Dear Members,
Globally markets are down on fresh concern new Covid-19 strain found in UK, Pound is down more than 300 pips and most of European markets are also down. Indian market Nifty is more than 3%. Right now USA futures are down sharply lower, but watch S&P level of $3601 level which is buying level for market but don’t hurry to buy aggressive long, surely one can take some long.
Financial stocks will perform well, which may help market and tech stocks will come forward which may reverser market. On Monday we expected some profit booking coming in markets around higher sides but no major corrections expected tomorrow so keep this in mind as market can rebound.
Metals traded very volatile including gold, silver, copper, platinum, palladium and other base metals, they came down sharply lower from the higher side level. In our letter we recommended booking profit around higher side in metals and covering back in the evening sessions of USA so keep this in mind.
Most of energy market is down, stay away without taking any long on Monday, grains will struggle but buy coffee around lower sides.
Dollar Index was our favorite trade and the dollar moved aggressively higher on Monday, most currencies had worse and we are expecting this to happen on Monday. Stay away from any buying, surely short term or day traders can cover sell around lower sides.
Jupiter and Saturn conjunctions are too close to each other, both are powerful planets and they will try to show their power to each other which could be a bit uncertain as they will forget about the world temporarily so human nature will get some fear and uncertainty. Many wrong decisions will be made in the next 48 hours.
I highly recommend reading this week's weekly newsletter carefully, as most financial products have breached our lower side levels, but 6.00 AM to 9.57 AM NY time, most commodities and markets will form bottom so keep this in mind. Moon will be testing out from the house of Aquarius and will move into the house of Pisces which will make's most of markets calm down.
Currently S&P is at 3603, NASDAQ 12486, RUSSELL 1886 and DOW 2912.
Thanks & God Bless
Mahendra Sharma