 11,900-12,500

(1 month ending 22 December)

Long term trend is UP bearish (disconfirming) 9,000-11,000

(1 year ending Nov 2020)
Currencies

The Dollar pulled back last week on weak

manufacturing data and more dovish
testimony from Fed Chair Jay Powell. The
USDX fell half a cent to 97.87 while the
Dollar-Yen also slipped to 108.81 and the
Euro settled at 110.55. This bearish outcome
was unexpected as I thought the Mercury-
Venus-Saturn alignment might have triggered
some buying.

I am generally bearish on the Dollar over the

medium term although I am uncertain if the
move lower has already begun. While time
may be running short for a significant move to higher highs, I would not rule out a retest of the high at
99.25.

With the Fed still in full easing mode, the Euro may be in a better position after improving German
economic data and the growing likelihood of a Boris Johnson election win and a Brexit deal. Incoming
ECB President Lagarde is due to speak on Friday and could provide new guidance for the upcoming
year.

The Dollar is finding support here above the 20 DMA but there is some risk of another quick test of the
200 DMA. After a possible lower high, any subsequent test of the 200 DMA at 97 could bring a break
down. The previous low of 95.5 looms large as bulls would need to defend that level in order to keep
the bullish pattern of higher lows intact. But if 97.5 can hold here, then a move back to up 99 is still
very possible.

The Dollar-Yen is still confronting significant

resistance at 109 and the convergence of the
20 and 200 DMA. While the tighter trading
range could presage a bullish breakout, the
rising wedge pattern contains some bearish
potential. Key support may be 108 below
which there could be more downside. This
would likely be bearish for stocks as well.
Conversely, anything north of 109 is likely
going to be bullish for equities.

This week leans bearish, especially in the first

half of the week. Monday’s Sun-Jupiter
alignment could see some more downward pressure on the Dollar which could extend into Tuesday and
the Moon-Jupiter alignment. The second half of the week may be more positive, however, so a bounce
is possible, especially if support has been tested. If the downside takes place, we could see the 200
DMA tested again here.

Next week (Nov 25-29) leans bullish as Mercury aligns with Neptune midweek. I would not necessarily
expect a major move higher but some kind of rebound looks possible. December sees downside risk
increase, however. The Mars-Venus alignment in first week of December looks bearish and has the
potential to damage sentiment. A break below the 200 DMA is therefore something to consider here. If
December looks bearish, then a rebound may be more likely in January and into early February as
Saturn conjoins Pluto. This looks like a sizable rebound although I am uncertain how strong the
rebound will be relative to any preceding sell-off in Nov-Dec. I think the Dollar is likely to trend lower
throughout 2020 so a lower high in February is something to watch out for. Another pullback is likely
in Feb-March which could then establish the down trend.

Technical Trends (Dollar) Astrological Indicators Target Range

Short term trend is DOWN bullish (disconfirming) 97-98

(1 week ending Nov 22)

Medium term trend is DOWN bearish (confirming) 95-97

(1 month ending Dec 22)

Long term trend is UP bearish (disconfirming) 90-94

(1 year ending Nov 2020)

Crude oil

Crude oil moved higher last week as trade

deal optimism outweighed sagging US
economic data. WTI gained 1% for the week
at $57.72 while Brent settled Friday at $63.30.
This modestly bullish outcome was in line
with expectations as I thought the mix of
influences argued against a big move in either
direction. The early week was surprisingly
bearish, however, although Friday’s gain aptly
reflected the Moon-Jupiter influence.

The technicals are improving after Friday’s

close above the 200 DMA. Could this be the
start of a major breakout higher? It’s certainly possible after the five-month long bottoming process we
have seen since June. The moving averages are starting to look more promising as the 20, 50 and 200
DMA are all sloping upwards. If prices continue to rally, we could even see a golden cross of the 50
and 200 DMA over the next week or two.

However, there is a lot of overhead supply at $58-60 which may take some time to absorb. Bulls will
want to see higher lows so the 20 and 50 DMA will have to act as support around $56. A close below
that level could lead to a retest of the previous low at $54. This would still be a bullish higher low but it
would be a make-or-break situation for the bullish case. Based on the October low of $51 for WTI, the
measured move upside target is near $60.

