Weekly Finstrology Update for May 13: Bright Start Fades into Week’s End

May 13, 2024

All times Eastern

A bright start to the week turns slower and more deliberate at mid-week, ending in potential tech-oriented pressure. 

Monday’s trade opens under the influence of the brand-new conjunction between the sun and Uranus in Taurus that puts a spotlight on financial innovations. Their long-term value gets a boost just before the close as money planet Venus forms an opportunistic sextile with Saturn that supports investing in ideas that could make money as they become reality.

Watch for trading to take a decided turn toward slower and less active at midday Wednesday after Mercury enters Taurus at 1:05 pm. Mercury is the planet that rules trading and likes to move quickly. In Taurus, Mercury has traded in the track shoes it wore in Aries for heavy hiking boots.

Early Friday, Mercury forms a 90-degree square with Pluto, which is retrograde in Aquarius and already reviewing bright ideas in technology. In slow and deliberate Taurus, Mercury for sure wants to take its time in those reviews. 

Still, the market might have absorbed that slow-and-steady-wins-the-race vibe by then. The S&P 500 could make a low on Friday as its first-trade Jupiter—the planet of optimism and growth—receives a trine from the transiting sun and Jupiter as well as a conjunction from the moon. In addition, Venus and Uranus provide a similar boost as they are aligned with natal Mars. Look for support near 5075.

Markets on the Move

HOOD Robinhood Markets

Robinhood, the trading platform targeted toward millennial and Gen Z investors, is preparing to be sanctioned by the Securities and Exchange Commission for its cryptocurrency business, based on receiving a Wells Notice from the agency’s staff on May 4. The notice alerts companies of the recommendation heading its way to the full commission. 

The SEC contends that cryptocurrencies are securities and that by listing, holding, and executing transactions in crypto, the company has violated securities law. Robinhood has been trying to work with the SEC to ensure compliance in its crypto business and even delisted several coins from its offerings last year, but says the agency has provided little regulatory clarity.

Prices peaked at $18.46 on May 6, when Robinhood released the news, falling to as low as $17.37 before the company reported first-quarter earnings on May 8. Those earnings beat expectations, with revenues up 40.1% vs. the same quarter in 2023. Prices rallied sharply on the news, hitting $19.47 on May 9 before immediately backing off to the mid-$17 area again.

Look for low on May 20, when the sun, Venus, Jupiter and Uranus are trine to the stock’s first-trade Pluto while the sun and Jupiter form a T-square with its natal Mars/Jupiter opposition. Prices could peak on May 31 as the sun and Venus move on to square first-trade Venus while Mars trines its natal position.

Next month, prices could set a low on June 5 as first-trade Mars receives a square from the moon, Mercury, and Jupiter, as well as a trine from transiting Mars. On June 17, prices could hit a high when Mars and the moon square the first-trade sun while the sun, Mercury, and Venus trine natal Jupiter. Look for a significant high on August 6 when the sun squares natal Uranus while the moon, Mercury, and Venus conjoin first-trade Venus and Mars.

Weekly Highlights

  • Bitcoin Low on Monday, May 13—The Taurus stellium of sun, Venus, Jupiter, and Uranus form a grand trine with bitcoin’s first-trade sun and Saturn. In addition, the moon is aligned with its natal position while Mars squares its natal position. Look for support near $57,500.
  • Gold Low on Monday, May 13—The moon and Mars form a grand trine with gold’s first-trade Mars. Transiting Mars squares the first-trade sun and opposes first-trade Pluto. Transiting Venus trines its natal position. June futures could find support $10 per oz. either side of $2300.
  • Crude Oil High on Tuesday, May 14—The moon and Mars form a grand trine with crude oil’s first-trade sun and Jupiter/Uranus conjunction. Transiting Venus conjoins its natal position while Mercury conjoins natal Mars. July futures could hit resistance just above $80 per barrel.

All information in this post is merely the personal opinion of the author and not that of Astrology.com or any other person, company, or entity. This information is not to be construed as financial advice, nor relied upon as such. Please contact your broker or financial advisor for trading and investment advice, and use astrological indicators in combination with other trading-decision inputs. Past results are not necessarily indicative of future market behavior.