Trading Outlook AAPL, FX, Gold, Oil

   on May 15 2012 10:25 AM

Apple Inc. NASDAQ:AAPL is trading .5% higher in the premarket

Apple Inc. NASDAQ:AAPL will release a new series MacBook Pro machines, to be unveiled at Apple's annual developers conference starting June 11, also will feature high- definition screens like those on the iPhone and iPad, as well as flash memory to cut startup times and extend battery life, said the people, who asked not to be identified because the plans haven't been made public.

Apple's Mac sales are growing faster than the personal- computer market, benefiting from the popularity of its mobile devices. Since 2007, when the iPhone was introduced, Apple's Mac sales have more than doubled, reaching $21.8 billion last year.

Manufacturers in the U.S. are getting a boost as auto sales running at the fastest pace in four years lift demand for goods from glass and machinery to sound systems. Companies are also benefiting from overseas demand, with exports hitting a record in March.

The Federal Reserve Bank of New York's general economic index increased to 17.1 this month from 6.6 in April. The median estimate in a survey of Bloomberg economists called for an increase to 9. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey and southern Connecticut. The last negative reading was in October.

Crude Oil (Jun 12) intraday: the downside prevails.

Pivot: 95.10 Our Preference: SHORT positions below 95.1 with targets @ 93.65 & 92.8. Alternative scenario: The upside penetration of 95.1 will call for a rebound towards 95.8 & 97.15. Comment: as long as 95.1 is resistance, look for choppy price action with a bearish bias.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |  Black represents the price when the report was produced width=1

GOLD (Spot) intraday: under pressure.

Pivot: 1577.00 Our Preference: SHORT positions below 1577 with targets @ 1547 & 1540. Alternative scenario: The upside penetration of 1577 will call for a rebound towards 1590 & 1601. Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

EUR/USD intraday: capped by a negative trend line.

Pivot: 1.2880. Our Preference: SHORT positions below 1.288 with 1.281 & 1.2755 in sight. Alternative scenario: The upside breakout of 1.288 will open the way to 1.291 & 1.2955. Comment: the pair stands below its resistance and remains capped by a declining trend line.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

GBP/USD intraday: under pressure.

Pivot: 1.611 Our preference: Short positions below 1.611 with targets @ 1.6025 & 1.6005 in extension. Alternative scenario: Above 1.611 look for further upside with 1.6125 & 1.615 as targets. Comment: the pair is on the downside and is challenging its support.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CAD intraday: the downside prevails.

Pivot: 1.0055 Our preference: Short positions below 1.0055 with targets @ 0.999 & 0.997 in extension. Alternative scenario: Above 1.0055 look for further upside with 1.008 & 1.01 as targets. Comment: the RSI is badly directed.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/JPY intraday: under pressure.

Pivot: 79.95 Our preference: Short positions below 79.95 with targets @ 79.65 & 79.55 in extension. Alternative scenario: Above 79.95 look for further upside with 80.1 & 80.25 as targets. Comment: the pair is rebounding but stands below its resistance.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

AUD/USD intraday: continuation of the rebound.

Pivot: 0.9975 Our preference: Long positions above 0.9975 with targets @ 1.004 & 1.0075 in extension. Alternative scenario: Below 0.9975 look for further downside with 0.995 & 0.9925 as targets. Comment: the RSI calls for a new upleg.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CHF intraday: rebound.

Pivot: 0.9325 Our preference: Long positions above 0.9325 with targets @ 0.9375 & 0.939 in extension. Alternative scenario: Below 0.9325 look for further downside with 0.93 & 0.9265 as targets. Comment: the pair is rebounding on its support as the RSI is turning up.

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Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service

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