Asian Markets Today: Trading mixed in slow session

18 Apr, 2014, (8:20 AM IST )

Apr 17, 2014, (10:50 PM EDT)

Most of the major global markets are closed today for Good Friday holiday, but major Asian markets like Japan. Mainland China, Hong Kong and South Korea are opened for trade, escaping the “bunny” :)

At the time of writing, Nikkei and Hang Seng were trading positive while Shanghai Composite Index was struggling with red numbers.

U.S. stock futures are also trading slightly negative, although it does not make any difference as U.S. markets will remain closed today.

Major European markets will also be closed today, and even on Monday for Easter holiday.

Currency and commodity markets are open for trade but U.S. bonds are on holiday. Most of the commodities, including precious metals and crude oil, are trading positive, while in currencies, both euro and the Dollar index are trading just below their previous closing levels.

SGX Nifty is trading with a gain of 15 points but again, this is of no importance as Indian markets will also remain closed today and India traders will be busy watching all that “election entertainment” :)

If I can come out of weekend lethargy, I’ll be back with weekly chart analysis some time in next  72 hours.

Till then, have fun, enjoy the weekend and don’t kill the ugly bunny :)

See you later!

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US Markets Today: Volatile session ahead

Apr 17, 2014, (update: 1:14pm EDT)

What? You are still hanging around here? Got nothing else to do or what?

:)

I thought everybody had fallen asleep by watching Dow Jones trade like a snail confined in a match-box. Looks like some traders are still wandering around on this site. Quite addictive are these stock markets, eh?

Addicted or not, markets have turned lazy before a long weekend, with low volumes and hardly any action. The Russian President is making more noises today than U.S. markets :)

Better go and read about him, nothing happening in U.S. markets anyway.

 

(Earlier : 9:33 AM EDT)

And Dow Jones opened in red!

No, I was not standing on my head, market-whales were, whose pockets have just been picked by quickly dropping U.S. markets :)

Told you to be careful :)

Enjoy!

(Earlier : 9:31AM EDT )

Tell you the truth, I have no clue, absolutely no clue why European markets and U.S. stock futures have rallied after the jobless claims numbers came lower than previous reports.

And the Dollar index is still depressed, trading negative even though the reports from labor markets have been good.

It should have been the other way round; equities should have dropped and USD should have rallied.

Am I standing on my head and watching markets and don’t know it?

:)

Might be. After so much work, so much market-watching, such high volatility in global markets- anything is possible :)

So, guys, expect U.S. markets to be highly volatile just like previous few sessions. There will be highs and lows, and markets might remain range bound after rallying in three sessions.

Dow Jones is trading near its resistance zone (16,450) and volumes have been low, so uncertain trading pattern and sudden movements in markets cannot be ruled out on this last trading session of the week.

In other words, watch your pockets, market-whales are lurking around to pick on those :)

Good luck, have fun, have a great session today!

See you later.

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Indian markets today: Volatile, on verge of breakdown

17 Apr, 2014 (9:09AM IST)

Back to our “drama queen of the week” in world markets :)

Indian markets have seen a steady exodus of money in last two sessions. Bears have been chomping down on indexes and stocks and today, Nifty might test its major support of 6650.

If the index closes below this level, a quicker lower trend might emerge next week. Markets are ignoring range bound rupee. Now is the “running time” for money-makers.

Let’s see how fast and in which direction this running takes place :)

Nifty will see resistance at yesterday’s high levels. That is between 6730-6750.

Before that, the first hurdle will be 6700 mark.

Lower – and major support is at 6650.

I’ll wait to see if this levels is broken today.

You can jump in the ring and thrash around- as usual :)

Good luck and  have fun!

See you later.

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World Markets Today: Profit booking after weekly rally?

17 Apr, 2014, (9:07 AM IST)

Apr 16, 2014,( 11:37pm EDT)

Are bears going to have a “Good Thursday” before world markets close their doors for Good Friday?

Looks like so :)

As major stock markets around the world will be closed for Good Friday tomorrow, the weekly jobs reports from the U.S. economy will be released today. Going by highly negative U.S. stock futures, it looks like traders are getting ready to book their profits for the week and take their money off the table before heading for a long weekend.

And what a week it has been! World markets ran up and Indian markets ran down, just opposite of the last week. Central banks kept the heat up in Europe and U.S., elections are creating frenzy in India. Life of traders is always very interesting, but this week the “entertainment” went a notch up J

As I had written in my last post about U.S. stock markets, Dow Jones stopped just below its major resistance concluding a 3-day rally. Today, U.S. markets will receive jobless claims and Philadelphia Manufacturing Index numbers.

