Market Talk – July 26, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 202.10 points or -0.53% to 37,667.41 Shanghai increased 4.16 points or 0.14% to 2,890.90 Hang [...]
Dow from the A$ Viewpoint
QUESTION: Hi Martin,
I was unable to attend your WEC in Orlando but purchased it to view remotely. I’ve read the vertical market report and look forward to watching the video of the even when its ready. My only question is with regard to currency. With my currency in AUD I realise the place to be is in the DOW however with you’re previous reports of Australia being one of the few countries with Super Annuation and the fact longer term you have predicted the AUD to surpass the USD will investing in the DOW be detrimental on a purely currency basis or will the USD rally against all currencies before many years ahead seeing the AUD rally against it? Is the Aussie Dollar included when you say all other currencies etc or is it unique like you’ve mentioned before in a 2010 down under report?
Thanks for all the effort you go to helping us all navigate through these interesting times.
Cheers,
G
ANSWER: The US$ has been moving higher against the A$ since 2011. It has NOT reached the Yearly Bullish Reversal which stands at 14252 on the cash. The technical resistance stands at the 160 and 170 levels. There is no indication that the US$ will make all-time record highs against the A$ just yet. Exceeding that 14250 area will ring the alarm bell for the A$.
Here are the technicals for the Dow in A$. Here we have elected four Yearly Bullish Reversals whereas, in the currency, we have not elected any so far. This makes the 14252 number very important.
Latest Posts
It’s a Recession Not a Depression
The government insists that the economy is fine, thriving perhaps, and has asked the public to pay no mind to their current financial situation. No one, aside from those living [...]
China turns Neutral?
Ukraine Foreign Minister Dmytro Kuleba and Chinese counterpart Wang Yi in Guangzhou met to discuss China’s position on the Russia-Ukraine war. China stated it is “willing to play a constructive [...]
Never Trust the Secret Service since Elite Bodyguards have a History of Assassinating Heads of State?
I have reported how President Richard Nixon had threatened the head of the CIA, saying: “I know who killed JFK.” When he was driven out of office, Nixon refused the [...]
