Market Astrology: A Look At Financials For May 3, 2012

In my article on April 24th I suggested that May 3rd is a critical day, and could bring downside pressure in the markets, with the financial sector at risk for another setback. There could be news on May 3rd regarding adjustments to the bank stress tests that would not be favorable for the banks that are too big to fail. Overall the trend could continue through the month of May, with more pressure in the financial sector on May 18th and into the end of the month. There is also potential for another U.S. Downgrade that could be in the news in May. In my view there could be growing concerns with state and municipal debt, including a potential default in California that may be contributing to a possible U.S. downgrade. We most likely won't see a downgrade here however the potential for another U.S. downgrade is very high on August 15, 2012. We could see downside pressure, however there is a very positive transit in the U.S. astrology chart with Neptune making a trine to Venus. The influence could bring upswings in certain sectors, despite more unemployment and foreclosures, that I have outlined in my Astrology Traders Service. The positive transit with Neptune will help the markets and possibly reverse a major decline. Chart: Financial Select Sector SPDR XLF courtesy of Zentrader & StockCharts.com