SENSEX,DOW,S&P- ALL BELOW 200 DMA

In my last update I said " All in all, Dollar would be the winner appreciating against other currencies which means extreme pressure on Commodities & Equities soon".

Currencies have moved well as expected. EURO has made an 18 months low. Doller Index has zoomed up to an high above 87. USDINR has zoomed above 47 today. Commodities like CRUDE & all METALS have seen the pressure. All major Equity Indices are below their 200 DMA. We may well be at the onset of a major trend reversal in Equities.

Sensex has a good support at 16000 levels. We can expect a minor pullback from this level. But below this a major correction awaits.