Night Session 09/29/2011

Night Session 09/29/2011

 

Morning Briefing – 30-Sept-2011

Morning Briefing – 30-Sept-2011

GOOD MORNING!

EQUITIES The US markets had closed mixed yesterday. The Dow (11153.98) was up 1.3% while the Nasdaq (2480.76) was down 0.43%. Although the Dow has closed higher yesterday, the bigger picture still looks weak and it is facing Resistance near 11300 over the last couple of days. Also with strong Resistance in 11500-600 region, we see a threat of a fall to 10450 or even lower in the coming weeks. The Asian markets are trading mixed. Australia (4052.70, down 0.37%), Shanghai (2364.19, down 0.05%) and Hong Kong (17751.13, down 1.44%) are trading lower while Nikkei (8723.12, up 0.25%), Indonesia (3577.16, up 1.14%) and Taiwan (7192.46, up 0.14%) are trading higher. The Sensex (16698.07, up 252.05 points) and Nifty (5015.45, up 69.55 points) had closed higher yesterday.

COMMODITIES The approval from Germany to expand the Euro zone bail out fund, cooled the commodities market little bit yesterday and the market witnessed a slight bounce back. Nymex Crude (82.82) has risen well from its low of 79.64, but it has significant Resistance in 84-85 region which would continue to keep it pressured on the downside for a fall to 75-70. Gold (1629.90) broke below 1600 yesterday, but has bounced back from its low of 1585. With significant Resistance in 1680-1700 region, the threat of seen 1500-1470 on the downside is still there. Silver (31.04) is trading just above 31. Much strength is not seen in the bounce back move seen since yesterday and it is expected to find good Resistance in 32-33 region. The downside is open for a test of 26 or even 23. Copper (3.22) is getting psychological Support near 3.00. But the bigger picture still remains bearish and the chances of seeing 2.80 on the downside cannot be ruled out.

CURRENCIES Germany approved to expand the Euro zone bail out fund yesterday. But Euro (1.3539) seems to need much more trigger than this to ease/wipe out the downside pressure as it failed to sustain its upmove yesterday and it remains bearish for a fall to 1.3450-00 or even lower. Dollar-Yen (76.59) retains its 76.10-77.00 sideways range. The Euro-Yen Cross (103.68) is finding strong Resistance in 104.50-105.00 region and remains bearish in the bigger picture for a fall to 102 or even lower. Dollar-Swiss (0.9000) is continuing to get good Support near 0.8920 and looks bullish for a rise to 0.9100-200. Cable (1.5591) is not gaining momentum for a strong rise past 1.5700 and is bearish for a fall to 1.5500-5300. Aussie (0.9753) remains broadly ranged between 0.9700-1.000 with a bearish bias. There is a threat of seeing 0.9250 on the downside while below 1.000. Regards Konrad

Tradingreport 09/28/2011

Tradingreport 09/28/2011

 

 

Morning Briefing – 29-Sept-2011

Morning Briefing – 29-Sept-2011

 

GOOD MORNING!

EQUITIES The concerns on the global economy and Euro zone debt concerns are keeping the markets pressured on the downside. The US markets had closed lower yesterday. The Dow (11010.90) was down 1.61% and the Nasdaq (2491.58) was down 2.17%. Most of the Asian markets are trading in the red except for Taiwan (7169.47, up 0.31%) and Indonesia (3528, up 0.40%) which are trading higher. Nikkei (8531.02) is down 0.98%. Shanghai (2368.11) is down 1% and Australia (4042.30) is down 1.35%. The Sensex (16446.02, down 78.01) and the Nifty (4945.90, down 25.35) had closed lower yesterday and could extend its loss today following the other markets.

COMMODITIES Yesterday, we had mentioned that the rally in the Commodities could be short lived and a good fall was seen in the commodities space thereby retaining the overall downside pressure. Nymex Crude (80.90) has found Resistance just below 85 and has come off sharply. The broader picture looks bearish for further fall to 75-50 in the coming days/weeks. Gold (1610.20) failed once again to rise past its 1670-1700 Resistance region and has come off from its high of 1669.60. The overall outlook remains bearish for a test of 1500-1470 on the downside. Silver (30.46) remains weak and can fall to 26 once again. We also see a threat of the downmove extending further to 23. Copper (3.17) remains bearish for a test of 3.00-2.80 on the downside.

