Double Fall Line Trades Using Inter-Market Relationships
Good Afternoon,
Fundamentally, a light week. Keep an eye on claims on Thursday and also earnings. We will see earnings over the next few weeks and anyone trading options should be wary. Technically, the economic data has been weak as of late, will earnings be soft? If so, I have been talking about looking at entities that could go up if equities roll down. First up, the VIX, which is trying to stay above the 18.30 local resistance area:
Past performance is not indicative of future results
Next up, the SPX, which is sliding down to a trendline (the DOW is on a similar trendine and just went through its 50 period SMA:
Past performance is not indicative of future results
You got to love those inter-market relationships. Let's recap the day. The SPX started up, then gave back its gains and hung around the zero mark. Finally, the markets started moving and the SPX currently is down 13 points. That allowed for the USD, which usually strengthens when equities weaken to get moving! First up, the DOUBLE FALL LINE TRADE in the GBP/USD followed by the AUD/USD. The AUD/USD had the added "moon lining up" by letting a double top exhaust itself:
Past performance is not indicative of future results
Past performance is not indicative of future results
See you for the "Trending Opportunities Webinar" on Thursday
Happy Trading and (try to) Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
