I expect a technical rebound

The outcome of the meeting of the Fed Russia's stock market opened in negative zone, but the sale was dominated by the market for long. The rebound observed in futures on U.S. indices moved to Russia's stock market. Shopping in the first place were related to technical factors, namely, market participants buy up sharply fallen in price action. Thus, during the session, the MICEX index was growing up.

important event of the day was the announcement of the data on the number of applications for unemployment benefits in the United States. Weekly data were better than expected, but the figure for the previous week were revised for the worse. The first reaction of market participants has been positive, in which the MICEX index tested the 1220 points mark. U.S. index futures also were growing up. But market participants chose to take profits in light of the instability of the external background and revised data on unemployment.

next stop of the day was the announcement of the data on the housing market. Sales in the secondary housing market suddenly dropped by 2,7% against the expected growth of 2,1%. These changed market sentiment. Thus, the U.S. indices went into a significant disadvantage. At Russia's stock market again yesterday's close, when a change of attitude has led to a sharp sales. Following the session, the MICEX index lost 1.8%. In my opinion, after such a sharp decline in shares of issuers Russia may again be otkupleny. So probably tomorrow early in the session on the equity market will be a technical rebound.

important events of tomorrow is to provide publication U.S. statistic data. In particular, tomorrow at 18:00 Moscow time will be announced sales data on U.S. new buildings, which probably also will present a negative surprise. Under the data on the housing market can open short positions, but this step is connected with high risks. Also, tomorrow will be announced data on orders for durable goods and the final data on the index of consumer confidence according to the University of Michigan. According to the expectations of the data will contribute to purchases on world stock markets, which may give way to the publication of data on sales of new buildings. Thus, tomorrow's session promises to be quite volatile.

Technically, during the negative data MICEX index dropped to an important range of 1175-1185 points. Penetration down in that range will be negatively perceived by market participants because it would indicate a change in the medium-term sentiment. In general, these levels ruble indicator may be consolidated for quite some time, namely before the reporting season.

Low oil prices do not contribute to the demand by non-residents. ADR on shares of domestic issuers now actively being sold, which increases the sale on the domestic market. The worst of the market shares of the banking sector seem to have lost more than 3% in value. Shares VTB looks more stable, since the mark 5,5 cop. still able to suspend sales. In general, this level looks good for opening long positions. Sberbank shares on the negative sentiment left substantially below 100-day moving average, passing a little below 59 rubles. In general, the bank's shares could rebound to a mark of 60 rubles.

The domestic market showed a decent resistance to the negative news
Euro until not in Forces begin the storming of mark 1.49
Prices EUR /USD pair began to rise to the level of resistance of 1.4760
Technical Analysis for 24/09/2009
Dollar exchange rate is saved without changes - the evening review of cash markets
We have a lot of free money, but despite this, some investors prefer to take profits
As of 18:00 Moscow time the volume of trading on the MICEX Stock Exchange amounted to 190.22 billion rubles
As a result of the second half of the trading day the dollar fell by 0.15% to 29.951 rubles
Gazprom and the Yamal-Nenets Autonomous Administration agreed on the integrated development of hydrocarbon deposits of the Yamal Peninsula