YES Bank and US Stocks

YES Bank and US Stocks - IC News

Published: Thu, 10/31/19

If you watched my Youtube video you know that we ended this month on the highest volumes on record as all the selling got absorbed.

Not just that I published a note explaining how all the negative news was being absorbed and how there was a parallel to the 2008 crisis with the way that CITI group was bailed out by the Saudi Prince at 1$ a share.

When it is a crisis of survival and money can solve the problem money will find its way. But when it is a case of bankruptcy that is more difficult

Yes bank faced that question and clearly it was not a shut down case. Todays news that it received a bid got the stock jumpting 23%. See my last note on Yes bank a few weeks ago.

Also updates on US indices and Russia just as the BRIC are finding their feet.

Enjoy the Weekend!

Rohit

Yes Bank

There is only one thing to be certain about with a case like Yes Bank. Ask -Is it going to shut down tomorrow, or too big to fail/bail. The chart shows that wave v of C just extended from 53 to 30 that is all, wave C has to end somewhere, maybe it did today.

yes 031019

S&P 500

Some time back I considered the setup that US indexes would go to the top end of this wedge or channel. Even if we change the wave counts globally stance this pattern should complete. The price momentum remains positive and we could test the top end before any correction or consolidation occurs. On the S&P the top end is near 3120.

snp 311019

Russia

Russia is breaking out of a falling trend line from the 2008 top. The third wave of larger degree may have started as money flows back to commodity producers and emerging markets.

russia 251019

Nasdaq Composite

The S&P and Nasdaq both made All time highs today. The NASDAQ composite from 2010 has been rising inside a channel. The most recent rally during this year's ended up being a series of impulse waves marked as 1-2-1-2. This marks the start of the fifth and final wave a move that in the long term is often a blow of move that does not necessarily end at the top end of the channel can develop into a throw over .the size of these initial waves also point to move that can be larger in structure allowing for such an event the top end of the channel is at around 10,100 as an initial permit for the NASDAQ composite

nasdaq 291019

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Rohit Srivastava
www.indiacharts.com
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