Oct 27

Market view for 27th October 2014

Here is my view going forward, after calling a rip off rally in mkts , we clearly saw a sweet rally. I hope every short took profits near the 1800s lows as we saw a short covering rally as everyone was short.

Here is my view:

1. VIX is likely to bottom soon around 12-15 area is my guess , should find a bottom soon.

2. SPX is close to my upside target of 1970-1980 , I expect possible top in this range in mkts

3. Gold had a nice rally from 1180 , it looks like a corrective pullback to around 1220 and then another rally higher likely

4. NYSI arguing that stocks can have more upside , so dont be fooled , we are still oversold.


All in all I expect a mixed choppy week ,, with a final push higher likely , we should not get any major upside this week or any major downside , but more like a sideways but choppy week.


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