CURRENCIES Euro (1.3568) has come off sharply from its high of 1.3690 and retains its overall bearish view intact for a fall to 1.3400-3300. Dollar-Yen (76.54) remains ranged between 76.10-77.00. The Euro-Yen Cross (103.85) is continuing to find Reistance in 104.50-105.00 region and remains bearish for a test of 102.50-00 on the downside. Dollar-Swiss (0.8992) is getting Support at 0.8925 and see a fresh rise to 0.9100-200 on a strong rise past 0.9000 Resistance. Cable (1.5600) is ranged between 1.5550-5700 over the last couple of days within its overall downtrend and can fall to 1.5500-5450. Aussie (0.9760) fell to a low of 0.9701 and is bouncing back from there. Important Support is there at 0.9663 (100-Week-MA) and while it holds, we could see a sideways consolidation between 0.9650 and 1.000 for some time. Regards Konrad

Night Session 09/28/2011

Night Session 09/28/2011

 

Morning Briefing – 28-Sept-2011

Morning Briefing – 28-Sept-2011

 

GOOD MORNING!

EQUITIES The US markets came off sharply from their intraday highs after the news on the lack of consencus from the Euro zone on bailing out Greece. However, the indices managed to close higher yesterday. The Dow (11190.69) was up 1.33% and the Nasdaq (2546.83) was up 1.20%. The Asian markets trading higher except for Hong Kong (18017.57) which is trading lower by 0.62%. Nikkei (8625.40) is up 0.18%, Shanghai (2417.73) is up 0.11%, Australia (4106.20) is up 1.05% and Taiwan (7123.83) is up 0.48%. The Sensex (16524, up 472.93 points) and Nifty (4971.25, up 135.80 points) had closed higher yesterday.

COMMODITIES Weaker Dollar triggered a rally in the Commodity space yesterday. But the bigger picture remains weak for the commodities and this rally could short lived. Nymex Crude (83.27) saw a high of 84.77 and has come off from there. With Significant Resistances at 85 and 90 the bigger picture remains bearish for a test of 73-70 on the downside. The Resistance in 1670-1700 region menitoned yesterday for Gold (1640) is holding well and retains the threat of seeing 1500-1470 on the downside. Silver (31.27) has come off sharply from its high of 33.58 and remains weak for a test of 26 or even 23 on the downside. Copper (3.37) is facing Resistance near 3.50 and remains bearish for a fall to 3.00-2.80 in the coming days.

CURRENCIES The disagreement from Germany to expand the 440 billion Euro EFSF fund has paused the sharp rally seen in the Euro yesterday. The Euro (1.3575) has come off from its high of 1.3668 and could test 1.3500 while below 1.3600-30 Resistance region. The broader picture remains bearish. Dollar-Yen (76.51) remains ranged between 76.10-77.00 and has come off after rise towards the upper end of this range. The intervention speculation is keeping the downside limited and a rise past 77 is expected. The Euro-Yen Cross (103.88) has come off from near 105 and is retaining the broader bearish view intact for a fall once again to 102 or even lower. Only a strong rise past 105 will ease the downside pressure. Dollar-Swiss (0.8977) has bounced back well from its low of 0.8925 and a fresh rally to 0.9200+ levels is possible now on a strong break above 0.9000. Cable (1.5634) tested 1.5700 on the upside and has come off from its high of 1.5705. The broader outlook remains bearish and any upmove could be restricted to 1.5750-5800 Resistance region. Aussie (0.9874) has come off from just below its important Support-turend-Resistance level at 1.000 and remains bearish. A test of 0.9700-9650 on the downside is possible while below 1.0000. Regards Konrad

Morning Briefing – 27-Sept-2011

Morning Briefing – 27-Sept-2011

GOOD MORNING!

EQUITIES The US markets witnessed a sharp rise and had closed higher yesterday. Hopes that the EU officials would come out with some action to contain the Euro zone debt crisis triggered this rise. Dow (11043.86) was up 2.53% and the Nasdaq (2516.69) was up 1.35%. The Asian markets are trading higher following the sharp rise in the US markets. Nikkei (8524.56) is up 1.80%, Hong Kong (17851.31) is up 2.55%, Taiwan (7113.46) is up 3.44% and the Shanghai (2410.36) is up 0.72%. The Sensex (16051, down 110.96) and Nifty (4835.40, down 32.35 points) had closed further lower yesterday and are keeping up our bearish view intact for a test of 15500 and 4600 on the downside respectively. However, it could see an intermediate bounce back today following the rise in the other markets.

