USD keeping SPX in check?
|S&P 500 had all the conditions in place to extend post-GOOGL earnings run, yet for many reasons (breadth, intermarket and fundamental), I didn‘t trust that yesterday‘s session would result in a markedly higher S&P 500 prices, and that‘s exactly what we got – clients were clear about it not being wise to chase the 500-strong index on the long side, and today‘s premarket session provides extra confirmation thereof – all the pieces of the puzzle are nicely put together in today‘s brief, punchy video.
Calm down, USD bulls – such was my message for yesterday – are we seeing it really keeping being valid (for) today too?
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