As The Fed keeps reiterating importance of labor market, these reports will create a volatile and largely subdued trading pattern before their arrival.

If numbers are good, then the trend in U.S. markets might run back to negative. If not, then we might see another burst of energy in those markets.

Right now, in Asia the Bank of Japan is in focus as its Governor Kuroda has indicated an upward “trend” in Japanese economy. That reduces chance of further stimulus, making yen slightly positive and Nikkei, slightly negative.

Other Asian markets are also struggling with negative numbers.

SGX Nifty is showing some gains, but not very convincing numbers.

Expect a volatile and mostly negative trend in world markets today. Next week will tell whether this will be start of another negative phase or just a profit booking day in world markets.

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

See you later.

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US Markets Today: Last day of rally?

Apr 16, 2014, (9:12AM EDT)

In the last two sessions, U.S. markets have followed similar pattern of first diving down and then rising up to close in positive, making a candlestick that looks like  a tadpole. (big tail with big head, looks like a tadpole to me, don’t know about you :) ).

Although such “tadpole sessions” indicate buyers coming in at lower levels, and defeating sellers to take markets higher; volumes in last two session have been LOWER than the volumes which accompanied the lower trend in U.S. markets before these two sessions.

What does all this gibberish mean?

To me it means, we might see a higher, positive opening in U.S. markets today, but this will mark the third day of gains and when such gain are not supported by volumes, usually the third day becomes a turn -around day for markets. That can happen in two ways:

1)  markets might become confined in a small range near opening levels and close in green but with smaller gains.

2) Or, markets will turn lower from the day’s high levels and close BELOW the day’s opening levels. This will create a negative candlestick on charts, making a lower high for indexes and signaling an end to this “rally within the bearish trend.”

There is a third possibility, which breaks my bearish heart :(

Markets will continue to rally :(

:)

I’ll go with first two possibilities, you can go whichever way you want.

Watch Dow Jones near 16,330-16,360 levels. If it closes past these levels, it will have 100 points more before hitting resistance near 16,450 levels.

The Fed chair Janet Yellen is again scheduled to make a public speech near mid-day. So markets might remain range bound till then after a positive opening.

Expect a volatile session in U.S. markets like the last couple of sessions. Market opening looks like to be on the positive side, the closing might not be so.

Good luck, have fun, have a great session in markets today!

See you later.

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Indian markets today: Are FIIs running away?

16 Apr, 2014 (9:13AM IST)

These markets have had a very “interesting” session yesterday. And by interesting, I mean intriguing.

As I had written yesterday, there had been a major opinion poll showing the main opposition, a right wing party,  gaining majority in ongoing general elections.

Indian markets, that have been rallying absurdly till now, suddenly crashed in yesterday’s opening hours. Even though rupee stayed range bound, Indian markets just crashed.

Today, for the first time in recent months, SGX Nifty is trading negative even though global markets are rallying.

Does this mean that the foreign institutional investors are taking their money out of Indian markets as they are worried about a right-wing party coming to power?

Today’s trading pattern in Nifty will confirm whether this is the reason behind yesterday’s sudden fall in Indian markets.

If Nifty continues to trade lower then we can expect a correction in Indian markets from these levels.

If Nifty recovers and becomes range bound between 6800-6700 levels, then only we can assume that markets are away from a correction.

A lower closing today, which looks more possible, will confirm that money has started to go out of Indian markets.

So keep your fingers crossed, watch the volatile action, have a great session in markets today!

See you later.

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World Markets Today: Bounce back on Chinese Data

16 Apr, 2014 (8:39AM IST)

Apr 15, 2014, (11:10pm EDT)

I’ve hardly had a few winks since Asian markets opened — yesterday! So please forgive me for keeping posts a bit short as I’m busy with working on some political stuff and my brain cells are buzzing with excitement of other kinds :)

As I had already written earlier about Asian markets, Chinese data could make or break the day for world markets today. As economic reports have come in good from China, world markets have taken a breather and are trading quite high at the moment.

U.S. stock futures, European stock futures and Asian markets- all are trading with high gains.

Only SGX Nifty is still trading in the negative, indicating that Indian markets are once again in a different mood from global cues. Told you, drama queens of world markets J

U.S. markets traded with high volatility in their last session, with first diving down deeply, and then recovering to close with good gains. That makes a hammer candlestick in technical charts, indicating more gains ahead. So keep a watch on U.S. stock futures. If green numbers continue in this zone, we have a positive session ahead in European markets too.

