FYI | Nov 23 2011
FNArena has added another video to its Investors Education section on the website. This may seem odd in a week wherein the Risk Off trade is the clear dominant factor, but ATW's Jerry Simmons actually has a bullish underlying view on the Aussie dollar. In this latest video, he explains AUD/USD on his charts seems to be completing a reverse head-and-shoulders formation, which Simmons regards as a powerful bullish signal. "Extremely bullish" is the terminology used in the video. Price action below 0.98 would inflict serious damage he acknowledges.
In the same vein, Simmons retains a positive view on EUR/USD and zooms in on resistance levels, more so than support. US equities, having experienced an explosive rally in October, could be in for an ABC move now. Simmons' analysis suggests 1216.50 is the resistance to watch for the S&P500. Once through this resistance, US equities could move a lot higher, he predicts.
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=61
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).
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)
