Optimism Abounds on November 8 Red Letter Trading Day

Jupiter enters the optimistic and freedom-loving sign of Sagittarius for a 13-month stay.

Optimism Abounds

By Susan Abbott Gidel
November 7, 2018

(All times Eastern)

The stock market’s gap-higher reaction to the mid-term elections looks to have gotten a jump on Jupiter’s move into Sagittarius at 7:38 am on Thursday, November 8. Jupiter rules the sign, so is quite strong regarding optimism, freedom, justice and truth. Jupiter stays in Sagittarius through December 2, 2019.

Jupiter is the planet that expands what it touches, and in equities, the following sectors could benefit from Jupiter’s positive vibe– sports, sporting goods, horses, travel, advertising, international commerce, law, higher learning and religious institutions. In commodities, Jupiter rules oats. But, for oats, Jupiter expands the supply of oats, so prices feel pressure.

Jupiter in Sagittarius
Jupiter stays in a single sign about one year, so is in Sagittarius above every 12 years. Here’s how the stock market behaved during those previous stays:

  1. November 25, 2006-December 19, 2007—Generally bullish, starting from about 1400 in the S&P 500 and ending at about 1470. Included the pre-2008 financial crisis high of 1526 in October 2007.
  2. December 10, 1994-January 3, 1996—Generally bullish, starting from about 450 and ending at about 615 in the S&P 500.
  3. December 27, 1982-January 9, 1984—Supported the new bull market that had begun in August 1982.

Based on astrological transits at previous highs, the S&P 500 could make at least a short-term high on November 8.

Thursday’s reports include:

  • 8:15 am  Canada Housing Starts
  • 8:30 am  US Jobless Claims
  • 12 noon  USDA Crop Production
  • 12 noon  USDA Supply/Demand
  • 2:00 pm  FOMC Meeting Announcement

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As always, please use protective buy and sell stops when trading futures and options.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

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