The market shares of the Russian Federation began trading on Monday, a moderate decline in the prices of most fallen under the pressure of world stock and commodity platforms.

Futures on the RTS index decreases by 6.6 point to the underlying asset, reflecting a moderately negative expectations of speculators. Indeed the major indices last week showed an increase after correction for 30% drop from the highs, and there is no evidence that the indicators have stabilized and are ready to form the lateral trend prior to the new wave of growth.

Rather, now formed the preconditions for quotes by the end of the quarter, and then we can see a new drop. The main restrictive zone when moving up now is the level of 1000-1010 points on the MICEX index, coinciding with the 14-periodnoy moving average. At the same time, even at current levels is visible weakness buyers - the index could not gain a higher mark of 970 points (ie, above 200-day Moving Average).

The increase, which is observed on individual securities, there is no trading volume and a correction or a character, or similar to the formation of a certain price for the closure of half of the year.

At the same time down the road almost free - is the first major support stands 870 points mark for the MICEX index - the bottom of April of this year, coincided with the lower Bollinger on a weekly schedule.

In fact, this decline can be done quickly - the lack of buyers in the previous fall, but also allowed a short position freeing the market for the deep failures.

The main negative in this period can be a negative image in foreign markets. In particular, the volume of liquidity in the U.S. stock market fell again, not allowing the Dow Jones pass mark 8500 items. Recall that in the range of 8500-9500 constituted a significant amount of sales from those who redeem this range in the fall of last year and now seeks to withdraw from the securities with zero loss.

In addition, a weak show quotes in oil prices - increasing the supply at prices above $ 60 as well as currency fluctuations are the cause for a local correction for the Petroleum quotes.

internal negative is the negative dynamics of the macroeconomic data, as well as the banking sector.

Thus, reasons for optimism are not yet there. We continue to maintain the share of the cache in the portfolio at least 70%, suggesting that any purchases now can be extremely risky.

In the coming days the prospects for the market may be in the range of 950-1000 points of index MICEX
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