"The Wheel of Fortune represents the vicissitudes of fate.
It's a card with a multitude of interpretations whose reading depends much upon the circumstances alluded to by the subject of the reading. It indicates the point the subject has currently reached in his or her life. If it is present at the beginning of the drawing, it evokes the closing of a past cycle and the beginning of a new one.
In a reading it can herald a work that has squarely come to completion and thus represent the turning of a page, a complete cycle. But often, coming at the middle or at the end of the draw, it indicates a block that needs to be overcome. It sometimes refers to a center of interest or system that is structured upon a circular shape: the wheel of karma, astrology, and even the big wheel of the lottery. The cycle of death and rebirth, in the large sense, can be seen in it as well as the circulation of life.
The Wheel of Fortune invites reflection upon inevitable alternations of ascents and falls, of prosperity and austerity, of joy and sorrow. It orients us toward change, whether positive or negative, and acceptance of the constant transformation of reality."
-Alejandro Jodorowsky, The Way of Tarot