COMMODITIES The hopes for a resolution to the Euro zone debt crisis reversed the sharp intraday fall yesterday in the commodities space. Nymex Crude (82.14) has risen well above 80 and could extend its upmove to 84-85 while above 80. Gold (1645.10) fell sharply to a low of 1532.70 and has bounced back well from there. Immedaite Resistance is seen in 1670-1700 region and while it holds, we a threat of a fall to 1470 in the coming days. Silver (31.54) spiked to a low of 26.15 and has riseb back above 30. It could find some Resistance near 33. Copper (3.33) has bounced back from near 3.00 and it could find Resistance near 3.45-50 region which could keep the metal pressured on the downside.

CURRENCIES The hopes that the EU officials would come out with some action to contain the Euro zone debt crisis has eased the downside pressure on the Euro a bit. The Euro (1.3553) has risen from its low of 1.3360 and is now trading higher above 1.3500. However, it has important Resistances at 1.3630 and 1.3700 which needs to be watched and which could restrict the current bounce back move. Dollar-Yen (76.33) is continuing to be ranged between 76.10 and 77.00 and could rise sharply as the market is speculating an intervention this week. The Euro-Yen Cross (103.45) has risen well from its low of 101.93. It has significant Resistance in 103.75-104.00 region which needs to be broken to ease the downside pressure. Dollar-Swiss (0.9002) is trading just above its Support at 0.9000 and could fall to 0.8900 on a strong break below this immediate Support at 0.9000. Cable (1.5581) has risen well above 1.5500 and could rise further to 1.5630-50 today. Aussie (0.9865) has bounced back well from just below its important 100-Week-MA (0.9664) and could very well test 1.00 on the upside in the coming days. Regards Konrad

Night Session 09/27/2011

Night Session 09/27/2011

 

Morning Briefing – 26-Sept-2011

Morning Briefing – 26-Sept-2011

 

GOOD MORNING!

EQUITIES The US markets had closed higher on Friday. The Dow (10771.48) was up 0.35% and the Nasdaq (2483.23) was up 1.12%. The bigger picture remains bearish and the Dow could target 10450 in the near term and then eventually could see 10,000 on the downside. The Asian markets remains cautious and are continuing to trade lower. Nikkei (8419.36) is down 1.65% and the Shanghai (2431.57) is down 0.07%. The Sensex (16162.06, down 199.09 points) and Nifty (4867.75, down 55.90 points) fell further on Friday and is keeping up our bearish view intact for a test of 15500 and 4800 respectively on the downside.

COMMODITIES Nymex Crude (80.00) is continuing to remain pressured on the downside and is keeping up the chances of testing 75 on the downside. Gold (1635) fell sharply breaking below 1700 to test 1650 as expected. A test of 1600-1570 is possible. Silver (29.70) surprised the market with a sharp fall on Firday. 29.50-00 is an important Support region to be watched and a break below it can trigger further fall. Copper (3.18) remains bearish and is continuing with its sharp downmove. we see a threat of further fall to 2.80 on the downside.

CURRENCIES The Euro (1.3425) has come off sharply below 1.3500 and remains bearish for a test of 1.3300-3275 or even lower in the coming days. Dollar-Yen (76.42) remains ranged between 76.10 and 77.00 over the last few days within its broader 76.00-77.85 sideway range. The Euro-Yen Cross (102.62) is not gaining upside momentum and can fall to 100-98 on a strong break below 102. Dollar-Swiss (0.9102) is finding good Support near 0.9000 and looks bullish for a test of 0.9200-50 on the upside. The Pound (1.5461) is not gaining strength for a strong rise past 1.5500 and a call once again to 1.5350-00. Aussie (0.9775) is ranged between 0.9670 and 0.9870 and is looking mixed. Regards Konrad

Tradingreport 09/23/2011 – DOW JONES INDUSTRIAL AVERAGE

Tradingreport 09/23/2011 – DOW JONES INDUSTRIAL AVERAGE