Operators' intentions read by 
GBP alone made a new low and the bearish feel has gripped the market.In tandem with the sentiment Euro and other pairs also made some USD gaining moves since yesterday.Besides the stock market and commodity market have also done drops to add fuel to fire.Is the bottom seen now or the fall can be more?.many have made the remarks that the big players only know.Big players are known to make moves to make money and by showing new high or new bottom they donot gain anything.So when traders hold adverse positions then there is chance for the big players to drop more and make profit when the traders liquidate their positions in distress.The quick fall and quick recovery indicate that there are technical short sellers in the market.As long as there are traders participationvaries, the players could make swings,volatile moves etc.Now even the last bull would have turned bearish or wait for the market to settle down before making fresh commitments.The move from now till week end could indicate us whether the bottom is seen or not.Because pending long positions would have been liquidated in this patient testing time.Hence the majors and commodity pairs have very less net change levels from yesterday close.Normally the bottom is not known when the market is around the level as the bottom is mainly the perception of the traders based on sentiments and will become visible once a definite move is seen.
Regards’
Dr.Sivaraman
I left this blog about 2 months ago after continously wrong calls by Mr. Sivaraman. Today I just came back to have a look at the latest posts and I just notice that the only thing that has changed - since I left two month ago - is the declining number of Mr. Sivaraman’s followers. At the same time I notice that Mr. Sivaraman has not changed his continously bullish outlook of EUR and GBP. About 2 1/2 month ago I wrote in this blog, by the time EUR/USD just broke the medium/long term trend at 1.53 and GBP/USD at 1.9350, that this market has clearly entered a bearish trend. But this was not because I consider myself to be such a smart guy, no, I’m sure that most technical analist of this planet would have agreed with me, whereas Mr. Sivaraman stubbornly kept predicting a big upmove in both currency pairs and kept trading against the prevailing trend. I really think it’s about time to stop this blog. Thanks for your attention and best regards. (hopefully this post will be published, not as others made in the past by the undersigned).
Jean-Pierre Bettschen
I have to echo the comments of other readers here. I cannot understand how and why Dr Sivaraman still sticks to his algorithm so stubbornly when it is continuously wrong and has been so dramatically wrong these past few months. Surely there comes a time when any rational human being can see that something is plainly not working.
I actually agree with dr srinivas. If the EURO was going down to hell we would have seen 1000’s of pips down this thing has only fallen about 500 pips in 2 weeks. This tells me that USD gaining moves are fading. Stronger dollars hurts retailers and the holiday season just around the corner I would be looking at a stronger EURO in the coming days.
Did November 13th Mark an Intermediate S&P 500 Bottom?
In the parlance of technical analysis, November 13th created a “spring” formation in the S&P 500.
A spring is an infrequent and relatively unknown pattern in which there is a temporary break of major support and then a powerful rebound back into the previous trading range.
S&P support, as many observers were well aware, was the October 10th low of 839.80. That support was decisively violated Thursday with the S&P hitting a low of 818.69. However, within about two hours the market was back at breakeven. The index finished with a gain of more than 60 points after being down about 35 intraday. The daily candle was very bullish– huge and almost hammer-like.
Even more bullish was the fact that the Dow Jones Industrial Average did not break its October 10th low of 7773.71, but instead held on Thursday at a low of 7947.74. This behavior is a technical non-confirmation of the S&P’s behavior.
Please don’t get me wrong, I am not saying we are at the start of a bull market. For a confirmed double bottom formation to take place, the S&P would need to take out its October 14th close of 1044.31 and that’s still a long ways off.
What behavior Friday would augment the bullish case? If the S&P can close above Monday 919.21 finish, there would be an enormous white hammer formation on the weekly chart. A hammer is often a major reversal candle.
If there is an intermediate rally in the offing that say carries to the mid-1100 range (the S&P was above 1300 as late as August 28th!!), I would look leading blue chip companies to lead the rally. One possibility is Apple which tested $86 Thursday, but finished above $96, has been bottoming for the last several weeks and demonstrating positive momentum divergence.
Hi Melvin Pasternak
Great input. I like your “if-then” analysis - precise and no ambiguity. Please consider writing more often.