Day Correlation News Today

The U.S. faces a multitude of economic challenges that lead to recent bank failures. We remain on high alert for a “bull trap” as we anticipate additional cracks to surface.

The global capital markets were showing an unusual amount of volatility before an extended holiday weekend (in the US), but the technical picture was less than convincing

Despite the mixed basic financial performance, MSFT shares rallied as much as 5.3 percent higher from Tuesday’s official close – bringing the market close to the 200-day SMA at 256

After an incredible 5 quarter climb from the US Dollar to two-decade highs, the market suffered its worst three-month retreat since 3Q 2010 over the final stretch of 2022.

While there were some fundamental sparks, the slide and ultimate pressure on the SPX’s midpoint of its October to December range is being distorted by holiday liquidity

Today’s trade has been a marked downshift in activity - and certainly direction - but the technical support in the vicinity likely has less to do with the shift than broader liquidity conditions

While the anticipation for the heavy run of event risk next week can curb many assets’ ability to run a break, some Dollar pair ranges are so tight, it could spark a run before the Fed

The bounce in the VIX extended this past session, but the S&P 500 held its own support; observation of nearby technical boundaries may grow through the end of the week

While the S&P 500 jumped its tight range and 200-day SMA, the Dollar was noticeably more reserved in its retreat – the PCE deflator ahead could materially change that backdrop

USDCAD is returning to the former ‘neckline’ of a six week head-and-shoulders pattern at 1.3500 after an extended consolidation above support at the 38.2% Fib of the 2021-2022 range