The outcome of Paradise Papers leak & arrest of Saudi Prince

Global Equity Markets

For today and tomorrow, global markets may go through a correction. From 8th to 10th November, a recovery may be observed.

On 13th, it is the conjunction of Jupiter and Venus; market will see “reversal” of the month. It’ll start to decline. On 16th, Sun shall enter Scorpio; which may worsen the market situation.

It is advised to hold short position in US and other global markets till next session. S&P500 has resistance at 2590-2593 and support at 2553. By tomorrow’s US closing or Wednesday’s Asian morning, S&P500 can drop to 2562-2541.

Negative news have started dominating the market since the arrest of Saudi Arabian Prince Alwaleed bin Talal, who has exposure to major companies around the world. Apart from that, ICJ (International Consortium of Investigative Journalists) has released Paradise papers, that contains over 13.4 million corporate records from tax havens.

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