In Europe, the German Dax fell to 3157 last Thursday, after posting a high 3324 just one week earlier. The Netherlands AEX stock index fell to 289.10 last Wednesday, following their 309.50 high for the year on Tuesday, June 17. The Swiss Stock market also reached a new multi week high at 5010.90 on Wednesday, June 18, but fell back to 4784 this past Thursday. And the London FTSE index made its weekly low on Thursday as well, at 4029. This followed its new multi-week high of 4218.80 on the prior Wednesday, June 18. All indices rallied slightly into the close of the week, As stated last week, “As each index made a new multi-week high, they did so with weaker technical (momentum) readings. This creates a case of “bearish oscillator divergence.” That set up the technical condition for the reversal, as previously indicted by the geocosmic signatures. Three Uranus signatures were particularly strong, pointing to a cycle reversal between June 11-23. In retrospect (and prior to that time, in foresight), we can see that was an important cyclic crest.

In the Far East and Pacific Rim, the Australian All Ordinaries made a new multi week high at 3089 on Tuesday, June 17. But by Thursday of last week, they had fallen back to 2991. The Hang Seng made a new multi-week high by hitting 10,068 on Wednesday, June 18. They fell to 9572 by June 24 during the shortened trading hours last week. In Tokyo, the Nikkei perhaps had the strongest showing of all world indices. It posted its new high for the year back on June 18 at 9189, a gain of almost 21% from the 20+ year lows of late April. Last week this index fell back to 8870 on Thursday, but rallied on Friday to test the prior week’s high. The index closed at a respectable 9104, back above the Dow Jones Industrial Average for the first time in several weeks.

In America, the Dow Jones Industrials posted its multi-month high on Tuesday, June 17, advancing to 9352.80 intraday. It then gave back over almost 400 points by Friday as prices made a weekly low at 8970. They closed the week near that low at 8989. The NASDAQ Composite fell to 1598 on June 24 and closed near the 1600 level, after reaching yearly high around 1684-1686 the prior two weeks. Even though many of these world stock indices rallied a bit into the close on Friday, they still remain technically weak, and poised to fall even further over the next few days or even weeks.

There are no real powerful geocosmic signatures coming up in the next month on the order of what we saw in May and June, and especially June 2-23. However, there are some that will warrant our attention in the next 1-2 weeks, suggesting that the end to the corrective decline may be forthcoming. On Sunday, June 29, there is a new moon in 7 degrees of Cancer. This might correlate with a temporary reversal (from a low) in grain prices, which have been hard as of late. However, my bias (as stated in the “Forecasts or 2003” book) is that this will continue to be a near perfect growing season for farmers, and prices will continue in a downward trend as summer progresses. On Friday, July 4 (a holiday in the USA), Venus will ingress into the water sign of cancer. I believe this will correlate with a reversal in the currency markets within three trading days. But again, I expect this reversal will be only temporary, for the longer-term 26-month cycle has topped out, and is not due to bottom (by my calculations) until September-December. This reversal might occur within two weeks of the Jupiter-Uranus opposition, the single most powerful geocosmic signature in effect this year (according to the studies reported in “The Ultimate Book on Stock Market Timing Volume 3: Geocosmic Correlations to Trading Cycles”).

The following week we find three major Venus transits. First, Venus will trine Uranus on July 6, then conjunct Saturn on July 8, and finally trine Mars on July 11. Since Venus rules “values,” as in “the value of money or equities,” it is possible that the decline ends it correction within three trading days of the midpoint of this cluster. What we really have here, for those who study astrology, is a Venus-Saturn conjunct in trine to the Mars-Uranus conjunction. In the geopolitical realm, we may see progress towards peace, again in the violence-ridden Middle East especially regarding the conflict between Israel and Palestine. Many astrologers are also focused upon the Jupiter-Pluto trine in effect this Tuesday, July 1. Although there are collective psychological correlates to this signature that may be positive, there appears to be little evidence that it has a potent correlation to reversals in financial markets by itself. But there are enough other signatures nearby, as just described, to make the first two weeks of July potentially important for traders, especially around July 8.

Last week we gave a special analysis of the Federal Reserve Board chart, with an argument that the end of interest rates declines may be upon us. The FED did indeed lower interest rates last week at the FOMC meeting, but only by a disappointing ¼%. Immediately afterwards, long-term rates began to rise in earnest. Many analysts are now forecasting that this will be the last cut in rates for awhile, and mortgage rates have now seen their lows. Wording in the FED statement concurs with this thought. But more importantly to us, the 2-year trek of Saturn through Cancer (June 2003-August 2005) supports this view too, as forecasted last week.

On another personal matter, readers may be interested in reading new “Rave Reviews” regarding this author’s latest book, titled “The Ultimate Book on Stock Market Timing Volume 4: Solar-Lunar Correlations to Short-Term Trading Reversals,” which appear on our web site at http://www.mmacycles.com/vol4.htm. Or you may read another excellent review that appears in the August edition of Dell Horoscope magazine.

If you are interested in learning more about financial astrology, you might check out the ISAR Financial Astrology pre-seminar, taking place October 8, 2003, in Los Angeles. The main seminar itself will take place October 8-13. For further information, go to www.isarastrology.com, and click the ISAR 2003 seminar icon top see the schedule of activities and many of the well-known market timers who will be speaking. A great pre-registration discount is in effect until July 1. Sign up now and save!

Disclaimer: No guarantee as to the accuracy of this report is being made here. Any decisions in financial markets are solely the responsibility of the reader, and neither the author nor the publishers assume any responsibility at all for those individual decisions. Reader should understand that futures and options trading are considered high risk.