Dollar Breakout and S&P 500 Breakdown Don't Project Conviction Into Next Week
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
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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
Where the S&P 500 is leaning against the 2023 bullish trend channel support, the Dollar stands ready to cater to its safe haven status with staging like EURUSD’s balance on 1.0650
Standing at the verge of a well-trodden technical congestion, the Dow defaulted to the ‘path of least resistance’ pulling back into range – will volatility readings at extremes continue to settle?
With US rate expectations finding balance and the next 24 hours’ docket light, the greatest potential for a strong move is a surprise headlines or a more rudimentary ‘risk’ development
With EURUSD and USDJPY tentatively stepping into trend reversals, the Dollar’s ‘safe haven’ role is the most potent catalyst to watch going forward