Ed Ponsi: Higher US Dollar, Lower Oil, Lower S&P Equities.
Ed Ponsi, managing director of Barchetta Capital Management, spoke yesterday with Larry Kudlow on CNBC.
Kudlow introduced Ponsi as the 'nation's best chart analysts'.
Here are some of Ponsi's key analysis for S&P stock market, Oil and the US Dollar:
Ponsi: s&p stock market index chart is going to test 1257, the Japanese tsunami and earthquake low
Ponsi: strong support at 1257 level, many buyers waiting for that level maybe a little lower
Ponsi: should see a strong bounce from there
Ponsi: oil charts showing oil prices edging lower, good news for the American consumer
Ponsi: could see 88 in oil fairly soon, low 90's high 80's probably within the next few weeks
Ponsi: dollar chart agrees with the oil chart, dollar looks like it wants to go higher
Ponsi: double bottom in US dollar, if we can break above 76, we could see a nice relief rally
Ponsi: looking at 1250 bottom in the s&p, lower oil, and higher us dollar
See below for the entire CNBC interview:
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|Publication:||International Business Times - US ed.|
|Date:||Jun 14, 2011|
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