Yesterday the S&P 500 (SPX) reached the main goal for the day and sold off as news hit that the health care vote would be delayed till today. Expect headlines around the health care vote to be the main catalyst today. Good news can drive SPX to 2366, bad news down to 2331.
Note: Error in SPX 65min chart corrected Yesterday SPX failed to punch over the down trend and consequently sold all day. It is still an open question in my mind as to the degree of this correction. Regardless of the magnitude of the correction taking place, it makes sense to have a bit of bounce […]
The dollar certainly can use a rest but think it unlikely the rise from 2016 is complete. There are two forms a consolidation can take, one being a triangle keeping the dollar in a relatively tight range for a couple months, and secondly, a deeper retracement that keeps the overall trend intact with a wave […]