Are We Near A Temporary Bottom?

Markets Overview

The week started on a good note on Tuesday but ended on a very poor note on Thursday. It was a short week with only three trading days, consisting of one nice up day and two down days.

The chart on Nifty this week is very interesting. Over three sessions, the market has basically gone down only 0.47% this week despite all the doomsday scenarios being painted. While the war is getting escalated, markets are trying to find some levels to go forward.

Latest Daily Byte

The month of April started with a bang on 1st April, but on 2nd April, the entire bank got busted. In the State of the Union address by President Trump, he continued the warmongering. While in many tweets he mentioned that the US is ready to withdraw, more elaborate plans of escalation were discussed in that meet, and the markets really tanked off worldwide.

Consequently, the S&P 500 crashed and Asian markets collapsed this morning. Gold came down as all liquidity-oriented moves happened in the opposite direction, and the entire gain of the previous session was practically wiped out in the morning.

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Rebalance Update for the week