-
US Dollar Breakout Lacks Support from S&P 500
THE TAKEAWAY: The US Dollar pierced resistance defining the down trend since June but the lack of a parallel breakdown in the S&P 500 warns follow-through may be limited. S&P 500 – Prices pushed lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below resistance at 1466.10. Sellers are now probing key support at 1424.90, marked by the March 27 swing high and reinforced by the bottom of a rising channel set from early June. A Hammer above this barrier warns of indecision and hints a bounce may be ahead. Resistance remains at 1466.10. Alternatively, renewed selling pressure that produces ... (full story)