Great accumulating time in market at current price S&P is at 1886, Nasdaq 4117 and DOW 15950
Dear Members,
Job data unexpectedly came out negative and market came down sharply lower but these lower prices may not able to remain for more than few hours or few days so time to acquire more positions here in USA market. This week on Monday S&P made a low of 1863 level and right now it is trading at 1886 and this level should be held and it won’t trade below 1886 for more than three days.
Must watch:
Emerging markets are bottoming and emerging market currencies also started moving higher since last three trading sessions after weaker news of five years. Time to acquire emerging market currencies and emerging markets. Watch YINN, BRZU, INDL and LBJ.
In 2011 mid-October S&P bottomed out and moved 30% in the 5 months, and every year there on S&P always bottomed out in mid-October and same we are expecting this year to happen as we have been predicting that market should bottomed out by 10 or 16 October 2015. We are still expecting huge rally in first quarter of 2016. We are expecting S&P to gain 20% by 2016 March.
Dollar have been trading mix to negative same kind of mix trend will continue.
Great time to take some sell in thirty year bond as it reached 160 level.
Energy and energy stocks are ready for big rebound from here onward, we see oil moving above $50.00 by end of October which may also help market trend.
Many tech and housing stocks are in our top pick.
Overall today is buying day, and acquire positions without fear but no leverage positions until 15 October.
Gold bounce back to $1140, gold have been facing to close above $1140 for more than three days since last few months so this level shall be taken as selling opportunity.
Thanks & God Bless
Mahendra Sharma
7.00 AM Santa Barbara, 2 Oct 2015