folks, knowing what’s going on in the currency market is so crucial .. not only does it completely dwarf any other market out there in volume/volatility but it also play such a crucial roll in the flow of funds, affects on commodities, etc.
back in 2015 I posted “the most important chart of 2015″ and it was the Chinese Yuan: https://bartscharts.com/2015/12/09/most-important-chart-to-end-2014-revisited-in-december-2015/
I was aware that $AAPL did a bunch of manufacturing over there and, in the past, had shown the correlation of the price of Palladium to $AAPL stock. You can check that out here – https://bartscharts.com//?s=palladium
it’s take a little bit of time – imagine that – but as the entire world was wondering ….”hmmm, I wonder if the Chinese are done letting the Yuan gain strength against the USD” $AAPL was making it’s all time high and digesting this same thought .. (see dashed red rectangle below). The Chinese answered the question w/ a BIG EXPLOSIVE CANDLE … Answer: guess this move weakening the Yuan is real.
Now $AAPL. Note, when the “big move” came by the Chinese AAPL cracked and, since then, has been correlating nicely w/ the swings in the Yuan.
So, cliff notes, pay attention the Chinese Yuan and $APPL together …will this correlation break in the future? Probably but for now as the Yuan continues to weaken against the USD, $AAPL sure seems to be having a tough time …
Let me know if you have any questions … continue to make it a great weekend wherever you are….
PS – here’s some work for $AAPL over @seeitmarket