Jul 27

Weekend Outlook for 28th July 2014

Markets has been strong in the US especially and we are likely to see one more push higher.

However if SPX breaks below 1973 that would be very bad news for bulls , then a top might have been in at 1991, but currently as we broke above 1985 on SPX I believe we are at least going to see a test of 2000 on SPX , which is a psychological level.

Also – I wont be suprised if we traded above 2000 for few days before we start a sell off , just to get all shorts out of market.

Gold is now near support and is getting interesting again. However think Gold and silver might see one more flush down early this week before rallying.

NYSI is clearly oversold now and favour the bulls short term as RSI is in the oversold area. Expect NYSI to see ar rebound with mkts going above 2000.

If we look at Europe mkts they already looks topped out with DAX topping above the 10.000 level.


No comments yet.

Add a comment

(it will not be shared)