FYI | Jul 28 2011
FNArena has added another video to its Investors Education section on the website by ATW founder and trader Jerry Simmons.
The observation stands on its own merits: the Chinese share market has led global equities and risk assets at crucial turning points since the GFC. Think late 2008-early 2009 and think mid-2010. ATW's Jerry Simmons has picked up on the theme, which might not be unimportant given Simmons' technical analysis shows the outlook for Chinese equities is bullish right now.
In addition to the Chinese equity market, Simmons observes the CRB Index, widely used as a proxy for commodities, has been putting doji bars on price charts. These technical signals often indicate a pending reversal in trend.
While gold is attracting a lot of attention these days, Simmons points out there are two strong major resistance zones at US$1605-1625 and then at US$1665-1695/oz. If the precious metal (or should that be "currency" ?) manages to break through this resistance, there's already another zone of strong resistance waiting at US$1730-1733/oz. Initial strategic support is located at US$1575-1580/oz.
Copper is looking bullish too and it would appear resistance at US$4.42/lb will be put to a test. On the other hand, a break below 4.20 could seriously damage the bullish structure, Simmons believes.
His analysis suggests the outlook might have turned bullish for financial stocks in the US.
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/index4.cfm?type=dsp_front_videos&vid=48
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)
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.
Technical limitations
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.
