US Dollar technical positioning warns that a significant medium-term top may be taking shape. S&P 500 positioning still seems to call for weakness. S&P 500 – Prices put in a Bearish Engulfing candlestick pattern below support-turned-resistance at a falling trend line set from mid-April, hinting a move lower is ahead. Initial support lines up at 1292.90, with a break below that exposing 1265.30. Trend line resistance is now at 1329.10, with a break above that targeting upside barriers at 1357.40 and 1392.10. CRUDE OIL – Prices took out support at 83.30 the 14.6% Fibonacci expansion, to challenge the 23.6% barrier ... (full story)