Archived IMT (2009.11.02)

RBA DECISION PREVIEW Video Analysis http://bit.ly/3POJBr .

Do not expect any major Asian rally if S&P closes below 1,047 and Dow below 9,685. Markets to remain defensive ahead of the key central bank decisions and US data as long as no close is seen above 9,900 in the Dow and no S&P close is seen above 1060, Nikkei-225 showed little sign of recovery after falling into its Aug-Sep H&S pattern. Only a recovery above 10,200 is seen re-establishing bullishness in the index.