Russian stock indexes rose on Friday to follow-up to new highs, despite the many expectations of fixation before the weekend arrived. Along with the restoration of long positions (growth indicator OBV-20) continues to commit short positions - an indicator OBV-5 is still in the zone of negative values. Driver supports the positive growth trend in the global marketplace fueled by corporate reports and encouraging economic statistics in the United States.

MICEX index back into equilibrium zone, where the level of break-even trading position with the investment horizon of up to 9 months (indicator OBP-Comp, picture 1). At these levels, in the middle of the Friday session, sales efforts, which may reflect the unwillingness of parties to pass the area immediately. It seems that still not enough money. In the future this may lead to further consolidation of the index to reach a level line around the OBP-Comp. The nearest resistance is located on the index at the level of section 981 (IAD-60).

In general, the first assessment of the state of Russian industry in July showed an improvement in the situation. According to the IET Code of industrial optimism in July continued to increase and reached the top of this year. Reducing pessimism in Russian firms has been the result of a slowing demand and improvement in ratings of stocks of finished products.

Comparing dynamic index MSCI-Russia vs MSCI-EM (Fig. 2) is easy to verify that the Russian market is now severely lagged behind other developing markets. So low, our stock was evaluated only in the distant year 2000. We believe that funds specializing in long-term investments in developing markets, is now a favorable moment for the opening of the limits to Russia.

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More than likely in the second half of the day is the scenario of moderate decline in the growth of correction after the previous week