April 17, 2024
Mish's Daily
By Mish Schneider
On March 26th I wrote a Daily called: Last Night I Had a Crazy Dream-Swiss Franc
When I awoke and looked at the charts, I noticed in the futures market is that CHFUSD (Swiss Franc to the US Dollar) has been in a freefall for a while.
On the monthly chart, FXF has moved closer to the 23- and 80-month moving averages.
Even more importantly, the price has been above both MAs since a year ago.
With long bonds yields softening a bit and the US dollar coming off its recent highs, I thought it might be fun to revisit this dream and update you on the current daily chart analysis.
First off, FXF is holding the October 6th low over 97.00.
Secondly, FXF is now outperforming the benchmark or SPY.
Thirdly, our Real Motion Indicator tells us that FXF had a mean reversion.
Finally, on April 15th FXF made a new 60+ day low followed by an inside day, with today’s action closing above the highs of both days.
Reversal pattern?
Ideally we would like to see FXF get back over and close the week out over 98.10 or the 200-WMA.
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Mish in the Media - All clips here
Schwab Network Where the consumer will go next to spend money with Nicole Petallides 04-17-24
CMC Markets Technical trading-what how mish points out why the dollar could peak against the Yen 04-17-24
Stockpick.app Partial-sign up for the app and hear the analysis every week 04-15-24
Kitco News with Jeremy Szafron A clear explanation on why gold is up, inflation, Fed’s next moves and where things are going from here 04-13-24
CMC Markets Take a ride with Mish and she goes through commodities, indices and currencies and gives you a short-term game plan using long term bias 04-10-24
CNBC Asia Inflation is Coming Which bodes well for industrial and precious metals.04-10-24
Making Money With Charles Payne Mish talks about small and mid-cap stocks and why sticking to companies with strong balance sheets and earnings growth makes for best investments 04-02-24
CNBC Worldwide Exchange Tesla is one aspect of a much larger megatrend in EVs. Mish covers the advantages/disadvantages of the company and the space 04-02-24
Coming Up:
April 18 Coast to Coast with Neil Cavuto
Weekly: Business First AM, CMC Markets, and new to us-stockpick.app
ETF Summary
S&P 500 (SPY) 500 next big support
Russell 2000 (IWM) 192 support
Dow (DIA) 372 the January low
Nasdaq (QQQ) 427 pivotal especially on a weekly close basis
Regional banks (KRE) 45-50 range
Semiconductors (SMH) 205-206 support
Transportation (IYT) 67 pivotal with 65 bigger support
Biotechnology (IBB) 128 pivotal
Retail (XRT) 67.00 next support
iShares iBoxx Hi Yd Cor Bond ETF (HYG) 75.50 the 200 DMA
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