US Markets Today: another Fed induced rally?

Posted on May 22, 2013 by Administrator

May 22, 2013 ( 9:16AM EDT )

Guys, I hope you have been having a wonderful day!

We are back for the opening bell in U.S. markets, with a red carpet to welcome the Fed chief Ben Bernanke and his statement at the Capitol Hill.

( If he makes any bullish comments, I won’t hesitate pulling the rug from under his feet !)

:)

Almost 12 hours ago I had written how world markets had turned red when Bank of Japan came out with its economic forecast but no rate cuts. (12 hours? Feels it was just 12 seconds ago!)

Trust the Fed members to spoil that bearish party in world market.

U.S. stock future have turned highly positive after the Fed’s New York president, William Dudley commented that any decision about tapering the QE3 would take a few months’ time.

World markets, which were earlier trading in the negative , instantly perked up and turned positive.

And now, markets will wait for the Fed chairman, Ben Bernanke to endorse the same sentiments about NOT tapering QE3 in a hurry.

Please remember, these are markets’ expectations, not necessary that Mr. Bernanke will fulfil these expectations.

Any hint from the Fed chief about having any thought to taper QE3 will make markets tumble down ( and make me jump up with joy *hehe*)

10 AM EDT is the time when world of stock markets will stop in its tracks as Mr. Bernanke starts his testimony today before Congress.

For traders, investors and everyone having anything to do with markets, the Earth will stop revolving . It will resume its orbiting only after Mr. Bernanke’s testimony is over.

Going by what hints he drops- about tapering ( bearish) or not tapering the QE3 (bullish for markets), markets will take a trend.

(Me? I’ll be over the Moon if he hints about tapering QE3 measures :) )

So, keep your fingers crossed, wait for Mr. Bernanke to appear before the Congressional committee and see what havoc he causes in markets with his comments.

Expect U.S. markets to open positive but trade with high volatility till The Fed chief has made his statement.

Good luck, have fun and have a great day in markets today!

I’ll perch up on my usual fence seat and enjoy the action :)

If something big happens, I’ll be back with more updates.

See you later!

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Indian Markets today: Profit booking to continue?

Posted on May 22, 2013 by Administrator

22 May, 2013 (9:07AM IST)

Indian markets have started their pre-open trades so I’ll keep the update short.

In last two sessions, Indian markets fell from the high levels of their current range, with slightly lower volumes, indicating this was a “profit booking” fall rather than a bearish trend.

Will Indian markets continue this profit booking trend today?

Well, markets are facing a big support ahead, especially Nifty has a strong support at 6100.

If this index breaches this levels due to profit booking, we might see a continuation of lower closing like earlier session.

Else markets will develop and new, small range at these levels and remain highly volatile through the day.

Watch these Nifty levels to see which way markets are going:

Pivot: 6132

Support One:6084

Support Two:6054

Support Three:6006

Resistance One:6162

Resistance Two:6210

Resistance Three:6240

Good luck, trade safely and have another great day in markets!

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World Markets Today: BOJ disappoints, waiting for the Fed

Posted on May 22, 2013 by Administrator

22 May, 2013 (8:59AM IST)

May 21, 2013 (11:27 PM EDT)

Welcome back to another action-packed session in world markets today!

The session in world markets has started with a big bang from the Bank of Japan, which refused to oblige markets with a rate cut (as markets were hoping/ expecting) and with that, first stage of today’s drama has started unfolding!

Dollar slipped against Yen immediately and the Dollar index (which trades against a basket of major currencies) turned negative as well.

U.S. stock futures and Gold also dipped slightly into the negative territory.

Nikkei lost a few points. SGX Nifty had been trading in a straight line since a gap up open.

As I said, this was the first installment of action-sequences scheduled for today (:))

Next installment will come with European markets which will receive important economic reports from U.K. and Euro Zone.

The most important session in world markets today will be in U.S. markets which will see some important economic reports.

THE event of this week, will occur at 10 AM EDT, when the Federal Reserve’s chief, Mr. Ben Bernanke will start testifying before Congress.

Expect world markets to trade with high volatility and remain range bound within previous few sessions’ range.

It’s a roller coaster ride in markets ahead; faint hearted traders should keep away. So should intelligent traders :)

If you can’t then trade very carefully, keep strict stop loss in all your trades and be ready to get trampled in markets at any moment (*hehe*).

Have  a great day, enjoy the session in world markets today!

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US Markets today: Nervous about the Fed

Posted on May 21, 2013 by Administrator

May 21, 2013 (9:18 AM EDT)

Welcome back to another interesting session in U.S. markets today!

It has been an extremely busy session for world markets (and me :) ) today.

