My regular readers know that earlier this year I had forecast a difficult year for the stock market. Six planets retrograde over the summer and a difficult aspect between Jupiter (optimism and prosperity) and Saturn (discipline and disappointment) filled me with trepidation over the financial markets. Evidently I was not alone: Henry Weingarten, one of the foremost financial astrologers in the US and manager of the Astrologers Fund, also predicted a “hellish stock market and a recession.”
Why was he so wrong about 2006? Mr. Weingarten based his outlook on his expectation that another terrorist attack would occur on American shores this year, and that the country would be going into a recession in the third or fourth quarter.
Although admittedly wrong, our stargazer says certain market trends, coupled with some astrological readings with a distinctly negative bias, pretty much ensure grim tidings ahead.
While the market could stage a brief rally in January, things will change radically before the end of the month, he says. In brief, he expects the market to “come down hard” by March 30, with the Dow falling between 500 and 1,000 points. An even bigger drop — on the order of 10% to 20% — is seen occurring during the same time period in the Nasdaq, which he believes is now totally stalled.
I disagree with this assessment. I feel that the stock market remained strong because of the determined optimism of Jupiter’s passage through Scorpio, which rules other people’s money and therefore the stock market, as well as the continued travel of Pluto through Sagittarius and its irrational exuberance. The astrological indicators are relatively benign for 2007. Except for the ongoing opposition of Saturn […]