The US Dollar is testing trend-defining support threatening to mark a major bearish reversal while the S&P 500 is working to build momentum above 1400.
THE TAKEAWAY: The US Dollar is testing trend-defining support threatening to mark a major bearish reversal while the S&P 500 is working to build momentum above 1400.
S&P 500 – Prices took out resistance at 1399.10, the 61.8%Fibonacci retracement level. The bulls now target the 76.4% level at 1409.00. The 1399.10 level has been recast as near-term support.
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