Saturday, October 17, 2009

One hour of trading is enough for market participants to do something drastic... Be extra cautious!!!

Wishing everyone a happy & prosperous Diwali.

Tomorrow's trading day is a crucial one as we are off on Monday on the account of Bhau Bhij. Dow is trading 70 points down at this point of time and dollar index has bounced back almost two tenths of a percent. The inverse relationship between Markets and Dollar Index continues to play a major role. Dollar Index ( DXY ) is approaching its long term support around 74-74.5$.

Dow may end lower only due to not-so-good results from Bank of America and this may spoil our tomorrow's Diwali Party.

Have a happy trading day

Regards
Ankit

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