(As sent on 28th Nov 2016)
Global Equity Indices
Last week, S&P500 DEC contract made a low of 2184 and a high of 2216. On 25th, it was Jupiter square Pluto that led to the top of S&P500. For now, the top has been made. Next buying is recommended only above 2216. With S/L of 2216, you may short S&P500. Today and tomorrow, trend is bearish. Next day after GDP data, market will move up. This upward move may last until Thursday. On Friday, market shall again decline after non-farm payroll announcement.
In the current week, stock market has more of downside risk. S&P500 can drop to 2150 or below by Friday.
Heng Seng shall be positive for today and tomorrow.
he low of bullion (GOLD: 1171 & SILVER: 16.15) has been made in previous week. These recent lows shall not be breached in the near time ahead.
Today, trend is positive for bullion.
Next day after GDP announcement, a downside trend may be observed. On Thursday-Friday, rangebound to bearish trend is possible.
On Friday after non-farm payroll announcement, bullion shall turn bullish.
Positional traders can hold long position with last week’s low as stop loss in Gold and Silver.
Next week shall continue to be bullish for precious metals.
NG is in overall positive trend until 1st December 2016. From 2nd December, it shall start to decline. Long NG with S/L of 3.20.
US Treasury Bonds
The last week saw the lows for treasury bonds. In the current week, Monday and Tuesday are positive while Wednesday and Thursday are negative. On Friday again, upward trend is indicated.
Buy treasury bonds on dips.