Waiting reporting JP Morgan today can accelerate the paper banks
Oct 14th, 2009 | By admin | Category: News and CommentsOn the eve of Russia's market adjustments that will facilitate the continuation of shopping today. Yesterday at domestic sites mainly recoup lower U.S. futures indices. Accountability Johnson Johnson and was even better than expected, but the driver for growth did not. Following the session, the MICEX index lost 2,71%.
Today the opening of Russia's market place with a gap up, due to significantly improve the appearance background. The signals are received and the purchase of futures for U.S. indices, and futures trading in oil. Closing of the American market held above the levels at which ended trading on domestic platforms. However, the main driver of growth will be the U.S. index futures, which soared on the background of the publication of positive results of Intel. In the improved market sentiment the U.S. dollar again weakened, and the EUR /USD pair is trading near the 1,488 mark. Crude oil futures on the weakening U.S. currency struck a mark up of $ 73 per barrel. In the markets of Asia also dominated by the positive sentiment - the growth of the Chinese index more than 2% impact on the dynamics of Russia's market at the opening of tenders.
The first half of the session will be full to the publication of data on European economies, which, by tradition, are likely to be ignored by market participants. Key statistic data will be published on the U.S. economy, in particular, data on retail sales. The key event of the day will be reading the report, JP Morgan Chase, which will open the season reporting U.S. financial institutions.
Technically, yesterday's correction factor is partly removed from Russia's overbought market. Resistance level for the index of the MICEX is the maximum year, which was installed before (1,366.48 points). Level of support will make a minimum of yesterday's session - 1310 points.
most interesting today will be the paper raw materials companies, as well as shares of banks. Publication reporting JP Morgan Chase could disperse papers domestic banks. The closest resistance level for the shares of the Savings Bank is the mark of 70 rubles. Its psychological significance of increased 21-day moving average, passing on this level. Interesting and VTB shares, the next resistance for which will be 21-day moving average, which passes on the mark of 7.06 kopecks.
Of the shares of commodity companies should be made of paper LUKoil, which have been extensively fire-sale during yesterday's session. An interesting paper for investment are also the shares of Gazprom, which also have substantial growth potential. In some papers, oil industry, despite the correction of the past, technical overbought not diminished, which may hinder growth.
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