As the NSE prepares to close it’s afternoon session, it has to factor in 2 closings on the spx and another 2 on the European bourses.
Considering the kind of climate we are in , it’s not an easy job.
The last 2 days in the US markets have provided swings of 45 points each, and if there is one time frame movement any one way, then those markets could be up 100 points up or down!!
This past weekend I could not post a chart of the US dollar. Here it is :
We spoke of a move to 80.5. The dollar index tagged 80.43 before retreating.
79.4 and 78.9 will keep that uptrend intact, before it finally takes out 81.
Here is a daily chart of the euro to confirm the view.
There is small Short term support in the 1.315 zone, but sellers will be back around the 1.35 region.
Finally the spx futures :
After the reversal off the aug lows, this market looks like headed for 1127.
Strength above 1127 will keep the whipsawing moves and the range still alive.
We are seeing the same in the NF late afternoon yesterday and early this morning.
This chart was posted at vtrender-2 last night. :
The current auction is in the centre of yesterday’s double distribution in the entire single prints of the DD
Let’s see whether it resolves to the upper or lower side this afternoon.