The Fed minutes sprung no surprises and the S&P and NASDAQ were able to rally through key intermediate resistance levels. Fed signals no rate hike soon, which is a positive signal for equities. Asia stocks mostly up after China Manufacturing PMI beat consensus with Nikkei up 2%. Europe gained some follow through from other markets and moved upwards slightly.
Google (GOOG) broke up down channel first time on 12th of May and regained 8 and 21 EMA. That was first signal that this may change direction. Google almost reached my target that I mentioned on Monday at $557. Next resistance at $564-68. It should hold above $540 support to keep attention of active traders. Then we have series of higher lows $523.57 and $511 that should act like intermediate support.
Apple (AAPL) changed the game with its most recent earnings report. Not only did they report stronger numbers than expected despite no new products, but they also raised buyback and dividend. Support for active traders at $600. Pivot resistance at $607.33 which is my action point to buy if it will go through.
The USD/JPY on the daily chart below, all key moving averages but yesterday we have seen a strength. I mentioned points on chart where I make my adjustments. You don't want to be stubborn with your opinion. In the morning it is back below intermediate resistance at 101.600. I want to fade those weak buyers and will trade with Put below resistance and below my 8 and 21 EMA with target at 101.350.
I see nice Head&Shoulders pattern in USD/CAD with neckline at 1.09030. Moving averages curling down means that sellers keep pressure and control on price. Break below neckline which is our support could lead to further follow through. My intermediate target is 1.08600.
Gold bounced from lows where we have strong wedge support, built nice bull flag and resolves to upside. I see some buying signals here. My plan is to trade with Call close to support lines at $1292.62 then $1290.65. Resistance at $1296.37, if buyers will manage to pull it through than we can expect some follow through to next resistance at $1302-05 area.