Algokid

AUD VS. SP 500 - if you are long, better hope it hold

FX:AUDUSD   Australian Dollar/U.S. Dollar
748 14 6
the AUD, a good leading indicator of the SP             500 over the past few years, broke it's long term support line ( orange). This resulted in a ~ 7 % drop in the S&P             . Now both are at critical support again. If the AUD breaks that support, you can bet the S&P             will follow.
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Algokid PRO
4 years ago
AUD in GREEN
SPY in RED
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Algokid PRO
4 years ago
Interesting Fact :

Since 2010, when the AUD/USD hit it's support ( white dotted line) ..the Sp 500 had amazing rallies ( 14%, 13 % ,and 18 %) We may be looking for another double digit rally soon . This Friday was a great start :)
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dimes
4 years ago
I agree in fact there are many things pointing to a major rally in my point of view but more important the technicals.I have an Elliott wave count I will post soon to show where we can be headed to. Interest rates are low right now(I took a look at your chart)and it was a good illustration of how long and how low they have gotten. General rule of thumb is stocks lead interest rates on the way up.People slowly get tired of know yield and start putting it into stocks. Gas prices are low which helps drive the economy and gas prices should rally as well.People are becoming very bearish so I think this could be the rally or one more wave down. Lets get prepared because we should come out of this in in great shape if we dont jump the gun.Lets look for the risk currencies to confirm along with oil prices and we can go long with a really high probability.Of course that is what I am focusing on. Let me know what what you think kid.
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