Cheers to the start, Delight in the Middle and delusion in the end.
Cheers as the markets open gap up, churn rotate and move and kept the tone circling around the 22 K, delight in the middle as Swiss Central Bank surprisingly cut rates. Dax initially bounced and then fell. Delusion in the end, the inability to have much stronger move is still in Question. Everything looked like dead cat bounce coming near the strong support. Today is vital.
Contrary to initial reactions, USD gallop, moves back above 233 DMA, while Euro still holding into the same. One has to give way to other to get more traction in the direction.
Gold lost some sheen, while US equity continue to march head. US PMI producer puts a strong number. Slow and steady markets call for three rate cuts may end up forward looking, with verbal tone than actions. Hope moves to End of Q1. That is huge set back to those doves who have called as recently as five months back 7 cuts.
The question that is not financial but pure political developments will they have any bearing on the markets? The simple answer is markets pull excuses from every source to move. We may flag and label them as that as the reason, but no one knows the real trigger.
In terms of today, the cues are negative, the closing level to watch is 21900 for the bulls to have some hope and for the bears to restart if we close below. On the higher side 22230 on close basis. Dice is tad in favour of bears than bulls.
A weekly close below 21900, brings focus on this week's low in the next week. 0.382% of the rise from Nov stands at 21382 and bulls stare at that level.
Cheers as the markets open gap up, churn rotate and move and kept the tone circling around the 22 K, delight in the middle as Swiss Central Bank surprisingly cut rates. Dax initially bounced and then fell. Delusion in the end, the inability to have much stronger move is still in Question. Everything looked like dead cat bounce coming near the strong support. Today is vital.
Contrary to initial reactions, USD gallop, moves back above 233 DMA, while Euro still holding into the same. One has to give way to other to get more traction in the direction.
Gold lost some sheen, while US equity continue to march head. US PMI producer puts a strong number. Slow and steady markets call for three rate cuts may end up forward looking, with verbal tone than actions. Hope moves to End of Q1. That is huge set back to those doves who have called as recently as five months back 7 cuts.
The question that is not financial but pure political developments will they have any bearing on the markets? The simple answer is markets pull excuses from every source to move. We may flag and label them as that as the reason, but no one knows the real trigger.
In terms of today, the cues are negative, the closing level to watch is 21900 for the bulls to have some hope and for the bears to restart if we close below. On the higher side 22230 on close basis. Dice is tad in favour of bears than bulls.
A weekly close below 21900, brings focus on this week's low in the next week. 0.382% of the rise from Nov stands at 21382 and bulls stare at that level.
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