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ResMed short term traders may wish to take profit on RMD, following the 6% rally.
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Did you miss last night’s webinar? Catch up by watching it below:
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For regular readers of our blog and viewers of the Monday night webinars, you would be very familiar with the earnings table below.
The S&P500 index is trading at an assumed $170 of earnings per share for FY21 and $180 of EPS for FY22. We feel these targets are too optimistic and the range could be more like $125 to $150, with a slower rate of recovery into 2022.
The close on Thursday and Friday now has the major US indices trading below our short-term momentum indicators.
Our target for the S&P500 is 2500 support and 3300 resistance.
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The US dollar has been trading lower over recent weeks and should we see a pick up in market volatility and risk-off sentiment builds, the US dollar may find increased buying support.
The following ETFs provide a way to capture exposure to the trade.
Betashares Strong U.S. Dollar Fund (Hedge
Level 29 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
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