\n\tBy Rudi Filapek-Vandyck<\/p>\n
\n\tFNArena<\/span><\/span><\/span> has added another video to its Investors Education section on the website<\/span><\/span>. In the latest weekly update on markets, Jerry Simmons suggests AUD\/USD is looking ripe for a major retreat. Now that the cross has surged to the 1.0750-1.0800 zone, he wouldn't be surprised to see it retracing back to 1.0400.<\/p>\n \tHis view on copper is that the longer term trend remains down and this remains the case as long as copper remains unable to break down technical resistance at US$3.90\/lb. He observes this is also where the 50% retracement<\/span> is from the recent low.<\/p>\n \tFinancial stocks have now put in a positive confirmation, reports Simmons. More confirmation is needed before we can safely assume a new major uptrend is in place.<\/p>\n \tHis analysis shows the S&P500<\/span> index is enjoying strategic support at 1250-1257, and under that at 1220-1230. Strategic resistance is positioned at 1295-1300.<\/p>\n \tThe Nasdaq<\/span> index needs to break through resistance at 2415-2440. He observes the index is showing a good base of support which normally precedes a solid breakout.<\/p>\n \tA promising development has taken place for Chinese shares which could well have found the way to further upside. Former resistance has now transformed into support.<\/p>\n \n\tTo view the ATW<\/span><\/span> Strategic Prep Video click HERE<\/a> or visit the FNArena<\/span><\/span> Investors Education section of the website<\/span>.<\/p>\n