Equities Not Doomed As Yet
FNArena has added another video to its Investors Education section on the website. In this educational video, ATW's Jerry Simmons explains weakness at the opening of the month was "strategic" as it led to the S&P500 weakening into and below the 1290-1295 zone. He believes US equities will need to sink as low as 1280 (at a minimum) for the negative break-out to be confirmed (this has by now occurred with the index currently at 1271). The upside appears limited due to resistance at 1346.
Other analyses provided in addition include US Dollar Index, AUD/USD and crude oil.
Concludes Jeremy: Watch the Treasuries as that market has been sending the message that equities are in a corrective mode. He believes this market is in jeopardy of rolling over. Any breakout below 12400 (for Dow30) initiates roll reversal, then 12410-12424 would represent resistance. Similar as with the S&P500 analysis, the latter has now occurred.
To view the ATW Strategic Prep Video click HERE or visit the FNArena Investors Education section of the website.
Here's the direct link: http://www.fnarena.com/index2.cfm?type=dsp_front_videos
All views expressed are Jerry Simmons's, not FNArena's (see our disclaimer).
Jerry Simmons has over 25 years of full-time trading experience. He is the senior partner and head mentor for the "Masters" Programme within the education system at New York based Advanced Trading Workshop (ATW). ATW recently set up shop in Australia through the establishment of ATW Australia (since mid-2010).
FNArena is pleased to have Jerry Simmons as a highly valued contributor to its service which aims at both educating investors and assisting them with their own market analyses.
The above mentioned videos can be accessed via the FNArena Investor Education section at http://www.fnarena.com/index2.cfm?type=dsp_minc_education)
About ATW Australia Founded in June 2010, ATW Australia is a "one-stop-shop for all a trader needs to succeed": quality education for new traders, superb advanced trading education, fast unfiltered data, a world-leading trading platform, customer oriented competitive brokerage, quality 'Made in the USA' specialized trading computers, trading magazines, and the all-important psychological mentoring and coaching for traders. The trading educational products are provided by the Advanced Trading Workshop, Inc. in New York, all other services are provided by a network of partners that were chosen based on their superior products and services in their specific field of expertise. FNArena is one such partner.
To learn more visit www.advancedtradingworkshop.com.au.
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