Bell Opening Comments

Asian markets better this morning with the exception of China and the divergence between china and USA markets , Japan the standout performer up 1.8%, boosted by renewed speculation of Chinese stimulus which is again could not be surprise but how the market will react is important and if it is just another economic Viagra what will be the outcome of the financial world but mind it this is election ear and there is only 100 days left before the election and who is going to be next person in white house is VERY important

European futures are pointing to a higher open, up around 30bps. On reports that German politicians are seeking ECB reform, saying that they have strayed from their core role and the important news from Spain and Greece as we are approaching near 17 august and is they are going to buy bonds Fund mangers waiting for the Action . Corporate highlights out of the Euro zone, include Zurich reporting better than expected Q2 results, but one thing is important that the Governments adjusting their GDP targets and inflation Targets while some companies adjusting the projection upwards

Some big after hours market moves out of the US following earnings, Applied Materials were 4% lower whilst Cisco traded 5% higher and there are number of data from USA today and also the option expiry is near for August expiry .Yields on benchmark 10-year Treasury notes rose on Tuesday to 1.80%, their highest level since mid-May and off record lows set in late July

1- EUR/USD (last 1.2278)

Support:
1.2239 (S1)
1.2155 (S2)
1.2050 (Major Sup)

Resistance:
1.2417 (R1)
1.2537 (R2)
1.2670 (June’29 high)

STRATEGY (SOS) short on Strength

Trend Bias Dn

Day Trader

Day Trader

Short@12347 Stop@12392 Tgt 12274

Parked Orders

Short @12467 Stop @12487 for 12281

Long @12178 Stop @12155 Target 12318

Midterm wait for the Clear direction

CABLE (15668)

Support:
1.5577 (S1)
1.5448 (Low Placed on 25 July.)
1.5355 (Major Sup)

Resistance:
1.5766 (High placed on 27 July)
1.5848 (May’21 high)
1.5919 (MAJ Res)

Short Term STRATEGY (SOS) Short on strength

Day traders

Short@15723 Stp15747 tgt 15598(filled and adjusted the stop@15707)

Day Traders

Long @15438 Stp@15408 tgt open

PARKED ORDERS

Short@15819 stop@15859 tgt 15572

Mid term

Yen (7925)

Strategy Wait for break

Trend Flat

Support:
78.27 (S1)
77.77 (S2)
75.86 (Major Sup)

Resistance:
79.27 (.50% Ret. of 8055 – 7790)
8055 (June’29 high)

8112

Trend Bullish mid term

MID term

Strategy BOD (Buy on dips)

Long@7845 stop@7777 tgt open

Swiss (9781)

Support:
9730 (S1.)
9663 (S2)
9580 (Major Sup)

Resistance:
9860 (Res1)
9972 (RES 2 High placed on 24 July)
10035 (Res3)

Strategy (BOD)

Buy/Long

Day trade

Long @9733 stop@9713 Tgt 9860 (Parked Fresh order)

Mid term

Side line before Any clear direction

Cad $ (9891) Flat

Support:
.9870 (S1)
.9848 (Sup2.)
.9802 (Major Sup)

Resistance:
9935 (R)
1.005 (Res 2)
1.0166 (Res3)

Day TRADER

BOD near 9868 Stp@9857 Tgt 9990 (Parked Order)

Ausie $ (10487)

Support:
1.0440 (S1)
1.0404 (Sup2.)
1.0355 (Major Sup)

Resistance:
1.0538 (Res 1)
1.0580 (Res2)
1.0632 (Res)

Trend -Flat

Strategy

Short @10606 add 10687 Stop@ 10715 tgt 10355 (Filled and Open with adjusted stop@10578 buy half of the position around 10515 ) Amended adjust the stop@10528 and off load the remaing ½ positions around 10444)

Metals

GOLD (1603)

Strategy BOD (Buy on Dips)

Support:
1588(S1)
1568 (S2)
1548 (Major Sup)

Resistance:
1613
1629 (High placed on 27 July)
1644 (Res 3)

Buy near 1574 zone stop@1567 tgt 1597

Short @1613.3 stop@1618.80 tgt 1588

SILVER (2782)

Flat

Support:
2728 (S1)
2688 (s2) Projected low on Time and Price Cycle
2608 (Major Sup)

Resistance:
2830 ( Res)
28.83 (RR)
2916 (Major resistance)

Strategy

Wait for the up ticks to go short @2819 area for 2691 Stop@2837

(open and holding)

ES (MINI Sp500)(1403)

Trend Dn

Strategy Sos Short on strength

Support:
1391 (S1)
1378 (s2)
1357 (Major Sup)

Resistance:
1409 ( Res)
1413 (RR)
1436 (Major resistance)

Strategy

to go short@1400 Stop@1408 Tgt 1381 (open and Working and adjust the Stop@1411.25 and wait for the break below 1372 for the confirmation of the top is in short another @1410 same stop)

Crude OIL

Strategy (SOS) Short on strength

Support:
9348 (S1)
9226 (s2 projected swing low on time and Price cycle)
9004 (Major Sup)

Resistance:
9488 (Res)
9547 (Res 2)
9585 (Major resistance)

Trend dn

Short @9549/80 zone Stp@9592 tgt 9322

Time line For Sp500

Intera day time where market likely to change the direction 12.15 GMT where intraday time cycle projection areas