Last Friday, when the equity market at its top, we advised our viewers to exercise caution at such levels.
Global Equity Market
In the weekly newsletter, we mentioned that Tuesday would be the weakest day wherein low of global markets would be made. Around 2880, we went short in S&P500 and covered it around 2750. We were short in DOW @ 24300 (which was covered at 23150) and NASDAQ @ 8800. After covering short, it was advised to make long position across DOW, S&P500 (at 2725-2730), NASDAQ. The next three days are supportive but with volatility for equities. Today, it is the New Moon, market may experience volatility. Around 2780-2800, it is advised to book 50% profit in S&P500. Again, wait for lower level to accumulate long position. We are long in NETFLIX, AMAZON, TESLA, APPLE, and NVDIA. Important Note: Owing to the Sun-Uranus conjunction, the equity market is expected to be positive for next week.
We went short in the July contract at 28. It is now advised to cover this short position at 20.00.
The uncertainty in oil will continue until Friday. On 25th, Pluto is changing position and then onwards, crude may enter a positive territory (possibly from Monday). At Friday’s closing, you can buy a small quantity of crude or call options.
On Monday if gap up opening is observed then continue holding long position for short term. If it opens gap down, exit from your position within Asian opening.