The S&P 500 is struggling to find directional near 2011 highs while the US Dollar is on pace to challenge the boundaries of its near-term down trend.
THE TAKEAWAY: The S&P 500 is struggling to find directional near 2011 highs while the US Dollar is on pace to challenge the boundaries of its near-term down trend.
S&P 500 – Positioning remains indecisive as prices test the 1358.60-1376.10 area, with a narrow bullish breakout late last week again falling short on follow-through. Negative RSI divergence still points to fading upward momentum, warning of a reversal lower. A break below 1358.60 initially exposes 1337.30, the 23.6% Fibonacci retracement. Alternatively, a sustained push higher targets the 1400 figure...read more.
Daily Chart - Created Using FXCM Marketscope 2.0
No comments:
Post a Comment