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.
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.
The strong bearish move in the euro initiated in mid-2014 has placed the currency back to the 61.8% Fibonacci move that began in 2000 and the lows of $1.10 are considered an important short- and medium-term support.