Dear Members,
FED just announced rate decisions as widely expected. We don’t see much positive impact on Financial stocks, market will struggle. Market trading both side without any clear directions but NASDAQ and Russell is trading bit negative. Don’t touch these Indexes, stay away from high flying tech stocks including ADBE, FB, NFLX, NVDA and many more. Sell NASDAQ if it moves toward 5745, S&P 2437 and S&P 1421.
Metals traded lower as predicted in yesterday’s daily Flashnews and weekly newsletter. Don’t touch metal at this stage, gold may test $1260 to $1243 level soon. Stay away from base metals. Stay long in DUST.
OIL traded as predicted and tested $44.55 level our predicted target, closing below $44.55 could take oil toward $39.88. Wait for todays flashnews before you makde decision. At this stage cover shorts in oil at $44.55 level.
Stay long in UVXY. Add more put options but remember or wait for last week newsletter of June and First week of July.
Currencies traded both sides. Higher side in USD is limited, pound bounced an will keep remain in positive directions next week.
Thirty Year bond traded both sides, stay sideline.
Thanks & God Bless
Mahendra Sharma