The weekly Brent chart also looks a bit more

bullish these days. It is fast approaching
falling trend line resistance at $65, however,
so it may take some time to break above that
key level. Even a bullish scenario would
likely allow for several weeks consolidation
underneath such a key resistance level. Bulls
will have to ensure that consolidation creates
only a shallow pullback with higher lows that
remain above $60.

This week looks mixed with a somewhat more

bearish bias. The early week has some upside
potential as the Sun and Moon align with Jupiter on Monday and Tuesday. Tuesday looks more bullish
than Monday so if Monday turns out to be bearish, then there is a better chance for a rebound on
Tuesday. However, some downside is more likely by Wednesday as Mercury aligns with Rahu (North
Lunar Node). Thursday also has some downside potential, albeit less so. Friday leans bullish as Venus
conjoins Jupiter. The Planet Cycle Index looks less bullish this week compared with last week so bulls
should be cautious. That said, the transits are quite mixed so I would also not be surprised if the week
finished in the green.

Next week (Nov 25-29) also has a bearish bias. The early week Sun-Mars-Uranus alignment seems
likely to produce one or two down days, and they may be significant. While a recovery is more likely
by Wednesday ahead of the Thanksgiving holiday on Thursday, Friday’s Mercury-Saturn alignment
suggests an elevated downside risk. The week overall may be more bearish than the previous week.

The following week (Dec 2-6) is hard to call. The Planet Cycle Index leans bearish the week but the
transits are more mixed. The early week Venus-Mars alignment looks somewhat bearish but the
midweek Sun-Venus configuration looks more bullish. I would lean bullish overall here, in part because
I think the odds favour some upside in December.

If we have seen some consolidation in late November, then December favours at least another test of
resistance at $60/65, if not a breakout higher. Some kind of pullback looks likely by late December and
it could well extend into January although that is far from clear. Q1 2020 may be fairly mixed although
some significant downside is more likely in Q2.
Planet Cycle Index

In order to convey a more comprehensive picture of bearish and bullish probabilities, the Planet Cycle
Index is a weekly summary of some of the relevant influences on market sentiment. Each data point
represents the sentiment bias of a particular cycle chart as estimated on a weekly basis. Here I am using
cycles based on the Brent horoscope and the USO ETF horoscope, for both geocentric and heliocentric
frames of reference. For the moment, I am focusing only on the 27-day and 13-day cycles. Other cycles
may be added in the future.

Reading the dot plot chart is straightforward. If 50 is neutral, the more data points above 50 for a given
week, the more likely sentiment will be bullish and vice-versa. A bullish week should have a majority
of data points above 50.

Crude Oil -- Planet Cycle Index

100
Brent 27d
Brent 13d
75
Brent H 27d
Brent H 13d
50
USO 13d
USO 27d
25
USO H 13d
USO H 27d
0
04-Nov

11-Nov

18-Nov

25-Nov

06-Jan
28-Oct

02-Dec

09-Dec

16-Dec

23-Dec

30-Dec

Transit Events

The Transit Event chart reviews some of the relevant transit influences on a daily basis. While each day
will have a variety of transit hits with difference influences, they will often skew one way or the other –
bullish or bearish. The more data points above the 50 line, the greater the chances for gains that day.
 Crude Oil -- Transit Events Nov 18 - 29

100

75

50

25

0
17-Nov

18-Nov

19-Nov

20-Nov

21-Nov

22-Nov

23-Nov

24-Nov

25-Nov

26-Nov

27-Nov

28-Nov

29-Nov

30-Nov
Technical Trends Astrological Indicators Target Range (WTI)

Short term trend is UP neutral (confirming) $55-59

(1 week ending 22 Nov)

Medium term trend is DOWN bullish (disconfirming) $56-66

(1 month ending 22 Dec)

Long term trend is DOWN bullish (disconfirming) $70-90

(1 year ending Nov 2020)
Gold

Gold was modestly higher last week as dovish

testimony from Fed Chair Jay Powell
underlined its safe haven appeal. Gold added
six dollars on the week to 1468. While this
bullish outcome was not unexpected, the week
unfolded rather differently from expectations
as I mistakenly thought the second half of the
week could be more bearish.

