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941-594-3939(April 5, 2002) FINANCIAL INSTRUMENTS: The biggest event for bonds in March was Pluto going retrograde, March 20. Usually, this is a peak and bearish turning point. However, a good indication of the resolution for any such point is the set up leading to that energy point. In this case, the market clearly declined into 3/20, giving a strong indication for a possible low. In fact, June T-bonds made their low, so far, for calendar 2002 on 3/21, just one day later. Since March 21, the market has been trending higher via a nice pull back retest low on March 29 to coincide with the March 30 Helio Saturn 180 Pluto, which we mentioned last month.
The outlook for the coming month is not clear. There are two major countervailing forces at work which are due to culminate within one day of each other. Uranus parallel Pluto, which should be a negative force, is due to culminate on April 25. In contrast, Jupiter will be applying a parallel to the U.S. which is due to culminate on April 24. This implies positive influences for the U.S. within the context of some very negative forces for the international bond market and world banking picture. As you can see, the outlook is potentially very treacherous for both bulls and bears.
Technically, a continued up move for June T-bonds should be met by resistance in the 103-16 area. If this scenario is correct, look for a minimum pullback of about $3.
KEY DATES--4/8, 4/10, 4/15, 4/22, 4/24, *4/26-29*, 5/1, 5/3 AC.
3/01 USM close 101-26. 4/05 USM close 100-19.
Norman Winski
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