That’s all for now.

Good luck, have fun, have a great session in markets today!

See you later.

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Asian Markets Today: Mixed, Waiting for Chinese data

16 Apr, 2014 (6:%5AM IST)

Apr 15, 2014, (9:26 PM EDT )

Welcome for some early crackers and fireworks in world markets today :)

Asian markets, expect for Nikkei and Australia, are trading mostly positive.

SGX Nifty is trading nearly -20 points down in early trade.

U.S. markets had recovered later in the session to close in green as some tech earnings pulled up stocks form their earlier lows.

A big barrage of very important Chinese economic reports is to arrive in world markets in almost half an hour from now. These will include Chinese GDP and Industrial Production numbers.

A positive data from China can bring relief to world markets; negative numbers will obviously disappoint markets.

So keep your fingers crossed and wait for those reports.

Or, just jump in the trading ring.

I’ll go back to spinning my daydreams and the Earth :)

See you later!

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US Markets Today: Volatile on Fed, Data

Apr 15, 2014, (update: 1:12 PM EDT)

Being a bear, please allow me to gloat some more :)

U.S. markets are, as you all know, trading highly negative, continuing with their lower trend, as I had been writing.

European markets went to sleep with big losses.

And… Asian markets are going to open with big, gap down openings in a few hours from now!

No, I didn’t use any crystal ball to see that :)

it’s just that Asian index futures are trading quite low at the time of writing- Nikkei, Hang Seng, ASX 200 (Australia) futures- all down..

And SGX Nifty has also lost nearly -40 points.

Get ready for more bang, bang in world markets tomorrow.

Get ready for more celebrations, bears :)

(Earlier : 9:09AM EDT)

The “drama queen” from South Asia (Indian market) has gone to bed, and now is the time for theatrics from the U.S. markets :)

What a day it has been in world markets!

Chitty-chitty, bang-bang went all indexes from Asia to Europe and now U.S. markets are in line of fire. Stock markets’ “Rambo” ( that is the Federal Reserve Chair Janet Yellen :) ) will be making a public speech at 10.45 AM EDT and U.S. markets will anxiously wait for another salvo from her after the QE3 tapering.

A prepared statement for the Fed chief has already been released and it has expressed some concern about banking regulations.

No wonder, U.S. stock futures have trimmed some of their gains that had come in after good economic reports today.

European markets have not changed their negative stance today, although these markets have recovered slightly from their earlier low levels.

All eyes will be on the Fed chief Yellen in the first half of the session.

Expect a highly volatile and range bound trading pattern in U.S. markets today. Dow Jones has a resistance near 16,250 levels. A close above this level might take U.S. markets back to their last week’s higher levels. Else, U.S. markets are more prone to continue with their lower trend this week as well.

Be ready for the volatile roller coaster ride in markets today :)

Good luck, have fun, have a great session!

See you later.

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Indian markets today: Volatile on inflation, earnings

15 Apr, 2014( Update: 9:12AM IST)

Infosys results are out, nothing special in these results. Markets were apprehensive about some bad numbers from Infy in this quarter but that has not happened.

Maybe that’s why this time there were no special arrangements on various financial channels to discuss Infy results, which usually happens. It used to be like New Year’s eve on these channels when Infy came out with its quarterly results. Today, there was huge short covering before the opening bell as traders, who trade on rumors, rushed to cover their short positions. Nothing unusual, happens in Indian  markets. I mean, trading on rumors :)

(Earlier: 8:54AM IST)

These markets will be the biggest “drama queens” in global markets today :)

Inflations numbers, Infy’s result, election opinion polls- all major ingredients for a highly volatile session are present in Indian markets today.

Inflations numbers will hit markets around 12 Noon. Before that Infy is slated to declare its results . Later in the week, other big wigs like TCS and Reliance Industries will also release their quarterly numbers.

Yesterday, in a first, major opinion poll, a private TV channel predicted clear win for opposition coalition NDA, led by the major opposition party BJP. Stock markets whales are hoping for this kind of result. Will this opinion poll affect Indian markets positively?

That we’ll come to know only when markets open after a three-day gap.

Expect a highly volatile and range bound trading in Indian markets today. Markets might trade within last week’s range.

Keep your fingers crossed, wait for the inflation numbers and enjoy the volatile ride in markets today :)

See you later!

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