Why Tuesday and Wednesday are important days

 

Dear Members,

Today market reversed sharply on positive side, few of members have sent email stating that what is next from here for the markets. In this week’s weekly Newsletter and Daily Flashnews we mentioned that the markets may remained in positive directions on Tuesday and mid Wednesday, we also recommended in our letter to start selling on higher side on Tuesday and Wednesday. Market will turn very negative from late Wednesday and Thursday onward we may see sharp fall in the market, Friday market may reverse big time from Friday. 


Next week astro cycles are showing worst time cycle for the market so it is great time to add more sell positions around current levels; currently September contract of S&P is trading around 2448, NASDAQ 5870, Ressell 1368. Market weakness started but always small rebounds come whenever short term astro cycles are positive, short term positive astro cycle can remains from 36 to 52 hours on maximum side.


Dollar Index is holding 93.00 to 92.50 level, keep accumulating USD.


Gold is holding $1263 level and not going above $1298 so remain short term trader in these ranges, above $1298 can push prices up to $1328.


As predicted oil trading in the range of $46.78 to $49.88 level.


Grains and softs are great buy around these levels.


Tomorrow, I will be traveling to India, so I am not sure whether I will able to send flashnews/ Indian Market letter and Daily stock report on the ThursdayFriday onward, you will get all reports on regular time.


Final Note: Another 24 hours market can hold value around current levels, but time to build more positions. UVXY is trading very volatile on both sides, we still 10000% believe that it won’t below $28.45 so this is great level to buy around level levels. Current UVXY is trading around $31.17 level and we still believe that it will test $87.00 and soon $181.00.


Yesterday we recommended selling NDSN, AMWD. Both these stocks came down sharply lower today after earning. After market, we our view is not very positive for CREE, CRM, INTU, and rise after market hours shall be taken as selling opportunity tomorrow morning.


Also Wednesday these stocks will announce earning LOW, PVH, SXI and WSM and they will fall sharply lower after earning.   

 

Finally base metals (Palladium, copper, Zinc, and Lead) will top-out today or tomorrow so watch base metals closely. Most of frontline currencies will topouttomorrow so sell Australian dollar, Canadian dollar, Euro, and on other hand we are recommending buying aggressive positions in Yen as well as USD. 

 

 

We still believe the 23 to 25% corrections is on the ways in USA, Japan and European market, emerging market may not fall that much but they will be also down in September and October, market have achieved top two weeks back as predicted. 

 

Thanks & God Bless

Mahendra Sharma

Santa Barbara, 10.33 AM on Tuesday