US Dollar continued to press higher despite an upside break from the S&P 500 but highly overbought technical studies warn that a pullback may be nearing. S&P 500 – Prices broke through resistance at 1322.10, the 23.6% Fibonacci retracement, after completing a Bullish Engulfing candlestick pattern above support at 1292.90. The bulls now aim to challenge the 38.2% Fib at 1341.70. The 1322.10 level has been recast as near-term support. CRUDE OIL – Prices put in a Harami candlestick pattern above resistance-turned-support at 90.49, hinting a corrective bounce may be ahead. Positive RSI divergence reinforces the case for ... (full story)