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On Friday, September 27, 2024, the S&P 500 closed at 5738.17. It reached a new all-time high (ATH) of 5767.37 on September 26, 20241. The market traded within a very narrow range. Mars will be transiting through Punarvasu Nakshatra for the entire week, while Venus will enter Vishaka Nakshatra on Friday, October 4, 2024.

There will be a Solar Eclipse on October 2, 2024, around 3:00 PM New York Time. I anticipate that this event will cause the market to break out of its current rangebound trading, leading to high volatility. I predict that the S&P 500 (SPX) could trade between 5777 and 5815 on the upside. On the downside, it might trade between 5664 and 5554.

Bitcoin

As of Sunday, September 29, 2024, Bitcoin is trading at 65,52. It is anticipated that Bitcoin could drop to around 54,000 during the Solar Eclipse on October 2 or 3, 2024. Short-term traders and speculators might consider taking a long position on Bitcoin if it reaches the 54,000 level this week.

Gold Price

As of Sunday, September 29, 2024, Gold is trading around $2662 per ounce. I expect Gold to trade between $2542 and $2782 this week. If gold trades below $2542, it could present a good opportunity to go long with a target price of $2900 in the short-term.

Weekly Trading Forecast

Date	Forecast	Confidence Level
Mon Sep 30, 2024	I expect the market to be choppy and will go down a little as the day progress.	60%
Tue Oct 01, 2024	Moon will enter Kanya Rasi that will create bearish energy. Market will go down but could still trade in a rangebound.	60%
Wed Oct 02, 2024	Solar Eclipse happens on Oct 2, 2024 that will trigger significant sell off in the market today.	80%
Thu Oct 03, 2024 & Fri Oct 04, 2024	The market is expected to continue its downward trend. If the S&P 500 falls below 5600, it would be prudent to close your trades and hold cash. This strategy can help mitigate potential losses during periods of high volatility.	75%

 

Israel expands weekend strikes to Houthis in Yemen

Saturn and Mars making a perfect trine aspect triggered this problem. Unfortunately, Mars going retrograde on Dec 6, 2024 is not good news. It indicates that is unlikley to end at least until Feb 23, 2025. This date aligns and comes after new president Inauguration January 20, 2025. We hope that new president will resolve this issue and bring peace to the world.

Expected Trading Range for this week

Ticker	Bearish Trend	Bullish Trend
SPY	571.47 - 564.56 - 557.23	571.47 - 574.88 - 578.44
QQQ	466.75 - 459.82 - 453.22	486.75 - 489.55 - 496.48
NIFTY50	26,178.95 - 26,520.42 - 26,713.71	26,178.95 - 25,692.55 - 25,154.21