The technical outlook is uncertain in the short

term. Gold is still trading within the falling
channel off the September high and tested
support at 1446 last week. The subsequent
modest bounce suggests that channel support
is holding for now. Bulls will be looking for
an eventual test of channel resistance at 1500-
1510. Bears may be hoping for a retest of
last week’s low which thereby opens up the
possibility of a break down. The next support
level would be 1350-1375 which is a bit
below the 200 DMA at 1398. However, the
horizontal support at 1440-1450 looks fairly
solid and makes the breakdown scenario less
likely. Any close above 1510 could signal a
bullish breakout from the falling channel and
may produce a retest of the high of 1566.

This week also leans bullish. As it happens, the Planet Cycle Index actually looks more bearish than it
did last week so the indications here are very mixed and ultimately uncertain. But the Transit Events do
lean bullish as the early week Sun-Jupiter alignment could coincide with some upside, perhaps to the
next horizontal resistance level of 1480 and the 20 DMA. While some downside is likely around
midweek I’m uncertain if it will offset any early week gains. The late week Venus-Jupiter conjunction
looks bullish and could cast the deciding vote on the week.

Next week (Nov 25-29) looks choppy with possible moves in both directions. I would maintain a
bullish bias although the indications are still fairly mixed. Monday leans bullish but the Sun-Mars-
Uranus alignment is likely to produce at least one down day sometime in the first half of the week. The
second half of the week looks more bearish, although the Thanksgiving holiday on Thursday will reduce
trading volumes.

The following week (Dec 2-6) may see further gains although the early week may be bearish on the
Mars-Venus alignment. December overall has a bullish bias given the Jupiter-Uranus-Chiron alignment
that peaks on the 15th although its effects may last beyond that date. Even if late December sees a
pullback, I would not expect much technical damage to the bullish case. Early January looks bullish so
we should consider the possibility of a retest of 1566. Gold looks more bearish by mid-January and the
entry of Saturn into Capricorn. I would expect a significant pullback/correction during January and
early February. February and March look more bullish, however. With the indications for Q2 looking
mixed, gold may be a in better position to rally again later in 2020.

Planet Cycle Index

In order to convey a more comprehensive picture of bearish and bullish probabilities, the Planet Cycle
Index is a weekly summary of some of the relevant influences on market sentiment. Each data point
represents the sentiment bias of a particular cycle chart as estimated on a weekly basis. I am using the
13-day and 27-day cycles based on the Gold (1919) horoscope and the GLD ETF horoscope, for both
geocentric and heliocentric frames of reference.

Reading the dot plot chart is straightforward. If 50 is neutral, the more data points above 50 for a given
week, the more likely sentiment will be bullish and vice-versa. A bullish week should have a majority
of data points above 50.

Gold -- Planet Cycle Index

100
GLD ETF 27d
GLD ETF 13d
75
GLD ETF h 27d
GLD ETF h 13d
50
Gold 1919 27d
Gold 1919 13d
25
Gold 1919 h 27d
Gold 1919 h 13d
0
4-Nov

11-Nov

18-Nov

25-Nov

6-Jan
28-Oct

2-Dec

9-Dec

16-Dec

23-Dec

30-Dec
Transit Events

The Transit Event chart reviews some of the relevant transit influences on a daily basis. While each day
will have a variety of transit hits with difference influences, they will often skew one way or the other –
bullish or bearish. The more data points above the 50 line, the greater the chances for gains that day.

Gold Transit Events Nov 18 - 29

100

75

50

25

0
17-Nov-19

18-Nov-19

19-Nov-19

20-Nov-19

21-Nov-19

22-Nov-19

23-Nov-19

24-Nov-19

25-Nov-19

26-Nov-19

27-Nov-19

28-Nov-19

29-Nov-19

30-Nov-19

Technical Trends Astrological Indicators Target Range

Short term trend is UP bullish (confirming) 1450-1480

(1 week ending 22 Nov)

Medium term trend is UP bullish (confirming) 1500-1570

(1 month ending 22 Dec)

Long term trend is UP bullish (confirming) 1600-1900

(1 year ending Nov 2020)
 Disclaimer: For educational purposes only. The MVA Investor Newsletter
does not make recommendations for buying or selling any securities. Any losses that
may result from trading are therefore the result of your own decisions. Financial astrology
is best used in conjunction with other investment approaches.
Before investing, please consult with a professional financial advisor.
©2019 Christopher Kevill