Right from the opening bell, action started picking up in markets and what a volatile session this has turned out to be till now!

Indian and European markets saw some huge, intra-day peaks and drops when low inflation numbers from U.K. were reported.

Those who still believe in the Fed’s liquidity rally to continue, jumped in the “buying” queue, those who believe in profit booking at current levels jumped out of the “exit” windows. It was craziness and extra volatile action at that time in world markets.

Expect the same volatility to hit U.S. markets now that another round of FOMC members’ speeches is around the corner.

But the biggest event of this week, perhaps of this year, is scheduled for tomorrow when the fed chairman Ben Bernanke will testify before Congress. He is expected to hint at the futures of the Federal Reserves’ QE3 program  – also known as the easing measures.

There will be lots, lots more events in markets tomorrow, but we’ll talk about that when the planet Earth completes one more rotation and world markets open their gates for another session with the opening bell in Asian markets in 12 hours from now (I can’t wait for that!).

Right now, we are about to see the opening of today’s last session in world markets as U.S. markets prepare to open.

U.S. stock futures are flat at the time of writing, European markets are trading mixed, Euro and Gold are down and the Dollar index is trading highly positive.

Expect U.S. markets to open flat/ negative and trade within last 2 session’s range with high volatility.

Closing levels of U.S. markets will indicate how nervous markets are about Ben Bernanke’s testimony.

Enjoy the volatility, have fun doing short term trades, have a great day in markets today!

I’ll go day dream about tomorrow’s session in world markets :)

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Europe: Big depositors’ money in Cyprus like risk, markets fall

Posted on May 21, 2013 by Administrator

May 21, 2013 (3:25 AM EDT)

21 May, 2013 (12:56 PM IST)

Sometimes I pat my own back at what I discover in news reports and then sit back and wait for markets’ reaction :)

Like today, I spotted a CNBC report which said “under new European Union laws, big depositors could suffer losses in case of a bank bailout.”

Read CNBC report here: EU Draft Bank Rescue Law Would Not Shield Big Deposits

Remember Cyprus? Remember how the euro nation was “bailed in” which confiscating depositors’ money?

Now the whole European Union faces risk of turning into a Cyprus.

No wonder European markets opened in the negative and then DAX (Germany) suffered almost half a percent drop within few minutes.

And I patted my own back for spotting this explosive report which nobody is talking right now.

Maybe because nobody knows how important this report is!

Or, maybe nobody wants you to know your bank deposits are at risk in case you country needs a bail out :)

The drama has started, enjoy the action, enjoy the bearish trend (like me *grin*)

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Indian Markets Today: Will Nifty breach below the range?

Posted on May 21, 2013 by Administrator

21 May, 2013 (8:44AM IST)

Guys, be ready for a volatile session in Indian markets today!

For the last three session, markets have been range bound and Nifty had touched and survived lower levels (6140) of its current range.

Will it break below this levels today?

If it does, and STAYS below 6130 levels, then we might see a further downtrend in Indian markets.

As we had been warning our paid subscribers about changing technical signals in major indexes (yes, when everyone else was talking about how high markets will go), the numbers finally followed those signals and markets turned negative yesterday.

Nifty, although showing -30 points drop yesterday, actually fell a cool -73 points intra- day from the day’s high of 6229 to the day’s close of 6156.

21_May_Nifty

Today, SGX Nifty has been hovering near the previous close, which also happens to be the lowest level of its current range.

Indian markets might follow suit and open either flat or negative.

Markets tend to turn very volatile near major levels (support or resistance).

Expect Indian markets to open either flat or negative and trade with high volatility in early session. Faint-hearted traders might go for profit booking on these high levels so markets might see another negative closing today.

Here are Nifty levels for the day, watch these to anticipate market momentum:

Pivot: 6177

Support One:6125
Support Two:6094
Support Three:6042

Resistance One:6208
Resistance Two:6260
Resistance Three:6292

Trade safely, enjoy the volatility and have a great session in markets today!

 (Especially bears :) )

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World markets today: Down on Fed fears

Posted on May 21, 2013 by Administrator

21 May, 2013 ( 8:26 AM IST)

May 20, 2013 (10:56 PM EDT)

Fellow traders, welcome back to world markets for an action packed session!

After a sluggish Monday, traders are going to see a terrific Tuesday when a number of important economic reports hit markets, some more FOMC members speak and we move closer to the Fed chief Ben Bernanke’s congressional testimony by a day.

That is what I call a roller coaster ride in markets; you’d better fasten your seat-belts :)

The session has started in world markets with lots of red numbers and lower trend.

Asian markets are mostly trading in the negative. U.S. and European stock futures are slightly negative and SGX Nifty is right at its previous close, hardly 2 points in the green.

