Turning Points – A Technical Analysis and Astrological Market Letter

Yesterday's trading activity was very bearish with the high put in at 9:35 AM and the low very near the close. There was a rally at 10:10 AM till 12 PM .This has been the pattern since last Wednesday's ADP Employment number. Another factor which may have weighed on the day was speculation about Steve Jobs health. The market traded below the lower Bollinger Band for the 2nd day in a row. The market sliced through the 62% retracement of the last swing (3/17 low-5/2 high). The daily low occurred at the midpoint of the 62% and the 76.4% retracement. At the present time that level has held in overnight trading (8 AM). Looking ahead the short term cyclical forecast is....