Results of the previous day:

At the beginning of the new trading week, the Russian stock market once again to rewrite the records after the recession that took place in June or July.

RTS Index rose 2.47% to 1037.61 points, the index of the MICEX - to 0.91% to 1036.27 points. Trading volume remained at the previous values.

I would like the day before the start of the preconditions of possible cooling overheated on the background of the ongoing market rally, as evidenced by the nature of the daily candles, by the morning of Monday were unable to obtain support from external factors. Ovladevshaya market participants to bid in U.S. greed has led the American stock market to extend the upward trend that was further reinforced by a growing futures for U.S. indices on expectations of favorable release of macroeconomic data and more positive than is found in the quotes of corporate records. Additional support given and the price of oil, which is not relieved of appetite for risk and as a consequence of the weakening dollar also failed to stay the course to the north.

Having been at the opening of the combination of external factors, the most active market participants rushed to close with no profit short positions that they have been exacerbated by the initiation of technology purchases, after the MICEX index has overcome a zone of 1040-1044 points - 50% of the Fibonacci index of the MICEX decline in June and July and every Friday. Following the earlier пробитого down the medium-term ascending trendline around 1056 points on the MICEX index of Bears have decided to once again join the battle, which contributed to the adoption of the lateral dynamics of the market.

accumulated fatigue from a long series of quotations, and enhance the lack of convincing reasons for the early correction maintained a balance found that bulls and bears up until the statements of U.S. companies. Published financial figures and projections for future periods of Honeywell, Aetna, and Verizon Communications have formed outside the trend, when the reality is brighter quotations embodied in market expectations, giving rise to the top of a fixed profit on a stock or commodity markets.

left by the end of the trading in Russia on sales of new buildings in the United States presented a very pleasant surprise, clearly indicating the achievement of the bottom of this troubled economy. However, a short burst of enthusiasm that they have created, in the end was calm portion of sales of new market participants, who decided that the previously published reports are the missing link for the start of the cooling market.

As a result, the MICEX index, on the basis of the day was unable to overcome a key level of 1040 points (a correction of 50% of Fibonacci from the downturn in June and July) and formed another signal turning candle that is in favor of a scenario or correction at least, the consolidation of the achieved levels.

The highest growth segment in the industry have demonstrated the action of energy (Micex PWR 2.27%) against the background of the emergence in the media the first details of the functioning of the market long-term capacity.

Surely a sense shares of banks (Micex FNL 1.75%) due to an increase in the capitalization of their opponents in the western areas, as well as higher oil prices, which led to the strengthening of the ruble to a basket bivalyutnoy almost to the maximum values from the beginning of this year.

In turn, oil prices have provided support directly and shares of oil and gas segment (Micex OG 0.92%). However, began lowering the price of black gold after a fresh portion of the corporate records and records for the weakest quarter for the RSA II Lukoil (-1.35%) and Gazprom Neft (0.08%) deprived of their relative advantages.

Looking at this market:

In stock bid for the U.S. bulls were able to win re-up (SP 500 0.3%). Not met the expectations of Records for the II quarter from Aetna, Corning, Honeywell, RadioShack and Verizon Communications, which outweighed the beginning of the trading is very positive sales data in the primary real estate market, it seemed, could become the launching hook to start the correction has been ongoing for 10 trading sessions on the SP 500 index rally. However, intraday decline in quotations, it was chosen as an opportunity to enter the market with market participants, who were late with the opening of long. As a result of their actions once again the market is back on the path of growth and was closed in the positive area. On Tuesday, the index futures on the SP 500 slightly diminishes this positive contribution, adjusting downwards after the closure of Wall Street by 0.1%.

At the auction in Asia, already the eleventh session in succession, an increase in the stock indicators (MSCI Asia Pacific 0.7%). No significant events, so increasing the quotes are mostly inertial character. Increasing analysts Bank of America - Merrill Lynch forecast China's GDP this year from 8.0% y /y to 8.7% y /y. not made the main theme today among the public stock exchange. Better demonstrate the dynamics of the market shares of banks and the steel worker was, worse than the market - shares of energy companies.

In commodity markets the price of oil (WTI $ 68.5/barr.) endeavor to return to the recently reached the maximum, while the prices of base metals is significant is not the case.

The Russian stock market on Tuesday on such a background would open slightly higher than the closing of the previous day. A good report from Deutsche bank and rising oil prices will contribute to the emergence of a wave after opening up the market. In general, however, should not hope that this wave will have a large-scale shape. The Russian stock market has demonstrated a desire to move into a phase of consolidation or correction, which is to follow the flow of emerging news and be ready to go to the cache. Today is expected to record from Pepsi, the publication of the index in real estate prices SP /Case-Shiller (17-00 Moscow time), index of consumer confidence from the Conference board (18-00 Moscow time) and the index of business activity in the manufacturing sector, according to the FRB Richmond (18-00 ICN). Oscillation index MICEX today and in the coming days are likely to be concentrated in the range of 1022-1056 points, which will be tested on the strength of the idea of continuing the rally. In the case of passing the lower limit is better to stay to watch the market on the part, because such a development could lead to movement of the MICEX index down 975 points, and further attempts to reverse, as well as the beginning of a new medium-term downward trend.

In the first half of trading session is expected to multidirectional movement MICEX index in the range of 1020-1050 technical points
Interchanges summer rally is expected until 18-22 August, the growth potential of the Russian stock is estimated at 30% from current levels
Lukoil has begun operations on the installation of traffic by sea ice stationary platform at the name of Yuri Korchagin
Yesterday, a pair of Euro /dollar to the U.S. session after improving up to 1.4295 adjusted down to the level of 1.4200
Review of the FOREX market for 27.07.09
Today, the further forward motion of the single European currency in the past formed a corridor 1,4138-1,4288 dollar
Oil futures mark WTI traded just below $ 68.5
The Europeans did not refuse to leave despite the crisis
New rules of placement of reserves of insurance companies