FYI | Nov 08 2011
FNArena has added another video to its Investors Education section on the website.
In this latest broadcast, ATW's Jerry Simmons explains why he currently has a positive bias towards risk assets. US equities don't look too bad from a technical angle at the moment. Simmons reports that if the S&P500 manages a breakout above 1244, the next zone of interest will be the 1249-1251 area.
Similarly, AUD/USD seems to have more upside than downside right now. Simmons sees resistance levels at 1.041-1.044 then 1.048-1.051. If the cross manages to surge past the second level of resistance, he believes we will see another sustained rally.
Simmons believes the Chinese equity market is now "firmly bullish". Another asset that tends to lead global assets, copper, is currently looking good on charts too. Simmons believes that unless copper sinks below US$3.46/lb, a bullish view seems but appropriate.
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&vid=59
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/index4.cfm?type=dsp_front_videos)