Gold, Euro and the Dollar index- all are trading slightly positive at the time of writing.

Proceedings will heat up as opening bell in European markets comes near. Markets are set to receive a number of important economic reports from that region, especially from Germany and U.K., so expect markets to become more volatile at that time.

U.S. markets will watch for FOMC members’ various speeches. Also, the Treasury Secretary Jacob Lew will testify before a Senate Committee on Banking. Markets will closely watch his comments for guidance.

Tomorrow will be the D-day for markets when the Fed chief, Ben Bernanke is scheduled to appear for a Congressional hearing about QE3 and its effects on the economy.

Expect world markets to remain range bound, volatile and mostly negative today.

(Sounds cool to my bearish ears *hehe*)

Good luck to you, trade safely and have a great day in markets today!

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US Markets today: Lower trend ahead?

Posted on May 20, 2013 by Administrator

May 20, 2013 (8:47 AM EDT)

Fellow traders, I hope you are enjoying this slow trading day which just might turn interesting with the opening bell in U.S. markets!

I have already told you how much buying in index Put Options took place in U.S. markets last Friday. That means everybody is expecting markets to start trading on path of correction; sooner or later. (everybody = me – ha ha :) )

This bearish anticipation is fueled by various FOMC members’ speeches last week in which they indicated that the fed should now start tapering/ pausing its QE3 (or monetary easing- or money printing- in simpler terms) program.

No wonder U.S. stock futures are trading slightly negative today; European markets too are range bound to mixed and Gold has once again crashed to lowest levels of last 21 months.

Main test of this “tapering of the QE3” talks will come on Wednesday when the fed chief, Ben Bernanke is scheduled to testify in Congress about QE3’s effect on the economy.

Markets will hold their collective breath till then and any clear indication from Mr. Bernanke will decide the future trend in markets.

For today, expect markets to trade with volatility and most probably in the negative.

Going by the drop in U.S. stock futures, we might see a negative start as well.

Plan your trades well, continue to learn as much about markets as you can and continue to grow in your “business”.

Good luck to you all, have a great day in markets today!

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Indian Markets Today: High Open, lower trade?

Posted on May 20, 2013 by Administrator

20 May, 2013 ( update: 2:55 PM IST)

:)

20_May_Nifty

(Earlier: 9:03AM IST)

Guys,  SGX Nifty is trading almost 30 points higher at the time of writing but I’m a bit suspicious about its movement.

Indian market have traded positive in last three sessions but with every session, volumes had been dropping down.

That shows buyers have been stepping away from the markets and only few markets whales were carrying markets forward.

That also mean, markets are at the mercy of these few markets- movers who can play buying-selling as it benefits them.

If Indian markets follow SGX Nifty’s lead and open with such a big gap, it might make traders will rush for profit booking which might result in higher open but lower closing for the day.

So, wait and watch for some time before jumping in markets with your trades. Any big opening ( whether on the upside or the downside) usually create high levels of volatility in markets so don’t rush in to trade as soon as markets open.

Here are Nifty levels for the day; watch these to anticipate markets momentum.

Pivot: 6177

Support One:6155
Support Two:6124
Support Three:6101
Resistance One:6209
Resistance Two:6231
Resistance Three:6263

Enjoy the market- mysteries, have a profitable session today and have a great day in markets today!

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World Markets Today: High Open, Slow Trade

Posted on May 20, 2013 by Administrator

20 May, 2013 (8:49 AM IST)

May 19, 2013 ( 11:19 PM EDT)

Welcome back to the first session in world markets of this trading week!

(I hope you are as happy to see the stock tickers start moving as I am :) )

World markets are already jumping up with joy as Asian markets trade higher on last session’s rally in U.S. markets.

Commodities are mostly down, especially Gold, which is trading more than -1.30% down in early trading hours and is nearly at its last month’s low levels.

Keep an eye on this precious metal as a breach below these levels would mean more bearish trend in Gold.

The Dollar index is also trading negative as it falls against Yen. The Japanese economics minister had indicated that there has been enough correction in the  Japanese currency which triggered some buying pressure in Yen.

Euro is slightly positive, but U.S. and European stock futures, in spite of being in the green, are hovering near their previous close.

SGX Nifty is highly positive, indicating a positive opening for Indian markets.

Not much is scheduled today as far as economic reports are concerned, so markets will remain range bound till European markets open and some economic data from Italy filters in.

After that, U.S. markets will be in focus as the Fed members will continue to make speeches.

Expect world markets to open positive but trade in narrow range as volumes have dropped significantly with traders staying in the sidelines, waiting for some clear signal about the Fed’s policy on continuing QE3.

Good luck with your trades, enjoy the day and just have fun in markets today!

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