FYI | Dec 22 2011
FNArena has added another video to its Investors Education section on the website. ATW's Jerry Simmons explains as to why he refuses to lose his positive bias for US equities: the S&P500 simply hasn't suffered enough technical damage to do so. Simmons locates technical support for the index at 1224-1227.
He does acknowledge divergence seems to have opened up between S&P500 and Nasdaq. He argues the Nasdaq needs to break above 2250-2265 again to regain bullish momentum. Alas, at this point in time the immediate conclusion is as long as Nasdaq trades below this level, the underlying trend remains south.
Simmons believes a break below 2180 for Nasdaq would be a clear negative for equities in general.
Today's analysis also includes EUR/USD and crude oil futures (WTI).
To view the ATW Strategic Prep Video click HERE or visit the FNArena Investors Education section of the website.
Here's the direct link: www.fnarena.com/index2.cfm?type=dsp_front_videos&vid=65
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)