interesting move/ The dollar is currently sitting at a critical point.
From a technical analysis viewpoint, if the dollar index falls below the green support line at $92.92, that signals that buying demand is weaker than it was last time the price hit this level, and the price will likely fall further.
If it bounces off this level, it’s more likely to trade higher towards the levels set in 2015 through early 2017.
But for the record, we here at The Daily Edge expect his chart to continue lower -- thanks in part to Janet Yellen and the Fed, who have insisted on keeping rates low, and thus destroying the value creation tools that many savers depend on.
Add in the European economy that is finally looking promising, and the future doesn’t look bright for the dollar…
Now onto earnings season, which continued to roll this week…
The big winners included Apple and Tesla.
Apple (NASDAQ:AAPL) up 4.5% since reporting earnings
Tesla (NASDAQ:TSLA) up 6.5% since reporting earnings
For those looking to invest in one of these, I still believe that even at the higher end of its valuation, Apple is still an excellent company to buy and hold for the long-term.
On the other hand, Tesla is just too overvalued for me. Sure they’re the new “sexy” company in the tech world, but when they’re valued higher than Ford and General Motors, yet produce just a fraction of the number of cars, I’d rather put my money in a less speculative stock.
And speaking of speculation, let me touch on one quick point about the most recent “Bitcoin Fork.”
For those of you that don’t know, Bitcoin recently split into 2 tradable cryptocurrencies Bitcoin (BTC) and Bitcoin Cash (BCH).
And right now, much of the crypto-markets are in limbo waiting for this situation to play out. Which is why I want to warn you, only risk money that you can afford to lose in these markets.
Who knows what the final outcome will be of this “fork.” I certainly don’t. And if something unexpected does happen, I’d hate to see you on the losing side of the trade.
News 
Market Data 
Discover 
