Bulls seized the initiative
Trading on the Russian sites have opened growth of quotations. Supported by the external background, bulls were able to seize the initiative and to resume the uptrend. Setting a new annual maximum at the level of 1376.07 points on the MICEX Index, the market went into correctional decline. As a result of trading the MICEX index rose 3.19%, ending the day at 1,362.86 points.
Throughout theday, the external background favored bulls. Before the opening of the external sites grew against the background of statements by Intel. Closer to the opening of American sites out new reports, including JP Morgan Chase has shown in the third quarter earnings $ 0.82 per share, at the expected $ 0.52 per share. However, precisely since the release of this report, the market has started corrective dynamics, which stopped the positive data on retail sales, bringing the market moved in a lateral drift.
The market reached a growth target we set at the level of 1370 points. Theoretically, from this level can expect to close positions and correctional movement down, but the further dynamics of strongly exposed to external background, namely the accountability of American companies that continue in the records demonstrate the positive momentum, and from the macro-economic statistics that goes in the coming days.
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