The following 3-year Daily Ratio chart of the Russian Index vs. the German Index shows a very recent bounce in favour of Russia, following a 3 year relative decline in Russia's strength in the markets. All three technical indicators have now been pulled into positive territory (above their mid-points), and price has bounced above the declining 50 day moving average. Major resistance sits around the declining 200 day moving average.
I'd watch to see if these levels are held in the days/weeks ahead as a possible gauge of any easing of tensions between these two countries and softening of sanctions against Russia over the Ukraine situation...resulting in a strengthening of the Russian markets. Otherwise, a drop and hold below the March lows could spell bigger political unrest and trouble ahead.
In any event, there is room for some large and volatile price swings in between the 200 day moving average and the March lows until a clean break and hold is made either above or below those levels. Such movements may tie in with any volatile movements that may occur in the U.S. markets, as I described in my last post.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. Feb. 26 @ 8:30 am ET ~ Core Retail Sales Ex Autos m/m & Retail Sales m/m
* Wed. Mar. 6 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 8 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Mar. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Mar. 22 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9 & Feb. 21 PMI came in at 47.6 (contraction mode deepens!)
* Wed. Apr. 10 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Apr. 19 ~ U.S. Markets Closed for Good Friday holiday
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...