Julian Yosovitch is a trader, and columnist for Ambito Fiinanciero (Argentina), Gestion (Peru), Saladeinversion.com, Inversion and Finanzas (Spain).
He holds a Bachelor of Business Administration and a Professor Master in Finance (UDESA). He is also a Capital Markets Specialist (UBA-IAMC) and Financial Markets Analyst - Ruarte´s ReportsTrader. Follow his blogs here, and folow him on Twitter @julianyosovitch.
Last Sunday, the people of Argentina cast their votes and Mr. Mauricio Macri was elected president. He is the leader of the opposition party “Cambiemos” (Let´s Change) and he has defeated Cristina Fernandez de Kirchner, who has ruled the country for 12 years (since 2003).
Day by day worldwide investors are getting bearish about emerging economies and their financial markets. Major financial newspapers and magazines post news about international money outflows which are leaving the Emerging Markets.
After its last fall, the Dow Jones index market has left a weekly bearish signal. Meanwhile, the 200-day moving average has broken and such technical arguments leave the market vulnerable to extend its weaknesses toward lower areas.
Apple shares closed at $126.96 on Monday. This stock is trading in a short-term lateral process, finding support at the current lows located around $125.00-123.30, and within the 38.2% Fibonacci of the entire latest rally that began earlier this year.
The U.S. Dollar Index Bullish Fund has taken a drop from $26.50 to $25.45, and from there the possible recovery puts the index within an important resistance at a 61.8% Fibonacci move of the entire initial selloff.