Why the stocks indices are not backing off and the market is in 12th day of bull run?.
We expect traders to start to trickle back into the markets for fall. But the market is waiting for the Bernanke speech at Jackson Hole on August 31.
QE3 now looks unlikely as economic indicator are turning up.
Markets focused Monday on a Der Spiegel report that the ECB will vote at their next meeting on a program to maintain a fixed limit on the spread between EZ sovereign bond yields and bunds and Spain's bonds yields now dropping and improving the confidence of the investor in the Euro zone economy with the exception of Greece.
The Gold and Silver price spikes pointing the dollar bears back in the market and bias is for the dollar bear in the short term till the Bernanke speech Cheers
1- EUR/USD (last 1.2405)
Support:
1.2304(S1)
1.2240(S2)
1.1955(Major Sup)
Resistance:
1.2427 (R1)
1.2537 (R2)
1.2670 (June’29 high)
STRATEGY (SOS) short on Strength short tem But Mid term buy near 12270 for higher prices
Trend Bullish till it is hold above 12200
Day Trader
Day Trader
Short@12457 Stop@12484 Tgt 12364
Parked Orders
Short @12537 Stop @12587 for 12381
Long @12278 Stop @12235 Target 12427
CABLE (15750)
Support:
1.5670 (S1)
1.5588 ( SS2)
1.5535 (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
Long @15438 Stp@15408 tgt open
PARKED ORDERS
Short@15839 stop@15879 tgt 15672
Mid term
Yen (7935)
Support:
77.95 (S1)
77.37 (S2)
75.86 (Major Sup)
Resistance:
79.66 (R1)
8055 (June’29 high)
8122 (RRR3)
Trend –Short term lower Mid Term Higher towards 8330
MID term
Long@7845 stop@7777 tgt open
BOD (Buy on dips for we are expecting a sharp rise towards 8330)
Swiss(9712)
Support:
9672 (S1)
9630 (Last Week Low.)
9580 (Major Sup)
Resistance:
9800 (Res1)
9877 (RR2)
9972 (RES 2 High placed on 24 July)
Strategy (BOD)
Buy /Long
Day trade
Long @9619 stop@9603 Tgt 9702
Mid term
Side line before Any clear direction
Cad $(9860)
Flat
Support:
.9840 (S1)
.9810 (Sup2.)
.9770 (Major Sup)
Resistance:
9940 (R)
1.0105 (Res2)
1.0166 (Res3)
Day TRADER
BOD near 9828 Stp@9807 Tgt 9909
Ausie $ (10511)
Support:
1.0428 (S1)
1.0364 (Sup2.)
1.0295 (Major Sup)
Resistance:
1.0528 (Res1)
1.0580 (Res2)
1.0622 (Res3)
Trend -Flat
Strategy
Short @10554 Stp@10576 tgt open
Metals
GOLD (1625)
Strategy BOD (Buy on Dips)
Support:
1609 (S1)
1592 (S2)
1558 (Major Sup)
Resistance:
1629 (High placed on 27 July)
1644 (Res 2)
1670* (Res3)
1670* (Res3)
Buy near 1577/81 zone stop@1567 tgt 1610
short@1668 stp@1675 tgt 1639
High Risk Trader
Buy@1607 Stp@1602 Tgt 1633
SILVER (2890)
Flat
Support:
2842 (S1)
2788 (s2) Projected low on Time and Price Cycle
2608 (Major Sup)
Resistance:
2923 (Res)
2973 (RR )
3026 (Major resistance)
Strategy
Side line for now
Short@2916 stop@2936 tgt 2855
ES (MINI Sp500) (1417)
Trend Flat
Strategy Sos Short on strength
Support:
1408 (S1)
1391 (s2)
1374 (Major Sup)
Resistance:
1425 (RR)
1436 (Major resistance)
1455**********
Strategy
to go short@1424 stop@1428 tgt 1415 (Fresh order)
Crude OIL OCT (9700)
Strategy (SOS ) Short on strength
Support:
9588 (S1)
9490 (s2 projected swing low on time and Price cycle)
9244 (Major Sup)
Resistance:
9758 (Res)
9777 (Res2)
9845 (Major resistance)
Strategy
to go short@9757---9788 Stop@9807 Tgt 9589
Time line For Gold
Intera day time where market likely to change the direction 1630-1655 GMT where intraday time cycle projection area
